Tuesday, January 23, 2018

The States of Alaska and Wyoming Are Rural Districts.

In December, the National Credit Union Administration approved two states as rural districts.

NCUA granted Reliant Federal Credit Union (Casper, WY) a community charter for the state of Wyoming. This is the second credit union to be granted Wyoming as a community charter. The other credit union was WYHY Federal Credit Union (Cheyenne, WY), which received a community charter for Wyoming in November.

NCUA also approved the application of Matanuska Valley Federal Credit Union (Palmer, AK) to serve the entire state of Alaska. NCUA determined that Alaska met the requirement for a rural district community charter. The population of the state is less than 1 million and the state's population density of 1.2 people per square mile is below the population density threshold of 100 people per square mile for a rural district. However, it appears that NCUA did not consider the evidence that 66 percent of Alaska's population lives in urban areas.

Read NCUA's December Report of Insurance Activity.

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