LOS ALAMITOS, Calif.–Credit unions in California and Louisiana have announced field of membership expansions.
In California, Southland Credit Union has expanded its field of membership to all of Los Angeles County.
Previously, Southland’s FOM was limited to certain cities and zip codes in the county. The credit union also serves those who live, work, attend school or worship in all of Orange County, Calif.
Southland Credit Union said its expansion request was approved by the California Department of Business Oversight (DBO) in June. It has branch locations in Long Beach, Carson, Downey, Santa Monica and the Los Angeles Federal Building.
“This approval is a significant milestone for our Credit Union,” Southland Credit Union Chief Executive Officer Tom Lent said. “We now have the opportunity to reach more potential Members with our exceptional, comprehensive and innovative financial solutions! It will simplify our Membership qualification requirements and allow us to deliver our uniquely personal Southland service to an expanded area.”
The $800-million Southland CU has approximately 60,000 members.
Expansion in Louisiana
Also granted an FOM expansion was La Capitol FCU in Baton Rouge, La., which has been approved by NCUA to expand into six additional Louisiana parishes. Those parishes include Orleans, Jefferson, Plaquemine, St. John, St. Bernard and St. Charles - which are considered underserved and low income.
The credit union said the move roughly doubles its potential membership scope, which previously included individuals who live or work in the City of Baton Rouge and the following parishes: Allen, Grant, Lincoln, Natchitoches, Ouachita, Rapides, Terrebonne and Tangipahoa. The $506-million La Capital was founded in 1961 to serve the employees of the Louisiana Department of Commerce and Industry.