You can join a credit union if: You work for a firm whose employees sponsor
one, you're a member of a sponsoring association (union, club, and so on).
You are a resident of a geographical area with a credit union charter.
If these options aren't available, you may want to start your own credit union.
You may form a credit union under these circumstances: You work for a firm
with more than 200 employees. (Actually, for it to be economically viable, there
should be many more members. However, the corporation may deposit up to $ 100,000.)
You belong to a club, union , or fraternal organization of a substantial size
that wants to sponsor a credit union.
You live in a cohesive community. Recent laws have been changed to permit communities
of over 25,000 people to obtain credit union charters. However, they must qualify
as cohesive communities and cannot be even as large as small cities. For instance,
New Haven CT with a population of over 120,000 would not qualify.
More information: Contact the National
Credit Union Administration, Washington, DC
20456. (There are also five regional administrators: Austin, TX; Boston, MA;
Harrisburg, PA; San Francisco, CA; and Atlanta, GA).