A credit union requesting a charter for a sparsely populated area must show how it will serve the area. It is often difficult to demonstrate the ability to serve without a physical presence throughout the area unless there are unique local factors, such as residents traveling long distances to a central trade area within your service area.
Rural District, online banking, mobile banking, branch, building, build, physical presence, unique factors, travel long distance, long distance, trade area, population center, community
Can you address how, if at all, the ability of a credit union to use online or mobile banking services to serve a membership area? Specifically looking for insight to rural areas for which building a branch may not make sense.
Last updated on 02/12/19