Reminder: FOM Comment Period Closes Soon

As a reminder, the NCUA published a second FOM proposal recently, with comments due December 9. It’s up to your credit union to ensure the Northwest delivers a strong and unified message.

The proposed rule would:

  • Increase to 10 million the 2.5 million person limit which currently applies to community charters consisting of a combined statistical area;
  • Create a streamlined narrative approach that credit unions could utilize to establish a well defined community of interest;
  • Allow a credit union to designate a portion of a metropolitan division as a community without regard to division or boundaries.

Next Steps

To show the NCUA the Northwest Credit Union Movement’s resounding support for expanding field of membership, the immediate ask is that all Northwest credit unions ask their Board Members and staff to influence the process by submitting comments on this important proposal.

Need tips on how to submit effective comments? Click here.

You may do so directly on the Federal Register site, here. We are asking each credit union to thank the NCUA board for issuing this proposal, and to mention their support for the bulleted provisions listed above.

Questions about this story? Contact Eric Horvath: 503.350.2222, ehorvath@nwcua.org.

Posted in Advocacy News, Federal, NCUA.