Organization and Operations of Federal Credit Unions

Zusammenfassung

The purpose of this interim Interpretive Ruling and Policy Statement is to permit federal credit unions to restructure their fields of membership consistent with the recent Court of Appeals decision (``the Decision'') and District Court order (``the Order'') limiting federal credit unions' ability to serve eligible credit union members and new select groups. NCUA recognizes that this interim policy will not provide complete relief to all multiple group federal credit unions, since any interim policy must meet the requirements set forth in the Decision and the Order. Similarly, this interim policy does not assist individuals who wish to obtain, but do not currently have, access to federal credit unions as a result of the Decision. This interim policy is intended to provide limited and temporary relief until the legal issues with respect to the Decision are finally resolved. NCUA is also issuing a final amendment to update its rules entitled ``Organization and Operations of Federal Credit Unions.''