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Rules & Regulations

Section 1.        Organization Of A State Chartered Credit Union

Field Of Membership Expansion

Any credit union may apply to include employee or association groups in its field of membership provided that the Administrator of the Alabama Credit Union Administration ascertains that the number of employees or association members is within the regulation, and the group is located in a well-defined area near the credit union's main office or branch as defined in this regulation. The credit union must also have amended its bylaws to allow including such groups in its field of membership. Approval will not be granted if the group is being served by another state or federal credit union. Unless the application for chartering contains a letter from the other credit union stating that it has no objection to dual membership or it is shown that the other credit union is not providing satisfactory service. If the other credit union is a federal credit union, the Administrator will contact the NCUA Regional Director for comment prior to approving dual membership unless it is deemed that no adverse effects will result from the dual membership.

When requesting field of membership expansion, the credit union is to submit the following information:

(1)     Name of the group to be added.

(2)     A description of what constitutes membership in the group.

(3)     Location of the group’s employer or association including.

(a)     Physical location and mailing address.

(b)     County in which the group is located.

 (4)     Location of the credit union office or branch from which the group will be served.

 (5)     The number of employees or association members within the group.

 (6)     A letter from a person with authority to represent the group, requesting services from the credit union, also stating whether the group is being served by another Alabama credit union and if so, the name of said credit union. The letter is to be written on the group's letterhead stationery. The person signing the letter is to identify himself or herself by title and state that he or she has authority to represent the company or association.

 (7)     A statement concerning the availability of payroll deduction privileges.

 (8)     If the group is being served by another credit union, a letter from an authorized representative of that credit union stating that it does not object to dual membership.

 Note: Forms are available from the ACUA office.

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