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Comments on the NCUA's new proposed field-of-membership rule, which furthers community charter options for federal credit unions, are due Dec. 9.

NAFCU members can review the association's Regulatory Alert for more information.

The new proposal, in provisions sought by NAFCU, would raise the population cap for well-defined communities from 2.5 million to 10 million and allow credit unions seeking community charter expansions to present a narrative as to why certain areas would qualify for inclusion.

NAFCU is continuing to push the NCUA to give more FOM relief, including the elimination or increase of core-based statistical area population limits, the creation of a formal notification process for credit union FOM-related applications and the streamlining of the merger authorization process.

The agency's other final FOM rule is set to take effect 60 days after publication in the Federal Register; a Final Regulation is available for review for NAFCU members.

The NCUA's finalized FOM rule also includes several NAFCU-sought provisions, including a revised definition of "well-defined, local community" to include combined statistical areas and portions of core-based statistical areas, and the expansion of the definition of TIP ("trade, industry or profession") to include employees of entities with a strong dependency relationship with entities in the same industry.