Designing the Credit Union

Start here! Your decision to choose a State or Federal charter type dictates the starting point and navigation through the requirements specific to that type. Regardless of the charter type, all credit unions must insure their deposits. The predominant insuring agency for credit unions is the National Credit Union Administration (NCUA) for share insurance. The following links will assist you in taking first steps toward your chartered credit union. The NCUA website is a resource powerhouse for answers about application for field of membership, assistance on completing required paperwork, development of business plans, and opportunities for grants to fund your start-up costs.

See more information on field of membership applications.

While the NCUA is an authority on emerging credit unions, most States have trade organizations called credit union leagues. These organizations are non-profit organizations comprised of credit unions in your state or region. Many of these leagues also offer assistance programs to assist in the chartering process. Use a search engine such as Google, Bing, or Ask.com to search for a credit union league in your state.

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This post was written by Tony Muka