Small Montana credit union more than triples potential membership pool
The National Credit Union Administration has approved Butte Community Federal Credit Union’s request to add a rural district to its field of membership.
The new area includes five counties in Montana and increases the Butte, Mont.-based credit union’s potential pool of members by roughly 81,000, according to a press release on Friday. The move more than triples the $25 million-asset credit union’s potential members, which was just under 35,000 at the end of 2019, according to data from the National Credit Union Administration. Prior to this expansion it served just one county and had about 2,600 members.
“We look forward to serving the people in these counties. Many of them live in areas with few options when it comes to financial service providers,” Karen Mandic, president of Butte Community FCU, said in the press release. “We hope they’re excited about the advantages of being able to join our credit union.”
Butte Community FCU was founded in January 1970 as Butte Public Employees Federal Credit Union. In April 2005 it switched to a community charter so it could serve all of the residents of Silver Bow County, Mont., and then rebranded as Butte Community FCU the next month.
The credit union earned about $50,700 in the first quarter, roughly double its income from the same period a year earlier, according to data from the National Credit Union Administration.