NCUA's FOM Amendment Brings FCU a Plethora of Benefits, but There's Always More Work to be Done on Fed Charter

All indications are that the NCUA Board will take up a final rule this week amending the agency’s chartering and field of membership manual. At NAFCU’s Annual Conference in Seattle this past summer, NCUA Chairman Dennis Dollar laid out a timetable for adopting a final rule that he and the board have followed like Swiss timekeepers. The final rule will represent a collective victory for the credit union community, NCUA, congressional supporters and for America’s consumers – providing them greater access to credit union services. The board will also likely approve a final rule in keeping with the goals Chairman Dollar articulated last summer, namely that it: *

be within the letter and the spirit of the Credit Union Membership Access Act (CUMAA), *