ROLLA, Mo.–Two credit unions have announced field of membership expansions.
In Missouri, Riverways Federal Credit Union recently expanded its FOM from Crawford, Dent, Maries and Phelps counties to the counties of Benton, Callaway, Camden, Carter, Cole, Dallas, Franklin, Gasconade, Hickory, Iron, Laclede, Madison, Miller, Morgan, Osage, Pulaski, Reynolds, Shannon, St. Francois, Texas, Washington, Webster, and Wright. Anyone who lives, works, worships or attends school in those areas, along with businesses and other established companies, are eligible to join.
“This expansion is definitely a game changer for us,” Riverways FCU CEO Scott Shults acknowledged. “One of the things that brought us to this point is our new digital banking platform. Thanks to technology, we’re now able to provide access to quality banking services for our members no matter where they are.”
The $80-million Riverways FCU said it spent much of the past year preparing for the membership expansion, culminating with the launch of its new website in November that hosts the new digital banking platform where members can open accounts, apply for consumer and home loans, make loan payments and more. Online bill pay is also available for small businesses.
“It’s just the beginning,” Shults added.
Riverways FCU has approximately 8,653 members.
Expansion in Wyoming
Meanwhile, in Lander, Wyo., Atlantic City FCU said it has expanded its field of membership to include the state of Wyoming.
“We’re grateful to have the opportunity to make a difference in the lives of all Wyomingites with this charter expansion,” said ACFCU CEO Brian Rohrbacher. “Over the past decade, we have invested in the resources and technology to make banking effortless. From strengthening the underserved and vulnerable populations, to serving those who desire forward-thinking, digital-first banking, we stand committed to improving the quality of life of all those who call Wyoming home.”
Atlantic City FCU said it is expanding its field of membership at the same time it has seen a 24.43% rise in loans compared to the same period in 2020. Total assets have risen to $169.88 million, up 16.63% from a year ago.
Previously, the credit union only served those who lived, worked, or worshipped in Fremont County. However, people can now easily apply for membership and loans online. The credit union’s mobile app, featuring remote deposit capture, makes banking on the go simple and secure.
“We’ve had some impressive organic growth, and that is a reflection of having an experienced lending team that puts members first,” Rohrbacher said. “We’re all about caring for our communities and providing the highest possible standard of service for our members. We are honored to have the opportunity to serve the entire state.”