BIRMINGHAM, Ala.–Dollar Associates will host a new webinar today titled “NCUA’s New Field of Membership Service Rule: What Opportunities Does it Provide for My Credit Union?”
The webinar is scheduled for 3-4 E.T.
“In November 2021 the NCUA board unanimously approved a final rule that revises the definition of a service facility for federal credit unions contained in the NCUA’s Chartering and Field of Membership Manual,” Dollar Associates said. “Many states are following suit with their state-chartered credit unions. This was welcomed news by the credit union industry because, regardless of charter type, FOM policy still matters for every credit union in America that wants to grow. After all, new income requires new loans which require new accounts which require new members which require more eligible members which require more field of membership opportunity.”
According to Dollar Associates, the “daisy chain” of credit union financial success begins with field of membership, and expansion opportunities could potentially be more abundant due to the change in the service facility definition.
The webinar will be led by former NCUA Chairman and Dollar Associates Principal Dennis Dollar and former NCUA Chief of Staff Kirk Cuevas who “will walk attendees through the practical implications of the new service facility rule and how it impacts the expansion options available to credit unions in the current environment.”
For info, go here.