Treasury Department FCU gets field-of-membership expansion

Treasury Department Federal Credit Union in Washington, D.C., could see its membership grow by as much as 72% after a recent extention of its field of membership.

The National Credit Union Administration last month approved the addition of 31 census tracts to the $179 million-asset institution’s field of membership.

Consumers are now eligible for membership in census tracts extending from Germantown, Md., to Westmoreland State Park, Va., and from Patuxent Research Refuge, Md., to Stafford, Va.

“Since our founding in 1935, our purpose is to improve the quality of life for our members by providing affordable financial products and services. Now more consumers will have their dreams of a better future fulfilled,” Alfred Scipio, president and CEO of Treasury Department FCU, said in a press release.

The credit union hired CUCollaborate to help add the underserved areas to its existing membership.

The credit union lost about $163,000 during the first three quarters of this year after earning about $438,000 in the first three quarters of 2019, according to call report data from the National Credit Union Administration.

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