NCUA will review and assess the credit union's business plan as a whole and its intent and ability to effectively serve the community with the current and planned branch structured outlined in the business plan. There is no requirement that you have a specific number of branches or service facilities in order to the serve a rural district. See the guidance outlined in NCUA Letter to Federal Credit Unions 11-FCU-03, available at: https://www.ncua.gov/regulation-supervision/Pages/policy-compliance/communications/letters-to-federal-credit-unions/2011/03.aspx.
Rural District, branches, ability to serve, intent, business plan, marketing plan, service facility, NCUA Letter to credit unions, 11-FCU-03, community
What do you need to demonstrate ability to serve a rural district? Do you require branches?
Last updated on 02/12/19