Thanks to support from members and some local lawmakers, the Virginia legislature passed a bill to ease voluntary mergers of state chartered credit unions. Gov. McAuliffe signed the bill into law at the end of March.
We are grateful to FCFCU members who called and wrote to their legislators to support this legislation. Special thanks also goes to Del. Tim Hugo and Del. Dave Marsden for their support.
The legislation will give state credit unions new flexibility with regard to pursuing voluntary mergers, enabling them to adapt in today's rapidly evolving financial services marketplace.