STAMFORD, Conn.–Fairfield County FCU said its members have approved a move to a state charter and changing the CU’s name.
Under its federal charter, Fairfield County FCU said it had been prohibited from expanding its service area outside of Fairfield County. Earlier this year, the board decided to pursue the feasibility of switching charters in order to allow for possible future expansion beyond Fairfield County.
With the new FOM the credit union also has a new name: Cornerstone Community Credit Union.
The Cornerstone name is popular, with the Connecticut CU now becoming the 12th to have the word Cornerstone in its name, including three other Cornerstone Community CUs in New York, Iowa and Michigan, respectively.