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Article: Credit unions pursue options for growth. (Ohio Central Federal Credit Union and other credit unions seek charter change to lose credit union structure)
- Article from:
- Crain's Cleveland Business
- Article date:
- September 22, 1997
- Author:
CopyrightCOPYRIGHT 1997 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Ohio Central Federal Credit Union, which operates offices in Cleveland and suburban Columbus, is seeking to convert its charter to a federal mutual savings association in response to a court decision limiting credit unions' ability to grow.
Ohio Central is believed to be the first credit union in the state to propose becoming something other than a credit union, said Sue Powell, vice president of marketing and communications for the Ohio Credit Union League. Four other credit unions - including Eaton Family Federal Credit Union and City Link Federal Credit Union, both in Cleveland - have filed applications to change to a state charter from a federal charter, Ms. ...