How to Apply for Community FOMs Greater Than 2.5M

As you all know, a community-chartered federal credit union serves a single well-defined community or rural district. Federal credit unions with community charters can serve persons who live, worship, attend school or work in the ...

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Low-Income Credit Unions Stack Up Well With All CUs

People often intermingle the terms Community Development Financial Institution and Low-Income Credit Union designation. They’re similar, yet entirely separate, designations, and they’re also different from adding an underserved ...

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Bankers Taking Credit Union Battles to the States

The banking trade associations have found little ‘relief’ at the federal level from the alleged overstepping of credit unions’ legal authorities and have turned to the state level with their attacks. Whether the issue is field of ...

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Credit Union Low-Income Designation Overview

A credit union serving predominantly low-income members may be designated as a low-income credit union. Section 701.34 of NCUA’s Rules and Regulations defines the term “low-income members” as those members:

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Occupational Common Bond Overview

If a credit union serves a single occupational sponsor, such as ABC Corporation, it will be designated as an occupational credit union. A single occupational common bond credit union may also serve a trade, industry, or ...

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