(a)  Based on experience, established policy and standards, the Administrator shall determine if the breadth and strength of the proposed field of membership is too broad or too weak to effectively operate as a credit union.

(b)  Established minimum potential membership guidelines for chartering credit unions in each of the various types of groups are as follows:


TYPE OF GROUPS                                                                                                             MINIMUM



Occupational or Employer                                                                                                       300    Employees


Associational                                                                                                                               500    Members


Residential or Community                                                                                                    1,000    Members


Multiple Occupational or Combination  of Groups                                                             500    Members



Notwithstanding the minimum potential membership numbers, the makeup of the membership group and the level or support is a key indicator for the degree of potential success.  Further, determination of the economic advisability of chartering a credit union is based upon such other things as level of group interest, leadership, willingness of management to become involved, local economic factors, and availability of other credit union service.

A group which is close to the minimum and has exceptional prospects for successful credit union operation may be considered for a state credit union charter.


History Note:        Authority G.S. 54‑109.2; 54‑109.3(3); 54‑109.11(3); 54‑109.12; 54‑109.21(25); 54‑109.26(b);

Eff. February 1, 1976;

Readopted Eff. April 4, 1978;

Amended Eff. October 1, 1983.