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.

The National Credit Union Administration has filed a brief in opposition to the American Bankers Association's request that the court consider its challenge of the agency's field-of-membership rule.

The Georgia-based credit union hopes to gain more flexibility to widen its field of membership by switching from a federal charter.

The push to revive the District charter began in 2001, nearly 40 years after the original rule was repealed and CUs there adopted the federal charter.

Even CUs that don’t directly serve the oil and gas industry are likely to be impacted, experts say.

A letter from Todd Harper, a member of the National Credit Union Administration board, called on lawmakers to make a variety of legislative changes to help credit unions and consumers weather the pandemic.

The $468 million-asset institution said expansion isn't required now but the move is a proactive attempt to ensure its long-term viability.

The New York-based credit union is set to absorb Hudson River Financial FCU and Columbia-Greene FCU following charter conversions at those institutions. Sunmark has picked up at least two other small CUs within the last 18 months.

As Americans embrace social distancing, institutions may be forced to rethink board and annual membership meetings. The change could be lasting.

Nebraska bankers sued after MembersOwn Credit Union successfully added eight counties to its field of membership last year.

The credit union can now serve consumers in two additional counties.