ALEXANDRIA, Va.—NCUA has launched the first phase of a new streamlined online charter application system, marking what Chairman Kyle Hauptman said is a key step toward making it easier to form new credit unions.
“Chartering remains one of my highest priorities,” NCUA Chairman Kyle S. Hauptman said. “Streamlining and systematizing the chartering process, as well as reducing unnecessary requirements, represents meaningful progress in easing the burden on organizers who want to establish a new credit union. Anyone who seeks to form a credit union should have a fair and accessible opportunity to do so.”
In December 2024, the NCUA board approved $2 million to develop the online chartering system. Work continues on streamlining charter applications, and NCUA expects to release a fully automated system for processing charter applications in 2027.