PAPILLION, Neb.—After changing its name, Cobalt Federal Credit Union, headquartered in Papillion, Neb., is now set to become an Iowa-chartered credit union.
As CUToday.info reported, Cobalt recently changed its name from SAC Federal Credit Union.
As an Iowa state charter, the credit union will add Lancaster and Dodge Counties in Nebraska to its field of membership, the Omaha World-Herald reported. Iowa’s state regulator and NCUA have approved the proposed charter change.
The $1-billion credit union had tried twice to add the two counties to its existing FOM as a federal credit union, but was denied by the National Credit Union Administration, the newspaper said.
The $1-billion credit union was founded in 1946 to serve the Strategic Air Command.