BRAGG MUTUAL FCU APPROVED TO ADD UNDERSERVED AREA TO FOM
Bragg Mutual Federal Credit Union was recently approved to serve parts of Harnett County, North Carolina.
Bragg Mutual FCU was recently approved to serve parts of Harnett County, North Carolina.
WASHINGTON D.C. June 8, 2020: The NCUA recently approved the addition of an underserved area to Bragg Mutual FCU’s field of membership (FOM). The underserved area allows Bragg Mutual FCU to offer their services to anyone who lives, works, worships, studies, and businesses in parts of Harnett County, North Carolina. The underserved area increases Bragg Mutual FCU’s potential field of membership by 61,713 potential members.
“We look forward to serving the people of Harnett County. Many of them live in areas with few options when it comes to financial service providers,” said Steve Foley, President of Bragg Mutual FCU. “We are excited to be able to meet some of the significant unmet financial needs of the community.”
Bragg Mutual FCU enlisted the help of CUCollaborate to add to their existing field of membership. CUCollaborate provides consulting services to help credit unions expand their FOM with their regulator.
“CUCollaborate used their expertise to make the process of adding an underserved area to our field of membership easy. It was not something we had the time to handle internally. They worked persistently to make sure our application was approved. I plan to use them again for any future field of membership expansions.” Foley stated.
“We are excited that Bragg Mutual FCU’s underserved area application was approved. Helping credit unions reach and effectively serve economically distressed communities is one of our company’s missions. We hope that we can help Bragg Mutual again in the future.” said Sam Brownell, Founder and CEO of CUCollaborate.
CUCollaborate, is a consulting, software development, and digital marketing company whose mission is to help credit unions grow. CUCollaborate primarily focuses on addressing credit union’s biggest obstacle to growth, field of membership.
About Bragg Mutual Federal Credit Union
Bragg Mutual Federal Credit Union has been serving the people and business in and around Cumberland County since 1952. The credit union has assets totaling $83.3 Million and provides banking services to selected people and businesses in Southeastern North Carolina. Bragg Mutual is recognized as one of the fastest growing credit union in terms of percent of asset growth in North Carolina. The credit union is a member-owned financial cooperative providing financial banking services to multiple member groups and communities. Membership is also open to immediate family of current members.
Sam Brownell, CEO
Bragg Mutual FCU
Steve Foley, CEO
Field of Membership Expansion