Wichita, Kan. — The $121 million Mid American Credit Union has not yet finally decided whether to return to the small town of Greensburg where it used to have a start up office.
An extreme tornado leveled the office on May 4, 2007 and, even though rebuilding is well underway, Mid American CEO Jim Holt said field of membership restrictions pushed through the state legislator by Kansas bankers has complicated the CUs decision on whether to reopen the small office.
Holt explained that the restrictions effectively prevent his credit union from having more than a million potential members, statewide, at any one time. That has meant the CU has had to consider its branching decisions carefully and that the CU may not reopen its start-up branch.
"There are just a number of factors complicating the decision," Holt said. "Not only do we have to carefully consider where we put our resources, the fact is that some of the business which were our partners in Greensburg have also relocated from the town and may not return."
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