(Columbus)--Donna Owens, director of the Ohio Department of Commerce, announced today the application approval for Ohio’s newest state-chartered credit union -- Jewish Hospital Credit Union, 3200 Burnet Avenue, Cincinnati. Ohio Superintendent of Financial Institutions W. Curtis Stitt issued the Certificate of Authority to Commence Business yesterday.

According to its state charter application, the credit union decided to seek a state charter following the AT&T Family Federal Credit Union court case and the injunction issued against the National Credit Union Administration's (NCUA) field of membership policy. The credit union was previously regulated by the NCUA.

In making the announcement, Director Owens said, "The Ohio Department of Commerce looks forward to working with Jewish Hospital Credit Union as it continues to service the needs of its members."

The credit union, with $7.4 million in assets, has a branch office located at 8740 Montgomery Road, Cincinnati.

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The Ohio Department of Commerce’s Division of Financial Institutions regulates financial institutions chartered in Ohio. The superintendent serves as chief executive officer of the division and three deputy superintendents oversee the sections of Banks, Savings and Loans/Savings Banks, and Credit Unions. These sections are responsible for all examination, supervision and regulation activities of each specific industry. In addition to financial institutions, Commerce also regulates securities, industrial compliance, fire codes, unclaimed funds, and real estate, among other industries. The former Department of Liquor Control joined the department on July 1, 1997 as the Division of Liquor Control.