NCUA official seal NCUA official seal. (Source: NCUA)

Charter expansion applications were approved for 28 credit unions, according to the NCUA’s Q1 Merger Activity and Insurance Report released in May. The report also showed more than 150 credit unions secured automatic multi common bond charter expansions for small occupational or associational groups.

Ten applications for five credit unions that got the OK for underserved area charter expansions included the $749 million CBC Federal Credit Union of Oxnard, Calif. (4); the $98.8 million Bragg Mutual Federal Credit Union of Fayetteville, N.C. (2); the $1.7 billion Meritrust Federal Credit Union of Wichita, Kan. (2); the $1.3 billion Wright Patman Congressional Federal Credit Union in Washington D.C. (1) and the $52.2 million Breco Federal Credit Union in Baton Rouge, La. (1).

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