NCUA: Field of Membership - Rural Districts

REQUIRED INFORMATION FOR CREDIT UNION BOARD CHAIRMEN AND MANAGEMENT

Letter to Credit Unions (20-CU-21) Field of Membership - Rural Districts Dear Boards of Directors and Chief Executive Officers: On June 29, 2020, the Supreme Court denied the American Bankers Association’s petition to review the D.C. Circuit Court of Appeal’s decision on the NCUA’s field of membership rules. This ends nearly four years of uncertainty and helps the NCUA foster greater financial inclusion for all Americans. The lack of financial access is especially prevalent in rural communities, which have experienced the withdrawal of financial institutions over the last decade. The Supreme Court’s decision will assist the agency’s efforts to bring these important and often overlooked communities back into the financial mainstream. Read the Letter to Credit Unions