NCUA FOM – Will NCUA approve a community charter than allows more than one credit union to serve the same area?

Compliance > NCUA
Q:  Will NCUA approve a community charter than allows more than one credit union to serve the same area?       
 
A:  Yes.  NCUA permits community credit unions to overlap any other charters without performing an overlap analysis.  There is no overlap protection provided to community credit unions from another community charter.  More than one credit union can serve the same geographic area.    
     
 
 
ADDITIONAL INFORMATION:
This information was obtained from the NCUA’s website, Chartering and Field of Membership Resources page -    https://www.ncua.gov/services/Pages/field-of-membership-chartering.aspx
 

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