WASHINGTON, Aug. 6 -- National Credit Union Administration has issued a rule called: Chartering and Field of Membership for Federal Credit Unions-Interpretive Ruling and Policy Statement 08-2.
The rule was published in the Federal Register on Aug. 6 by Melane Conyers-Ausbrooks, Secretary of the Board.
Summary: The NCUA Board (Board) is rescinding Interpretive Ruling and Policy Statement (IRPS) 08-2. The Chartering and Field of Membership Manual (Chartering Manual) incorporates the current requirements for adding underserved areas, making IRPS 08-2 unnecessary. This rescission reduces the burden for federal credit unions (FCUs) by limiting the number of sources that FCUs must check to verify compliance with applicable requirements. After c...