Missouri Code of State Regulations
Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE
Division 1105 - Credit Union Commission
Chapter 3 - Credit Union Membership and Chartering
Section 20 CSR 1105-3.020 - Criteria for Additional Membership Groups

(A) The credit union is operating in a safe and sound manner and is making satisfactory progress in addressing any adverse conditions, including but not limited to areas of concern identified in the most recent supervisory examination report, or other regulatory concerns that may exist;

(B) The credit union is "adequately capitalized." The commission defines adequately capitalized, exclusively for the purpose of adding new membership groups, to mean that the credit union has a net capital ratio of not less than seven percent (7%). The director may determine that a net capital ratio of less than seven percent (7%) is adequate if the credit union is making reasonable progress toward meeting the seven percent (7%) net capital requirement;

(C) The credit union has the administrative capability and the financial resources to serve the proposed group; and

(D) The formation of a separate credit union by such group is not practical and consistent with reasonable standards for the safe and sound operation of a credit union.