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The $1.7 billion CoastHills Credit Union's members and Board of Directors voted to approve the conversion from a state-chartered credit union to a federally-chartered credit union. Officials said the move will give the credit union more geographic space to serve a wider potential membership base.
The announcement from the Santa Maria, Calif.-based CoastHills on Wednesday said the former state charter "limited eligibility to anyone who lives, works, or worships in Santa Barbara, San Luis Obispo, Monterey, Ventura and Santa Cruz counties." With the approval from board members and the credit union membership, CoastHills will operate as a Multiple Common Bond charter, which will allow the credit union "to serve more members and communities through association and employment eligibility."
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
