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Matz Wants Streamlined Community FOM Approvals
Monday, September 21, 2015 6:40 AM

National Credit Union Administration Chair Debbie Matz announced Thursday that she will seek to streamline the agency’s community charter process. Matz addressed the matter during the board's monthly meeting.

“The Office of Consumer Protection will decide on expansion requests, and if a request is denied, the credit union can appeal to the board,” Matz said, adding that she expected this action could reduce the application process by as much as two months.

The change would affect federal credit unions serving communities with more than one million residents. Those credit unions must currently receive approval from the NCUA board for an expansion.

CUNA’s Federal Credit Union subcommittee, along with CUNA staff, will be meeting with Matz, Vice Chair Rick Metsger, and other NCUA staff Sept. 30 to discuss CUNA’s field of membership recommendations, and to advocate for changes to field of membership regulations.