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NCUA Plans to Issue Additional Guidance on New Rule in the Coming Months

ALEXANDRIA, Va. (March 23, 2017) – Credit union stakeholders wanting more information about the National Credit Union Administration’s new field-of-membership rule can now watch the agency’s webinar online (opens new window) and review questions and answers (opens new window) from the event.

NCUA expects to have new guidance, including examples and resources for credit unions to use to help them prepare requests to expand their fields of membership, available by May.

Topics covered by the new guidance will include:

• Community charters;
• Rural districts;
• Multiple common-bond expansions, including underserved areas, office or industrial park tenants, and select employee group contracts;
• Trade, industry, or profession groups; and
• Credit unions serving a branch of the United States armed forces.

The NCUA Board unanimously approved the new field-of-membership rule at its October 2016 open meeting. The Board also approved releasing for public comment a proposed rule that would make further changes, and comments received by the agency are currently under staff review.