WOODBURY, Minn. – The board of Postal CU has approved an amendment to its field of membership bylaws that will allow anyone making a $5 donation to the John D. Miller Scholarship fund anywhere in the country eligible for membership in the $530 million credit union.
This means anyone in the continental U.S. can join the Minnesota credit union.
Previously, residents from six surrounding counties or donors donors to the fund from Minnesota and Wisconsin were eligible to join.
Credit unions are increasingly using outside groups to extend their membership eligibility nationwide. More than two dozen credit unions across the country, for example, allow members of the San Diego-based American Consumer Council to join their credit union.
The John D. Miller Scholarship was named for a former postmaster in Hinckley and Lake City, Minn, and originally opened doors for membership in the credit union in a six-county area. The foundation has awarded $225,000 in grants since its 1980 inception.