ST. LOUIS — The Missouri Credit Union Association has releasedits comments on the proposed amendment to the field of membershiprule developed in response to a March 24th ruling by the ColeCounty Circuit Court that struck down the Missouri FOM regulationin its entirety.

In her Aug. 4th comment letter on the proposed rule to SandraBranson, director, Missouri Division of Credit Unions, Holub askedthe division “to be cautious in finalizing this proposed amendedrule and carefully test the language of each section to mitigaterisk of further litigation. Over the past five years of litigation,we have experienced the result of ambiguous legislativelanguage.”

To emphasize her point of the need for “careful lingualscrutiny,” the MCUA president cited Missouri's credit union lawpassed in 1998 that indicates “credit unions can expand by addinggroups of employees (known as select employee groups or SEGs),organizations or associations. Or, a credit union can expand byadding a geographic area.”