DENVER – Colorado state regulators on Friday approved large community charters for three one-time employee-based credit unions, continuing the trend away from the common bond.

Public Service CU, a one-time utility employees’ credit union which expanded into two counties last year, was approved to serve almost 1 million people in El Paso and Douglas counties.

The $1.2-billion credit union, which served mostly select groups until last year, expanded to serve all 1 million people in Adams and Weld counties under the state’s hybrid charter last year, allowing a combination of community and select groups fields of membership.

The state’s Financial Services Board also approved requests from Colorado CU, a former Johns Manville employees’ credit union, to serve 900,000 residents of Douglas and Jefferson counties, and by Credit Union of Denver, a former federal employees’ credit union, to cover all 620,000 residents of Denver County.

 

Subscribe Now

Authoritative analysis and perspective for every segment of the credit union industry

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.