Vegas credit union sold

Friday, July 13, 2001 | 11:23 a.m.

The United Services of America Federal Credit Union of San Diego has assumed the charter of the Enterprise Community Federal Credit Union in Las Vegas.

Terms of the acquisition were not disclosed.

By taking over the charter, USA Federal acquires the shares, loans and assets, worth about $1.4 million, of about 500 customers in an enterprise zone in Las Vegas' westside neighborhoods.

Lynn Laing, marketing director of USA Federal, said the Enterprise Community Federal Credit Union is unusual in that its membership eligibility is determined geographically and not by employment or group membership. The enterprise zone served by the credit union is within an area bordered roughly by Cheyenne Avenue, Rancho Drive, Charleston Boulevard and Mojave Road. About 60,000 people who live, work and worship within the enterprise zone are eligible to join the credit union.

USA Federal will consolidate an Enterprise office at 626 S. Ninth St. into its branch at 1100 N. Martin Luther King Blvd., and will keep an Enterprise office at 1951 Stella Lake St. USA Federal also operates an office on East Flamingo Road.

USA Federal, which has more than 50,000 members and assets in excess of $430 million worldwide, in August acquired the Westside Federal Credit Union, which served the Las Vegas branch of the National Association for the Advancement of Colored People.