NCUA Letter: Update on Community Charter Conversions and Expansions

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The National Credit Union Administration (NCUA) has provided updated guidance and templates to assist federal credit unions seeking to convert to a community field of membership or expand their existing community field of membership. This letter replaces the guidance previously provided in NCUA Letter to Federal Credit Unions 11-FCU-03, Community Charter Conversions and Expansions.

Since 11-FCU-03 was issued, the NCUA board approved several revisions to the Chartering and Field of Membership Manual to provide more flexibility to federal credit unions, including a streamlined business plan for use when applying to expand services to an area that borders a community that is currently served by a credit union.

Click here to read the letter to federal credit unions. 

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