NCUA FOM – Does a credit union need to be located in the strip mall or does the reasonable proximity standard apply?

Compliance > NCUA
Q:  Does a credit union need to be located in the strip mall or does the reasonable proximity standard apply?    
 
A:  No.  A credit union does not have to have a service facility located in the strip mall.  However, as with any other group a multiple common bond credit union desires adding, the office or industrial park group must be within reasonable proximity of the credit union’s service facility. 
 
 
 
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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