National Credit Union Administration November 9, 2016 – Federal Register Recent Federal Regulation Documents

Chartering and Field of Membership Manual
Document Number: 2016-26921
Type: Proposed Rule
Date: 2016-11-09
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board proposes to amend its chartering and field of membership rules to give applicants for community charter approval, expansion or conversion the option, in lieu of a presumptive community, to submit a narrative to establish common interests or interaction among residents of the area it proposes to serve, thus qualifying the area as a well-defined local community. The Board also proposes to increase up to 10 million the population limit on a community consisting of a statistical area or a portion thereof. Finally, when such an area is subdivided into metropolitan divisions, the Board will permit a credit union to designate a portion of the area as its community without regard to division boundaries.