WASHINGTON-In its comment letter to NCUA on proposed changes to the field of membership rules, CUNA pressed for additional leeway for applications involving multiple political jurisdictions and rural districts. If not, said CUNA, NCUA will discourage "credit unions from seeking community charters" or expanding FOMs.
CUNA's comments come as NCUA mulls a plan designed to create objective and quantifiable criteria to determine what is a well-defined local community for areas that encompass multiple group areas. NCUA has also proposed changes related to rural areas.
CUNA's letter, based on recommendations from an FOM working group headed by Truliant FCU CEO Marc Schaefer, urged NCUA to "consider whether a statistical area definition for rural district is appropriate or necessary," and further pressed the agency to "reconsider" its plan to use specific statistical criteria for multiple political jurisdictions to be considered a community.
