Video: NCUA FOM Rules Posted by Association of Vermont Credit Unions on 11:04 AM

NCUA's new rule on field of membership (FOM) was covered by the agency in a recent webinar. If you missed it, you can wat
ch the presentation online, including questions and answers from the event. In May, NCUA expects to provide new guidance that includes examples and resources for credit unions to use to help prepare FOM expansion requests. Topics covered by the video recording include:

• Community charters
• Rural districts
• Multiple common-bond expansions, including underserved areas, office or industrial park tenants, and select employee group contracts.
• Trade, industry, or profession groups. 
• Credit unions serving a branch of the United States armed forces.

The NCUA board unanimously approved the new FOM rule at its October 2016 open meeting. The board also approved releasing for public comment a proposed rule that would make further changes, and comments received by the agency are currently under staff review.

The webinar recording is available online for viewing.