Home > Credit Union Philosophy > Why are credit unions are expanding their fields of membership?

Question: Why are credit unions are expanding their fields of membership?

Answer: The original intent of credit union law in the U.S. did not limit fields of membership. Community charters were rather common. Due to the growing number of credit unions, identifying a specific membership group made it easier to distinguish membership areas, thereby eliminating confusion of a credit union’s intended area.

Credit unions began expanding their fields of membership to serve groups who didn’t have the means or numbers to establish their own credit unions. Diversification of the membership also provides additional safety during economic downturns. If one group is experiencing hard times, the other groups can help sustain the credit union.

About Us

Network Governance
Full Staff Listing
Credit Union Chapters

Contact Us

Credit Union Jobs

Compliance

InfoSight
CU PolicyPro
Fraud Resource Center
Compliance Training Tools

 

Advocacy &
Government Relations

Advocacy
     National Programs
     State Programs

Government Relations
     Montana Government
     Federal Government Affairs

Political Action

(MCUCD)
Community Development 

Education

Conferences and Trainings
Distance Learning
Financial Literacy for Volunteers

Economics

League Service Group

Directly Provided Services
Group Benefit Trust

Communications & PR

Credit Unions in the News
President's Report
Photo Galleries
Network News
News Archive

Credit Union Directors

The Director's Job
Volunteer Recognition
Helpful Resources
The Blog "A Direct Line"

Consumers

Find a Credit Union Near You
T
ip of the Week
Topic of the Month
Reciprocal Check Cashing

Montana's Credit Unions

Credit Unions in the News
Credit Unions for Kids
Credit Union Philosophy