Q: We merged with a state chartered community credit union several years ago that included the south and southwest suburbs of Chicago. I am not sure of the current population, but since the state approved the community can we add the community to our federal charter?
A: No. State field of membership rules often differ from NCUA’s rules. Therefore, you cannot use the community portion of the field of membership of a state-chartered credit union to support an application for a federal field of membership. As a multiple common bond credit union, your ability to serve a community is limited to adding an underserved area or converting to a community chartered credit union.