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NCUA Board to Consider Shared Facility Rule at Nov. 18 Meeting

Authored By: Lewis Wood on 11/16/2021

The NCUA board will hear a briefing on modernized examination tools and the agency’s COVID-19 response at the Board meeting this Thursday, Nov. 18. The meeting will be streamed live on NCUA.gov starting 10 a.m. ET.

The board will also vote on the field-of-membership shared facility final rule. CUNA and your League support the shared facility rule as proposed, which would amend the chartering and field-of-membership rules to modernize requirements related to service facilities for multiple-common-bond federal credit unions.

The Board is proposing to include any shared branch, shared ATM, or shared electronic facility in the definition of “service facility” for an FCU that participates in a shared branching network. The FCU need not be an owner of the shared branch network for the shared branch or shared ATM to be a service facility. These changes would apply to the definition of service facility both for additions of select groups to MCB FCUs and for expansions into underserved areas.

Credit union-owned branches, mobile branches, offices operated on a regularly scheduled weekly basis, and video teller machines also meet the criteria for service facilities.

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