Field of membership

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The push to revive the District charter began in 2001, nearly 40 years after the original rule was repealed and CUs there adopted the federal charter.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