|NCUA to propose new rule...?|
The rule does not apply to state-chartered credit unions, which draw their FOM authority from their home state. Here's the link to the proposed FOM rule - BTW let's hope the NCUA is not also proposing to start regulating bathroom fans with more than one speed! (check out the link to see my concern!)
|Britches getting a wee large?|
Know of no objections to the proposed changes to the FOM limitations for federally-chartered credit unions (other than by the American "Braying" Association - 'da ABA!), did find the following statistics of interest from the 6/30/2016 NCUA Call Report data (select June/2016... it's on page 17 "Misc. Info" - here's the link):
# of Federally-Chartered CUs: 3,679
# of Current FCU Members: 55,433,285
# of Potential FCU Members: 978,012,080
[under current rule] [978 million!]
% of Current Members to Potential 5.67%
3) 978 million potential members? Aren't there only 325 million citizens in the entire Country?
ACCOUNTABILITY - COMPETENCY - TRANSPARENCY
... outstanding in our "field"?