Comments due to NCUA by February 8, 2016
NCUA’s Proposed Rule addresses the major
field of membership improvements that CUNA requested in a June letter to
NCUA and has continued to press the agency to make. We strongly
support this proposed rule along with NCUA’s efforts to streamline the
agency’s FOM processes. We strongly encourage credit unions to comment
to NCUA voicing support of the agency’s efforts.
- To learn more and submit comments on Field of Membership, click here.
- To submit pre-written comment letter to NCUA, click here.
- To read our comment letter, click here.
The National Credit Union
Administration’s (NCUA) proposed rule that would amend the Chartering
and Field of Membership Manual making revisions to the agency’s Field of
Membership (FOM) rules. Because credit unions are only open to certain
segments of the population, as required by the Federal Credit Union Act
(FCUA), the NCUA is tasked with promulgating regulations that determine
who credit unions can have as members.
The major proposed changes are:
- Core Area Service Requirement
- Population Limit as Applied to a Well-Defined Portion of a CBSA
- Use of Combined Statistical Area
- Addition of an Area Adjacent to a CBSA
- Congressional District
- Rural District Population Limits
- Exclusion of Non-Depository Institutions and Non-Community Credit Unions when Calculating the Concentration of Facilities Ratio
- Reasonable Proximity through Members’ Online Access to Services
- Inclusion of Select Employee Group Contractors in a Multiple Common
Inclusion of Office or Industrial Park Tenants in Multiple Common Bond
- Streamlined Determination of Stand-Alone Feasibility of Groups Greater than 3,000
- Other Persons Eligible for Credit Union Membership