Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Consolidated FCU to close S. Carolina branch
PORTLAND, Ore. (1/22/08)--Consolidated FCU, a Portland, Ore.-based credit union, announced it will close its Seneca, S.C., branch Feb. 29. In 1974, the Seneca office opened as a branch of Jantzen FCU to serve Jantzen employees working in Seneca and Westminster, S.C. After the Jantzen sewing and distribution center closed, the credit union applied for, and was granted, a local community charter in Oconee County, S.C., after regulators determined the area to be an underserved area (UpstateToday.com Jan. 18). In 1996, Jantzen FCU merged with Consolidated FCU. Recently, Consolidated FCU was granted the authority to serve people in the Portland tri-county metropolitan area. As a condition for expanding the credit union’s field of membership, the National Credit Union Administration (NCUA) mandated that Consolidated FCU stop enrolling new members at its Seneca location. The NCUA requirement stems from a lawsuit filed by an out-of-state bankers group, which challenged the NCUA’s authority to approve a community chartered credit union in one state to operate an underserved community in a different state. The closing of the Seneca branch is unrelated to its finances, which are sound, Ed Baldwin, Consolidated president/CEO, told the newspaper.


RSS print
News Now LiveWire
Stay tuned for coverage of @CUNA's BSA conference which starts Sunday. #CUNABSA #CUNACompliance
1 Day ago
Today's the last day to complete @CUNA's Home Depot data breach survey http://t.co/UcB8G9bVXe #StoptheDataBreaches
1 Day ago
Brenda Davis of Cross Roads Ministries will walk through 83 communities during the Ending Hunger Walking tour. (2 of 2)
1 Day ago
The Ending Hunger Walking tour, coordinated by the Maine CU League, kicked off at Old Maine CU in Augusta today. (1 of 2)
1 Day ago
Darwin Brokke of Citizens Community CU represented the #CU Association of Dakotas at a housing summit hosted by @SenatorHeitkamp
1 Day ago