Vice Chair Metsger Says CUs Would Benefit from FOM Changes
NCUA Vice Chair Rick Metsger believes that federal credit unions would benefit from having more flexibility in defining their fields of membership, such as giving FCUs converting to community charters the ability to retain SEGs outside of the community area and the ability for community-chartered credit unions to define their FOM in accordance with the law of the state in which they operate. Some recommendations would require amending the Federal Credit Union Act. [1/12/14]
