League advocates for FOM updates

Published by: Sean Brown

June 14, 2023 | Regulatory

The People Helping People philosophy can only flourish when your credit union is able to do just that: help people. Credit unions’ ability to grow, thrive, and deepen their impact on the communities they serve is restricted to the pace of field of membership regulatory growth. That is why the League took the opportunity to submit on the National Credit Union Administration’s (NCUA’s) notice of proposed rulemaking to amend its chartering and field of membership rules. While the League supported the NCUA’s moves to eliminate inefficiencies and make common sense updates, the League recommended additional updates were necessary to bring field of membership into the 21st century. Namely, the League argued that including remote employees as a fifth affinity group is crucial given the current and increasing remote work posture of today’s workforce. Be on the lookout for more information or opportunities to get involved, as this rule progresses through the regulatory process.

Contact Sean Brown for questions or assistance.

Sean Brown
Sean Brown Director, Regulatory Affairs E: sbrown@ohiocul.org
Contact Us

Other Movement News

Government Affairs

League advocates for “clean” NDAA funding bill

In a gridlocked Congress, must-pass federal spending bills open an opportunity to accomplish policy initiatives that can either promote or inhibit credit unions from serving their members. That’s why the […]
Regulatory

Ohio shows united opposition to debit interchange rule

Cards, compliance, and cybersecurity all have a cost, and that is why the League submitted a comment letter expressing serious concern and vehement opposition to the Federal Reserve’s proposal to […]
Member Benefits

Trending on Huddle: Are you a part of the discussion?

Connecting and collaborating are part of what makes the Credit Union Movement unique to financial services and continue to be a cornerstone of its collective success. The League’s online community, […]