Field of membership

Jim Nussle, CEO of the Credit Union National Association, recently argued that Congress should do away entirely with FOM requirements. Such a move would further favor credit unions over banks.

The $338 million-asset institution already serves more than 3,000 members in the county who were able to join through affiliations with Harford County.

The credit union regulator has not yet announced an agenda, but the meeting could potentially include mattes related to field of membership and risk-based net worth.

Credit unions won the day as the Supreme Court rejected an appeal that would have limited consumers' access to financial services. Now Congress must act to remove those field-of-membership restrictions entirely.

The industry claimed victory over banks as the Supreme Court elected not to hear a challenge to a controversial 2016 rule, but the landscape has shifted dramatically since NCUA approved the measure.

The court's decision not to consider an appeal from the American Bankers Association is likely to be the last step in a legal saga dating back to 2016.

The Philadelphia-based credit union crossed the $3 billion-asset threshold despite a drop in first-quarter earnings.

NSWC Federal Credit Union is rolling out a new name in the hopes of boosting membership and dispelling misconceptions about who can join.

Butte Community Federal Credit Union, which previously served just one county, added five more after getting regulatory approval.

The agency has responded to the American Bankers Association's legal request to strike down expanded membership rules for credit unions.