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NCUA's field-of-membership working group will begin reaching out to credit union stakeholders next month for input as the agency reviews ways to make FOM rules more workable.

The group's work was noted during Thursday's NCUA Board discussion of a proposed community charter expansion request by Taunton Federal Credit Union (which was approved; see story). NCUA Board Chairman Debbie Matz noted that the credit union dropped two cities it originally sought to add due to NCUA FOM rule restrictions. This, to her, underscored the need to review current rules.

Staff said the working group, made up of agency staff, has sorted issues that need to be addressed into three categories: procedural, regulatory and legislative. The procedural and regulatory issues will be presented to the board for action, they said.

NAFCU is strongly urging NCUA to do what it can to ease current rules now as it also seeks action on Capitol Hill.

"By now, all NCUA board members and many staff have openly acknowledged the need for FOM rule improvements," said Alicia Nealon, NAFCU's director of regulatory affairs. "NAFCU sees real opportunity for winning flexibility that will allow federal credit unions to serve more consumers who choose credit unions."