The NCUA announced on Thursday that credit unions applying to add an underserved area is now simpler.
The agency stated that, effective immediately, multiple common bond federal credit unions submitting underserved area applications can list the areas they want to serve by census tracts, along with the year the census tract was in effect.
The NCUA’s prior policy required multiple common bond federal credit unions to formally list each area’s street boundaries. The agency stated that itrecognizes technical advances that make it easier for credit unions to geocode addresses for potential members.
Individuals with questions can contact the Office of Credit Union Resources and Expansion at 703.518.1150 or firstname.lastname@example.org.