Field of Membership - What You Need to Know

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## Guest: Rick Mumm
Former NCUA employee with over 34 years of experience, including 25+ years working in CURE (Credit Union Resources and Expansion) and its predecessor offices.

## Topics Discussed:

1. Field of Membership (FOM) Overview
   - Types of FOMs: new charters, adding groups, community, underserved areas, TIPs
   - Centralization of FOM at NCUA in 2010

2. Trade, Industry, and Profession (TIP) Credit Unions
   - Challenges in defining and approving TIPs
   - Limitations of TIPs (occupational only, not associational)

3. Underserved Areas
   - Popular FOM addition for multiple common bond credit unions
   - Distinction between underserved areas and low-income designations

4. Low-Income Designations
   - NCUA designation process
   - Benefits: no limit on business loans, more non-member deposits, access to grants/loans
   - Secondary capital opportunities

5. Merger Packages
   - Process for merging credit unions
   - Field of membership compatibility issues
   - Emergency mergers

6. Bylaws
   - Standard vs. non-standard bylaws
   - Rick's involvement in writing the 2020 version of NCUA bylaws

7. Other Services
   - New charters
   - Share insurance questions and training

## Key Takeaways:

- Rick's extensive experience offers unique insights into NCUA's internal processes
- His knowledge can help credit unions create efficient, approvable packages
- Understanding the nuances of different FOM types is crucial for credit unions

## Contact Information:
- Rick Mumm: info@rcuservices.com
- Mark Treichel: cuexamsolutions@marktreichel.com
- Website: www.marktreichel.com

## Notable Quotes:

"I've seen, kind of grew up with field of membership from when, you know, as an analyst, I process groups, whereas now, you know, groups are processed online."

"I know what CURE is looking for, what holds things up, what doesn't, and can be able to say, 'Hey, you know, you can do that, but you're going to add another two, three months onto the package, or we can do this and it'll get approved a lot faster.'"