A proposed membership field expansion adding two counties to the area served by Dade County Federal Credit Union, Sweetwater, Fla., is the subject of a virtual public hearing slated Sept. 23 by the National Credit Union Administration (NCUA).
The credit union, according to a Federal Register notice Monday, is seeking to add Palm Beach County and Monroe County to its field of membership, which was just expanded last year to include Broward County (it already served Miami-Dade County). The expansion would give the credit union an FOM including nearly 6.3 million people, as estimated in Monday’s notice. That would add roughly 2 million persons to the credit union’s membership field.
Dade County FCU currently has 107,070 members and $1.4 billion in assets, according to March call report data.
The FOM for the credit union, as defined by the NCUA, now includes persons “who live, work, worship, attend school, participate in programs to alleviate poverty or distress, or participate in associations headquartered in; and businesses and other legal entities, incorporated and unincorporated organizations located in, or maintaining a facility located in Broward or Miami-Dade County, Florida,” according to Monday’s Federal Register notice.
The Sept. 23 hearing is set for 1 p.m. Eastern. The notice says interested parties seeking to make presentations during the hearing must register by Aug. 26 to be placed on a list of presenters. The applicant along with no more than seven other interested parties may request to make presentations. The first six interested parties that contact the NCUA in writing will be permitted to make such presentations.
The agency said members of the public seeking to watch or listen to the virtual meeting must register to view the public hearing. Written comments must be submitted by Aug. 26.