In Brief: NCUA to Expand Membership Field Rules
ALEXANDRIA, Va. - At its next meeting on March 27, the National Credit Union Administration board is expected to approve rules that would allow federal credit unions to establish tradewide, industrywide, or professional fields of membership for the first time.
The final rule would be little changed from the proposal issued for public comment. It would establish automated teller machines and shared branches as full-service operations for the sake of adding select groups in "reasonable proximity" and would broaden community chartering allowances.
The board is also expected to issue for a 60-day comment period for amendments easing its member business loan rules. The proposal would exclude acquired business loan participation from congressionally mandated caps and would exempt member business loan vehicle loans from the 80% loan-to-value requirement, thereby allowing 100% financing.