Field of Membership
Credit Union Field of Membership
Learn more about credit union field of membership (FOM) and the different charter types through CUCollaborate's definitive guide.
Single Common Bond Charter
A Single Common Bond federal credit union is chartered to serve one group sharing a common bond of either occupation or association. Within this designation, there are three potential charter types:
Single Occupational Common Bond — A Single Occupational Common Bond credit union is one whose FOM is made up of employees from a single occupational sponsor.
TIP Charter — A Trade, Industry, or Profession (TIP) credit union serves an FOM sharing a common bond based on employment in a specific trade, industry, or profession.
Single Associational Common Bond — A Single Associational Common Bond credit union may serve all members and employees of a single recognized association.
Expand Beyond What You Thought Was Possible!
Our software platform ExpandCU has an additional feature only available to consulting clients, which considers billions of different expansion options to make sure your credit union chooses the best possible way to expand. As a result, we can identify field of membership options no one else can and that were previously thought to be impossible.
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