NCUA FOM – Can you address how, if at all, the ability of a credit union to use online or mobile banking services to serve a membership area?

Compliance > NCUA
Q:  Can you address how, if at all, the ability of a credit union to use online or mobile banking services to serve a membership area?  Specifically looking for insight to rural areas for which building a branch may not make sense.
 
A:  A credit union requesting a charter for a sparsely populated area must show how it will serve the area.  It is often difficult to demonstrate the ability to serve without a physical presence throughout the area unless there are unique local factors, such as residents traveling long distances to a central trade area within your service 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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