FOM Expansion - Grow Your Credit Union
Making the most of expansion opportunities in 2018
Oak Tree recently had an article featured in the Credit Union Journal magazine – Opinion Section. The article highlights recent changes to field of membership rules.
Check out a snippet of the article:
Core area service requirements
Various changes were made to core area service requirements – most notably, allowing credit unions to focus service to a portion of a statistical core without the perhaps overwhelming obligation to serve a much greater core area, thereby creating opportunities for more organic growth consistent with each credit union’s charter. According to the NCUA, the rule also allows for segmenting population of a core area without regard to the 2.5 million cap. Credit unions can now serve combined statistical areas so long as they stay under the 2.5 million-population cap, and may also apply to serve adjacent areas, provided narrative submission requirements are met.
To read the full article on the CU Journal website, click here.
At Oak Tree Business Systems, Inc. we provide compliant forms and disclosures to credit unions, as well as other products and services. For a complete rundown of everything we have to offer, check out our products and services page.
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