Charter Expansion and Conversion
The Pennsylvania Credit Union Association works with credit unions interested in exploring opportunities in membership growth through Charter Expansion or Charter Conversion.
The economic climate has significantly affected membership growth of associational and employee based credit unions. Both State and Federal credit unions may wish to consider a charter expansion or charter conversion as a solution for continued growth. Alternatives include:
Credit Union Development staff has years of experience working with both the Pennsylvania Department of Banking and the NCUA.
- Conversion to a community charter – membership consists of persons who live, work, worship, or attend school in the same well-defined local community, neighborhood, or rural district.
- Conversion to a Trade, Industry or Profession (TIP) – A single occupational common bond credit union based on employment in a trade, industry, or profession including employment at any number of corporations or other legal entities that while not under common ownership – have a common bond by virtue of producing similar products, providing similar services, or participating in the same type of business.
For additional information, please contact Rick Myxter, AVP Credit Union Services, at 800-932-0661, ext. 5214.
For more information or to get started, please contact your Association Representative at 800-932-0661, or e-mail CUSolutions@pcua.org.
- Business Development / Sales
VP, Business Development
800-932-0661 x 5330
Sr. Account Executive