PENSACOLA , Fla.–Pen Air FCU said its members have approved a conversion to a Florida state charter. The credit union is now Pen Air Credit Union.
“Pen Air is currently celebrating our strongest financial position in our history,” said President/CEO Delbert Lee Morgan in a statement. “Changing our charter and expanding the geography we serve is an important step to ensure we continue attracting new members. We remain committed to our existing members who have helped us grow and prosper, while expanding our ability to enhance people’s lives across a larger geographic area.”
By converting to a state charter, Pen Air CU said it can:
- Pursue growth opportunities across 17 counties, ranging from Mobile County in Alabama, all the way to Leon and Wakulla Counties in Florida.
- Reduce the barriers toward joining by expanding the field of membership. Anyone who lives, works, worships, or goes to school in the approved service area will be eligible to open an account.
- Produce additional value for all Pen Air members, such as the “addition of convenient branch and ATM locations, the opportunity to provide lower rates on loans, provide higher rates on deposits, and lower fees and more.”
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