NCUA FOM – What do you need to demonstrate ability to serve a rural district? Do you require branches?

Compliance > NCUA
Q:  What do you need to demonstrate ability to serve a rural district?  Do you require branches?
 
A:  NCUA will review and assess the credit union’s business plan as a whole and its intent and ability to effectively serve the community with the current and planned branch structured outlined in the business plan.  There is no requirement that you have a specific number of branches or service facilities in order to serve a rural district.  See the guidance outlined in NCUA Letter to Federal Credit Unions 11-FCU-03, available at:  https://www.ncua.gov/regulation-supervision/Pages/policy-compliance/communications/letters-to-federal-credit-unions/2011/03.aspx
 
 
 
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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