CUNA Sends Field of Membership Reform Recommendations to NCUA

CUNA wrote to the NCUA on Monday with several recommendations to reform field of membership requirements to strengthen the federal charter and ensure that all Americans have access to the financial benefits credit unions provide.

In the letter, CUNA suggests conducting field of membership reform by breaking changes down into three buckets:

  1. Simple policy changes;
  2. Items which would require a rule change; and
  3. Items requiring legislative action.

CUNA comments in the letter, “CUNA places field of membership reform among our top issues of concern because credit unions tell us that the current system is unnecessarily cumbersome and restricts their ability to grow to serve their members and continue to fulfill their mission to promote thrift and provide access to credit for provident purposes to their members. We appreciate NCUA’s efforts to reform field of membership requirements and we applaud the creation of the NCUA working group to look at these issues.”

Visit CUNA’s News Now to learn more.

Questions about this story? Contact James Pearson: 206.340.4790, jpearson@nwcua.org.

Posted in Advocacy News, CUNA, NCUA.