NCUA FOM – If at the time of approval as a well-defined local community a multiple political jurisdiction was under 2.5 million people, does the area qualify as a previously approved if the population now exceeds 2.5 million people?

Compliance > NCUA
Q:  If at the time of approval as a well-defined local community a multiple political jurisdiction was under 2.5 million people, does the area qualify as a previously approved if the population now exceeds 2.5 million people? 
 
A:  There is no population limit applicable to a community that was previously approved by NCUA.  As such, if an NCUA previously approved community currently exceeds 2.5 million in population, it can still be requested to be served by a federal credit union.        
 
 
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
 

Add Feedback