For many credit unions, the options to expand their field of membership (FOM) are limited and heavily regulated. Multiple-common bond credit unions, as a result, are increasingly turning to adding an open membership association ...
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The NCUA’s TIP (Trade, Industry or Profession) charter offers credit unions the opportunity to serve a highly specific, narrowly defined group. Rules surrounding the charter are strict, stating this group must share a common bond ...
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Originally Posted on CUInsight
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Choosing the right charter for FOM (Field of Membership) expansion is vital to a credit union’s strategy for growth. Institutions are offered the opportunity to operate under three specific types of charter: single common bond, ...
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