Oklahoma Administrative Code
Title 180 - Oklahoma State Credit Union Board
Chapter 10 - Supervision, Regulation and Administration
Subchapter 3 - New Credit Unions, Mergers, Conversions and Field of Membership
Section 180:10-3-7 - Single common bond field of membership

(a) A credit union must obtain Board approval of select employee group and select associational group additions to the field of membership of a single common bond credit union, except when the credit union has a composite CAMEL rating of 1 or 2 as of the credit union's last examination and seeks to add a group whose potential primary members do not exceed 500 or 10% of the credit union's existing membership, whichever is less.

(b) If Board approval of a select associational group or select employee group is required, the credit union must submit to the Board an Application for Field of Membership Expansion. Such application must contain:

(c) If Board approval of a select associational group or select employee group is not required, the credit union must complete and retain an application that shall contain the same information as described in subsection (b) of this section.

(d) A single common bond credit union may not add to its field of membership an OMSA or political subdivision.

(e) A community credit union or multiple common bond credit union that amends its bylaws and declares itself to be a single common bond credit union may retain all existing members and may add new members that otherwise qualify for membership in the credit union by being a member of the select employee group or select associational group being duly serviced by the credit union.