WASHINGTON (2/9/16)--Credit union stakeholders used Credit Union National Association (CUNA) tools to submit thousands of comments to the National Credit Union Administration (NCUA) on its field-of-membership (FOM) proposal. Using both PowerComment and VoterVoice, CUNA and state leagues helped combat bank attacks on the proposal to demonstrate the ways that increased access to credit unions can benefit consumers.
The 90-day comment period for the proposal closed Monday, and as of Monday morning, at least 5,000 comments had been posted by the NCUA on its website.
PowerComment, a collaboration between CUNA and the California and Nevada Credit Union Leagues, showed the FOM proposal (as well as other pending proposals with comments due) in an easy-to-read format, allowing stakeholders to read the summary of the proposal, dive deeper into the proposed rule itself and refer to other CUNA resources examining the proposal.
Once all the information is read, commenters can read several of the comments that have already been submitted for reference and compose their own comment letter.
PowerComment allowed users to explain how each provision within the proposed rule would help the credit union better serve consumers, summarize their position and submit it directly to the NCUA with a few clicks.
CUNA’s VoterVoice action letter allowed stakeholders to express their support for the FOM proposal, pointing out how the proposal modernizes federally chartered credit unions by granting them the flexibility contained in many state charters.
VoterVoice allowed commenters to send the comment to the NCUA, and send a copy to the writer’s local representative and senators from their state.