NCUA released its new Charter Application Guide and other resources today to assist people who want to bring federally insured financial services to their communities by starting a federal credit union.
“Along with increasing access to safe, fair, and affordable financial products and services for credit union members, there is a real need to make the process for starting a new credit union less daunting,” NCUA Chairman Todd Harper said. “Organizing a new credit union takes time, resources, and commitment. A clear, step-by-step roadmap for applying for a federal charter helps organizers lay a foundation for success.”
Harper added, “My thanks go out to the NCUA team members for their excellent work on the new charter guide, to Board Member Hood for getting the ball rolling through the ACCESS Initiative, and to Vice Chairman Hauptman for his steadfast focus on new charters.”
The new guide was developed as part of the NCUA’s Advancing Communities through Credit, Education, Stability, and Support (ACCESS) Initiative.
Launched in 2020, this initiative fosters greater economic equity and justice through the modernization of regulations, policies, and programs that support financial inclusion within the NCUA and, more broadly, throughout the credit union system. A key component of ACCESS is supporting the development of new credit unions.
Organizers Interested in Starting a New Federal Credit Union Should Register for Webinar
Groups interested in organizing new credit unions can learn more about the process and requirements by participating in a webinar on Wednesday, May 4, at 2 p.m. Eastern.
Online registration for “New Charter Applications,” is now open.
Staff from the NCUA’s Office of Credit Union Resources and Expansion will explain the charter process and discuss the new guide and other resources.
This webinar is available at no cost and will run approximately 60 minutes.