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Today is the Last Day to Submit Your FOM Letters to NCUA
Monday, February 8, 2016 7:00 AM

The comment period closes today, Feb. 8, regarding proposed modernizations of the National Credit Union Administration's field-of-membership (FOM) regulations, which set the rules determining who credit unions can have as members.

National and state bank trade associations are hot on the heels of the issue, sending hundreds of letters not only to the NCUA, but also to congressional leaders. 

Cornerstone Credit Union League and the Credit Union National Association strongly support the proposed improvements, along with the NCUA’s efforts to streamline the agency’s FOM processes. Therefore, all Cornerstone credit unions are strongly urged to do one or both of the following:

  • Send a form letter email to NCUA and their members of Congress through Voter Voice. This is the form letter sent for the purpose of increasing numbers. The form letter is a quick and easy way to make a numbers impact. Multiple employee letters from the same credit union are allowed and encouraged.
  • Send your unique letter from the CEO to make an even bigger impact. Credit unions are encouraged to use PowerComment to file comment letters with regulators.


Please refer to Cornerstone's Regulatory Grid Summary or CUNA's Comment Calls page for more details about this proposal and writing your comment letter. Don't forget to copy Suzanne Yashewski so the league can track participation.

If you need help crafting your own letters, or if you have questions, please contact Cornerstone Credit Union League SVP Regulatory Compliance Suzanne Yashewski at syashewski@cornerstoneleague.coop or 512-853-8516.