BMI FEDERAL CREDIT UNION APPROVED FOR COMMUNITY CHARTER CONVERSION

BMI Federal Credit Union Approved for Conversion to Community Charter, Partnered with Dollar Associates on NCUA Process. Ohio credit union approved by NCUA Board to serve eight counties in Columbus metro area, taking advantage of NCUA FOM rules to build growth and diversification option. Dollar Associates LLC, a leading national credit union consulting firm headquartered in Birmingham and headed by former NCUA Chairman Dennis Dollar, today congratulated one of its clients, BMI Federal Credit Union of Columbus, Ohio for its approval on a unanimous vote by the NCUA Board to serve the eight-county metropolitan statistical area including Columbus, Ohio and the surrounding area. “BMI is a very progressive credit union with a strategic vision for growth and diversification that they felt would be well complemented with a community charter,” said Dennis Dollar, Principal Partner at Dollar Associates, following the NCUA Board action. “They have demonstrated that, even with some significant changes in recent years, the NCUA field of membership rules can still work for many growth-oriented federal credit unions. We were honored to partner with BMI Federal Credit Union on this successful charter conversion project and are excited to see the options for taking their credit union to the next level of growth that this community charter will make available to them.” BMI Federal Credit Union, led by CEO Bill Allender, was previously a multiple group credit union with approximately 241 SEGs and over 27,000 members in the Columbus, Ohio marketplace.