WASHINGTON — Even though a judge ruled that the NCUA's decision-making process in a key field of membership case was flawed, the three Harrisburg, Pa.-area credit unions could be allowed to keep their new members.
That would be the result if the judge approves a remedy that the NCUA agreed to last week with the American Bankers Association, which sued the agency over the decision.
Members 1st Federal Credit Union, AmeriChoice Federal Credit Union and New Cumberland Federal Credit Union would not be allowed to recruit additional members in their expanded fields of membership while the case is still being decided. But they could enroll spouses and other family members of those made eligible by the NCUA's disputed decision. The agency's decision involved an application by Members 1st for a community charter, and the two other credit unions subsequently were granted the same FOM.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
