WASHINGTON (9/15/14)--Groups looking to apply for a federal credit union charter have a new resource from the National Credit Union Administration.
The NCUA's Federal Credit Union Charter Application Guide offers step-by-step instructions to help potential credit union organizers get information on what the process entails, and what the NCUA expects in a charter application.
"This new guide is essentially a road map to success, explaining in detail how to complete the process," said NCUA Chair Debbie Matz. "It also helps organizers focus on key actions, from finding their niche in an increasingly complex and competitive marketplace and raising capital to preparing an effective application."
The guide breaks down the chartering process into five steps:
It also includes answers to frequently asked questions about the amount of time required to obtain a charter, the amount of start-up capital necessary and the availability of consulting services from NCUA's Office of Small Credit Union Initiatives.
Use the resource link below to access the complete guide.