Federal Register #2026-06757

NCUA Proposed Rule Change for Chartering and Field of Membership

This notice announces a proposed regulatory change by the National Credit Union Administration (NCUA) Board regarding credit union chartering and field of membership (FOM) rules. - Government Buyer: - National Credit Union Administration (NCUA) - No sub-agency or office procurement activity; this is a regulatory notice - OEMs and Vendors: - No Original Equipment Manufacturers (OEMs) or vendors are mentioned - Products/Services Requested: - No products or services are being procured - No part numbers or quantities are listed - Unique or Notable Requirements: - The proposed rule clarifies that requiring the purchase of a product or service as a condition of membership will not automatically disqualify an association from eligibility under the Federal Credit Union Act - NCUA will evaluate the totality of circumstances to determine if a client-customer relationship is incidental to the association's activities - This change is intended to provide regulatory relief and flexibility for credit unions seeking to expand their membership criteria - No procurement action, contract, or purchase is associated with this notice

Description

The National Credit Union Administration (NCUA) Board proposes to amend the associational common bond provisions of its chartering and field of membership (FOM) rules. The amendment clarifies that requiring the purchase of a product or service as a condition of membership no longer automatically disqualifies an association from eligibility. Instead, the NCUA will evaluate the totality of circumstances to determine if the client-customer relationship is incidental to the group's activities. Comments on the proposed rule must be received by June 8, 2026.

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