Tuesday, August 2, 2016

Glendale Area Schools FCU Switches to a Privately Insured, State Charter

Glendale Area Schools Federal Credit Union has successful converted to a California state charter and private share insurance.

Going forward, the credit union will be insured by American Share Insurance (ASI), the nation’s only alternative to federal share insurance.

The credit union viewed the benefits of federal share insurance were outweighed by the costs of the federal charter.

In addition, Latah Federal Credit Union in Idaho is currently finalizing its share insurance and charter conversion following its membership vote of approval and according to Dennis Adams, CEO and President of ASI, a federally chartered Texas credit union is queuing up to start its vote later this summer to become a state charter and privately insured.

Read the press release.

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