News Topic: Field of membership

The expansion will give the $416 million-asset institution a deeper reach into southern parts of the state. ... Read full article

A new initiative from the Minnesota Credit Union Network to help deepen share of wallet is believed to be the first of its kind and could be a model for credit union leagues in other states. ... Read full article

Regulators have approved the Colorado institution's bid to serve consumers across three different counties. ... Read full article

Having already changed charters for a statewide field of membership, the Jackson, Mich.-based institution will now merge with Washtenaw Federal Credit Union. ... Read full article

It's unlikely that lawmakers will pass new coronavirus-related legislation before Congress leaves for its October recess. ... Read full article

Federal credit unions still account for more than 60% of active institutions, but their share of total assets continues to shrink. ... Read full article

The Vermont-based credit union received the OK from federal regulators to add 650,000 potential members to its FOM, an increase of 15%. ... Read full article

Institutions serving colleges and universities traditionally see membership surge in the fall, but are now planning for a decline as classes move online. ... Read full article

Keith Leggett, a former economist at the American Bankers Association, has overseen Credit Union Watch since 2009. ... Read full article

Jim Nussle, CEO of the Credit Union National Association, recently argued that Congress should do away entirely with FOM requirements. Such a move would further favor credit unions over banks. ... Read full article

The court's decision not to consider an appeal from the American Bankers Association is likely to be the last step in a legal saga dating back to 2016. ... Read full article

The agency has responded to the American Bankers Association's legal request to strike down expanded membership rules for credit unions. ... Read full article

An appeals court on Thursday denied bank groups an en banc hearing from all 11 appellate judges, but bankers said Friday that they're considering turning to the Supreme Court. ... Read full article

More than 50 banks and banking groups responded to the National Credit Union Administration's call for public comment as it attempts to explain why a new field of membership provision won't permit redlining. ... Read full article

The National Credit Union Administration has unveiled a proposal to address a federal judge's concerns that its 2016 field-of-membership overhaul could discourage lending in low-income areas. ... Read full article

The group's Wake Up initiative will include legislative and regulatory proposals, along with added resources to help members push for a level playing field. ... Read full article

The banking trade group is asking for an en banc rehearing of its field-of-membership challenge before all 17 judges of the D.C. Court of Appeals. ... Read full article

Banks are expected to appeal last week’s field of membership ruling, but credit unions must also explain why part of their new rule doesn't discriminate. ... Read full article