Community-Based Expansions More Frequent for Credit Unions
|
| Springfield-based Premier Source Credit Union has an application pending before the state Division of Banks to open its membership up to people who live or work in Hampden and Hampshire counties, as well as students enrolled in colleges, universities or post-high school technical programs in the two counties. |
By Andrea Gregory
Kelko Credit Union started by servicing employees of Westvaco, an envelope and paper products company in western Massachusetts. Sixty-five years later, a lot has changed. Now operating under the name Premier Source Credit Union, the Springfield-based institution has 3,800 members and $26 million in assets. Although it is never likely to be a major player in the financial services industry, Bonnie Raymond, chief executive officer of Premier Source, said expansion at some level nevertheless is key to survival of her institution.
Subscribers, click here to read entire story | Click here to purchase a subscription
|
