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In a Credit Union Times editorial online now, NAFCU President and CEO Dan Berger expresses the association's hope that the NCUA's newly proposed and final field of membership rules, both slated for board action today, will address NAFCU's longstanding concerns on the topic.

"If the NCUA addresses many of the concerns NAFCU and our members have submitted to the agency, the new FOM rule will help ease some of the stifling regulatory burden that hinders credit unions' ability to develop and serve their communities," Berger wrote in the editorial, published Wednesday. "Clearly, consumers are interested in credit unions — membership has reached nearly 105 million — and credit unions would like to serve more but are prevented from doing so based on existing regulations.

"By any standard, these changes are long overdue," he continued. "Consumers merit the choice of a financial institution that puts them first. We hope NCUA's new FOM rule will help make that a reality."

NAFCU has expressed support for the existing proposal but has urged that more be done to give the industry regulatory relief, including: eliminating or increasing the core-based statistical area population limits, establishing a formal notification process for credit unions making FOM-related applications, and considering new ways to efficiently authorize mergers.

Berger said he hopes the final rule and proposal will address the many comments NAFCU and its members have made since the proposal was issued last November.