NCUA FOM – Does allowing more than one credit union to serve the same community hurt the other credit unions already serving the area?

Compliance > NCUA
Q:  Does allowing more than one credit union to serve the same community hurt the other credit unions already serving the area?     
 
A:  There are many successful credit unions serving the same or similar fields of membership.  This has occurred in an environment where credit unions have faced ongoing competition from both traditional and nontraditional financial service providers.      
     
 
 
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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