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Effective date for NCUA revisions to membership rules


The NCUA Board has published a final rule in today's Federal Register comprehensively amending its chartering and field of membership rules at 12 CFR Part 701 to maximize access to federal credit union services to the extent permitted by law, and to organize the rules in a more efficient framework. The amendments will implement changes in policy affecting: the definition of a local community, a rural district, and an underserved area; the chartering and expansion of a multiple common bond credit union; the expansion of a single common bond credit union that serves a trade, industry or profession; and the process for applying to charter, or to expand, a federal credit union. The amendments will be effective 60 days after publication, on February 6, 2017.

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