FEDERAL COMMUNITY CHARTER TO MULTIPLE COMMON BOND CHECKLIST

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Considering converting to a multiple common bond?

A federal credit union may be chartered to serve a combination of distinct, definable single occupational and/or associational common bonds. This type of credit union is called a multiple common bond credit union. Each group in the field of membership must have its own occupational or associational common bond. For example, a multiple common bond credit union may include two unrelated employers, or two unrelated associations, or a combination of two or more employers or associations. Additionally, these groups must be within reasonable geographic proximity of the credit union. 

Access our Step by Step Checklist by filling out the form to the right.