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About
Created by the U.S. Congress in 1970, the National Credit Union Administration is an independent federal agency that insures deposits at federally insured credit unions, protects the members who own credit unions, and charters and regulates federal credit unions.
Regulation & Supervision
Regulation & Supervision
The NCUA protects the safety and soundness of the credit union system by identifying, monitoring and reducing risks to the National Credit Union Share Insurance Fund. Backed by the full faith and credit of the United States, the Share Insurance Fund provides up to $250,000 of federal share insurance to millions of account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions.
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Analysis
The NCUA’s economists and analysts compile data on the credit union system’s financial performance, merger activity, changes in credit union chartering and fields of membership, as well as broader economic trends affecting credit unions. Users can find information on a single credit union or analyze broader nation-wide trends.
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Support Services
The NCUA provides a number of support services to the credit union system, such as providing training, grants and loans, chartering, and field-of-membership services; maintaining the health and stability of Share Insurance Fund; managing the assets of failed credit unions; and providing emergency liquidity.
Consumers
Consumers
The NCUA works to protect credit union members and consumers, raise awareness of potential frauds, facilitate access to affordable financial services, and educate consumers on the importance of savings and how they can improve their financial well-being.
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Cybersecurity Resources
Cybersecurity Resources
Cyberattacks and cybersecurity vulnerabilities pose significant risks to the financial system. Because of vulnerabilities within the credit union industry and the broader financial system to potential cyberattacks, cybersecurity is one of the NCUA’s top supervisory priorities and a top-tier risk under the agency’s enterprise risk-management program.

Immediate Family Members in Field of Membership

95-0731 / August 1995

Immediate Family Members in Field of Membership

Subject

Chartering/Field of Membership

Historic Status

Non-historic

August 9, 1995

Ms. Colette L. Mooney
Deputy Superintendent
Bureau of Banking
36 State House Station
Augusta, Maine 04333-0036

Re: Field of Membership (Your July 20, 1995, Letter)

Dear Ms. Mooney:

You requested an opinion on whether the immediate family members of a potential federal credit union (FCU) member can join the FCU. As discussed in the enclosed letter dated February 2, 1995, from me to Ms. Sue A. Eckenrode, President, Vigo County FCU, the immediate family members of a potential member may join the FCU if the FCU's charter includes (members of their immediate family) language from Article II, Section 5 of the Standard Federal Credit Union Bylaws which allows the immediate family of an individual who is within the FCU's field of membership to join the FCU.

I hope that we have been of assistance.

Sincerely,

Richard S. Schulman
Associate General Counsel

GC/JSM:bhs
SSIC 3700
95-0731
Enclosure

Last modified on

11/14/24