Vantage currently operates as a state-chartered, federally insured geographic area credit union in Missouri. It was chartered in as Suburban Teachers Credit Union, growing over the years through a combination of mergers and field of membership expansions. Its current field of membership includes the City of St.
Louis, five Missouri counties and two Illinois counties. Region IV believes that Vantage Credit Union is financially sound and that its management has proven it can operate the credit union in a safe and sound manner. Vantage submitted its original community conversion application package to Region IV on November 4, , requesting the entire St. After consultation with the Region, Vantage narrowed its requested community to St.
Louis City and 7 continuous counties, which is a portion of the St. Louis MSA. The proposed community includes the City of St. Louis, 4 contiguous counties in Missouri Franklin, Jefferson, St. Charles and St. Louis and 3 contiguous counties in Illinois Madison, Monroe and St. The geographic area encompassed within the proposed community is square miles.
See footnote 2. If the proposed community is approved, service to potential members will not change materially. On February 12, , Vantage submitted a request for reconsideration which the Region denied on March 19, The issue in this appeal is whether the proposed community the City of St.
Louis, Franklin, Jefferson, St. Congress did not define the word local in either the FCU Act or its legislative history. The proposed community meets the requirement of being well-defined in that it consists of the City of St.
