Posted May 16th, 2019 No Comments
Credit Union Gets Expansion Approval

The Nebraska Department of Banking and Finance (NDB&F) approved eight (8) Nebraska counties be added to the geographical area that MembersOwn Credit Union can serve.  MembersOwn Credit Union made application in September of 2018 to the NDB&F to add eleven (11) counties to the two counties they already serve of Lancaster and Gage Counties.  The application included adding the counties of Jefferson, Saline, Seward, Butler, Saunders, Cass, Otoe, Johnson, Nemaha, Pawnee and Richardson.

The NDB&F elected to hold a hearing on January 30th on the expansion application following receipt of opposition/protest letters from the Nebraska Bankers Association and the Nebraska Independent Community Bankers Association.

On May 3rd, the NDB&F ordered the addition of Jefferson, Saline, Seward, Saunders, Cass, Otoe, Johnson, and Pawnee Counties to MembersOwn CU’s field of membership.  “The residents of these eight Nebraska counties, along with those in Lancaster and Gage, are the beneficiaries of this order and we are very pleased with the result” said Scott Sullivan, President/CEO of the Nebraska Credit Union League.

The Department found the two existing counties of Lancaster and Gage, along with the eight approved counties, constitute a “well-defined local community”.  The Department cited several service areas and political jurisdictions as basis for such a determination as well as commuter data.

The Department also indicated that there is “no evidence to indicate that MembersOwn’s expansion of its field of membership would adversely affect banks, credit unions, or savings institutions located, or serving customers, in any of the ten counties listed in its request and found to be a well-defined local community”.

 

 

Leave a Comment

Reply

Events Calendar
May Edition

MISSION STATEMENT


The mission of the Nebraska Credit Union League & Affiliates is to protect, promote and perpetuate the credit union movement in Nebraska.
What's Inside
Archives