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NAFCU is asking members for their input by June 26 on NCUA's current review of one-third of its regulations, particularly its field-of-membership rules.

NCUA reviews one-third of its regulations each year for any needed changes or improvements; the agency reviews all its rules every three years. In addition to FOM, the agency this year is also reviewing its rules on federal credit union bylaws, member loans and lines of credit, low-income status designation, investment and deposit activities, and mergers.

NAFCU will use its members' input in formulating its comment letter to NCUA. NCUA is accepting comments until Aug. 3.

NAFCU staff recently met with NCUA Vice Chairman Rick Metsger's senior policy advisor to discuss the associations concerns about field-of-membership rules. NAFCU's FOM Task Force has produced several recommendations for the agency, including the removal of non-statutory requirements imposing geographic limitations on FOM chartering and expansion, updates to the Chartering and FOM Manual, and removal of the arbitrary 2.5 million population cap for "well-defined local communities."