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Credit Union Input Needed as Deadline Looms for Federal FOM Comment Letters

Credit union advocates across Kansas and Missouri are encouraged to submit comment letters to the National Credit Union Administration (NCUA) in favor of proposed revisions to the Chartering and Field of Membership (FOM) Manual. Banker letters in opposition, including those from staff, have started to arrive in large numbers during these last few days of the comment period.  

While this proposal affects federally-chartered credit unions, state-chartered credit unions are strongly encouraged to also send comment letters. The due date is February 8.  

Take Action Today!

Credit union employees are encouraged to send letters in addition to the official letter from their credit union. Click here to submit a personal letter in support of the FOM proposal. Please submit by February 8.

“It is important that credit unions – not banks – are the dominant voice in this issue,” explains John Thomas, Heartland Credit Union Association Compliance. “This is positive for credit unions and allows greater consumer access to credit unions. When more people can use a credit union, whether it is a federal or state charter, it is improved access and greater consumer choice.”

HCUA sent a communication outlining more detailed points for credit union comment letters to credit union presidents. If you have specific questions, please contact John Thomas.