On-Site Coverage: NCUA Upholds Rejection of Tri-State FCU FOM Expansion
ALEXANDRIA, Va.--With little discussion and by a unanimous vote, the NCUA Board today upheld the denial of Tri-State FCU's application to add a YMCA to its field of membership.
Attorney Sheila Albin recommended that the board uphold the decision by Region II to reject the request because the Midland, Pa., credit union failed to prove that the YMCA in East Liverpool, Ohio, met the common bond requirements spelled out in the agency's Chartering and Field of Membership Manual.
Albin said that the agency's regional officials had concluded that the nature of the association of the YMCA to its members is primarily a customer-client relationship, which is not allowed under agency rules. She noted that the agency had allowed the credit union's field of membership to be expanded to include the employees of the YMCA.