ALEXANDRIA, Va.—A proposal to reform field of membership requirements is on NCUA’s Nov. 19 open board meeting agenda.
NAFCU and CUNA have stated that field of membership reform is a key concern as the current system is cumbersome and restricts growth.
“We thank the NCUA board members for their leadership in reexamining field-of-membership restrictions,” said NAFCU President and CEO Dan Berger in a statement following the agency’s release of next week’s agenda. “NAFCU continues to support field-of-membership reform and the removal of unnecessary restrictions. We look forward to reviewing the board’s proposal.”
In July, NCUA Chairman Debbie Matz said the agency would propose additional changes to its FOM rules to permit more expansive community charters, underserved areas and occupational charters. NAFCU sent the agency a white paper with recommendations for eased FOM rules in May.
The open board meeting agenda also includes action on the agency's 2016/2017 operating budget and Temporary Corporate Credit Union Stabilization Fund oversight budget; 2016 overhead transfer rate; 2016 federal credit union operating fee scale; 2016/2017 NCUA annual performance plan; and the TCCUSF quarterly report.
During the Nov. 19 meeting, NCUA is also expected to announce any expectations regarding a 2015 NCUSIF premium or TCCUSF assessment on credit unions. NCUA has maintained it expects no additional stabilization fund assessments will be needed based on current performance expectations.