Oct. 5, 2012 – NAFCU is asking member credit unions for feedback on a proposed rule that would revise the definition of “rural district” in NCUA’s Chartering and Field of Membership Manual.
The proposed revision would affect credit unions seeking community charters under the “rural district” option. Currently, this option is available if the rural district has a population of no more than 200,000. The proposal would also allow a credit union to qualify for the definition if the rural district in question includes no more than 3 percent of the state’s population.
NAFCU has pushed for changes to NCUA’s definition of “rural district” both formally through letters to the agency and in meetings with agency officials. In the past six months alone, the association addressed the issue in two separate letters in addition to discussing the matter with the agency several times.
NAFCU is asking members to provide their input by Nov. 5. Comments are due to NCUA by Nov. 26.
The proposed rule is explained in further detail in NAFCU’s Regulatory Alert (members only).