Q: In rural areas, does the ‘ability and intent’ to serve dictate that there must be a physical building? One of our counties has a population of only 250 people.
A: No. However, a credit union requesting a charter for a sparsely populated area must show how it will serve the area. The ability and intent to serve can be supported in a variety of ways beyond a branch office, including remote services, ATM network participation, mobile branches, shared branching, and how the nearest city housing a credit union service facility can serve and provide services to the sparsely populated areas of the rural community.