REMEMBER THAT GIANT BOOK REPORT?
Community Charter Expansion Applications are just like that ginormous book report you did back in the day. Lots of research. Lots of statistics. Lots of writing. Lots of coffee. Maybe some pretty charts and graphs.
The bottom line is any credit union can prepare a Community Charter Application. It’s not difficult. But it IS time-consuming. It’s not a project someone can work on for 20 minutes today and 30 minutes tomorrow and an hour on Friday.
We have the resources and the methodology to prepare the application. We do the majority of the work, but you’ll have to do a little of the number-crunching with the financials, the projections, the trends and some of the community information.
We put it all together in a nice complete package, and we have a pretty good track record. Since 2005, we’ve submitted 10 Community Charter Applications - six to NCUA and four to the State of Ohio’s Division of Financial Institutions. All 10 were approved.
If you’re considering a Community Charter, bring it on! We’re thrilled to see credit unions grow.