BMI FCU Gets Charter Expansion

A request from the Dublin, Ohio-based BMI FCU for a conversion to community charter was approved Thursday by the NCUA Board.

As of June 30, the $378.6 million-in-assets credit union served about 27,458 members from 440 groups, with a 54.92 percent penetration rate. Potential members totaled 50,000.

The community charter allows BMI FCU to serve individuals who live, work, worship and attend school in, and businesses and other legal entities in the Columbus, Ohio, metropolitan statistical area. That eight-county area has a population exceeding 1 million, triggering the requirement for NCUA Board review.

In voting to approve the conversion, NCUA Chairman Debbie Matz highlighted the credit union’s financial education and payday alternative loan programs as evidence of its commitment to serving the community.

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