ST. LOUIS (3/27/14)--With its recent charter change, Poplar Bluff (Mo.) FCU will be able to serve six counties in southeast Missouri--including three that do not have any credit union services at all.
The $41 million-asset credit union received approval for a rural district community charter from the National Credit Union Administration and can serve the low-income designated area.
"The region is essentially without credit unions," said Kirk Mondy, president/chief operating officer (Missouri Difference March 24).
"Three of these counties have no credit unions at all. One county has one credit union beside us, and another has only a branch office from a Michigan-based credit union," he added.
Poplar Bluff FCU previously was a multi-SEG charter with Butler County at its center. Dunklin, Ripley and Wayne counties do not have any credit union services, while Stoddard County has one other credit present.
"This charter expansion fits hand-in-glove with our NCUA low-income credit union designation and with our recent (community development financial institution) certification," Mondy said.