ALEXANDRIA, Va. — The NCUA Board approved a proposal at today'smeeting to clarify the agency's expectations for community charterapplications.
The proposed rule would retain the single political jurisdictiondefinition but change up some others.
NCUA has proposed a new Core Based Statistical Area requirementbased on definitions borrowed from the Office of Management andBudget. NCUA would further restrict this type of local community byrequiring it to not include a Metropolitan Division–an area withina CBSA with a core population of at least 2.5 million–but requiringthe core to hold the majority of the jobs in the area plusone-third of the population.
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