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Veritas Federal Credit Union tells board it received NCUA approval to expand membership to northern Madison County
Summary
A Veritas Federal Credit Union board member told supervisors the credit union has approval from the National Credit Union Administration to expand its field of membership to serve residents north of Canton, and asked county leaders for help reaching underserved rural areas.
Larry Cardell Branch, vice chairman of the board of Veritas Federal Credit Union, told the Madison County Board of Supervisors on Dec. 2 that the credit union has received National Credit Union Administration (NCUA) approval to expand its field of membership to include residents of northern Madison County north of Canton.
Branch said the change would make residents in rural parts of the county eligible to join Veritas for financial services and literacy programs. He asked the board for assistance in identifying how to reach underserved communities and whether outreach should be coordinated through municipal or county channels; board members and other attendees suggested shared branching, outreach through churches and local pastors, and possible use of an existing vacant branch space at Sacred Heart Church in northeast Madison County.
Branch said the credit union’s physical branch is on Nissan Parkway near the Nissan plant and that shared-branching arrangements already allow some members to use Veritas rather than driving farther. He left business cards with county staff and said the board of directors intends to discuss outreach and possible branch placement further.
Why this matters: Expanded membership could increase access to banking, loans and financial education for rural residents who the speaker said have been underserved.
What the board did: This was a public comment and informational item; the board did not take formal action other than acknowledging the presentation and suggesting outreach approaches.
Next steps: Branch said he will take feedback back to the Veritas board and consider outreach options; county staff and supervisors suggested follow-up discussions.
