Chartering and Field of Membership-Shared Facility Requirements

Title:
Chartering and Field of Membership-Shared Facility Requirements
Subject: Service facility
Agency: NCUA
Status: Proposed rule
Summary:

The NCUA Board (Board) proposes to amend its chartering and field of membership (“FOM”) rules to modernize requirements related to service facilities for multiple common bond (“MCB”) federal credit unions (“FCUs”). The Board is proposing to include any shared branch, shared ATM, or shared electronic facility in the definition of “service facility” for an FCU that participates in a shared branching network. The FCU need not be an owner of the shared branch network for the shared branch or shared ATM to be a service facility. These changes would apply to the definition of service facility both for additions of select groups to MCB FCUs and for expansions into underserved areas.

FR Doc: 2020-28277
Date proposed: Dec. 17, 2020
Comments due date: Feb. 10, 2021
Effective date:

Rule compliance date:
Agency release:

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