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Field-of-Membership Proposal - Comments Due December 9

Credit unions in Kansas and Missouri have an opportunity to comment on the National Credit Union Administration's (NCUA) field-of-membership (FOM) proposal. Comments are due by December 9. The proposed rule makes several changes recommended by credit unions.  

The NCUA's proposal impacts field-of-membership for federally chartered credit unions, and would:

  • Increase the population cap from 2.5 million to 10 million.
  • Reinstates a narrative approach to establishing common interests among residents in a proposed field of membership area, rather than a "presumptive community" assessment.
  • Correct an error in the final rule that inadvertently restricts fields of membership inside core-based statistical areas to not more than 2.5 million people in a metropolitan division, rather than the core-based statistical area.

The proposal also asks questions about possible alternatives to field-of-membership issues. For more details, view the proposal. You can also submit your comment letter on this webpage. Simply click the green button at the top of the page to get started.   

The Heartland Credit Union Association will submit a comment letter on behalf of its member credit unions.