Inside the First-Ever Open Hearing Field of Membership Expansion

Learn how CUCollaborate helped Dade County FCU grow their FOM by 1.95 million people.

Dade County Case Study cover.

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Download our case study on Dade County FCU's field of membership expansion via the open hearing process.

The Aim: Expand Field of Membership While Retaining Entire Current Community

Dade County FCU would regularly receive membership requests from neighboring Broward County, where many of its own members had moved over the years as the South Florida community grew and evolved.

However, due to chartering population regulations, to add Broward County to its FOM, the credit union would have to go through the NCUA's open hearing process, which had never before been attempted.

The Strategy: Narrative Field of Membership Application and Open Hearing

Step one: The submission of an application for expansion with a narrative justification to prove Miami-Dade and Broward counties shared sufficient common interest and interaction to support a common bond.

Step two: An open hearing before the NCUA's CURE office in which the credit union and any interested parties were invited to present information regarding the requested service area.

The Outcome: Expanding FOM by More Than 70%

Dade County FCU ultimately was approved to add Broward County to its service area, increasing its field of membership by 1.95 million people.