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Vol. 80 Thursday, No. 237 December 10, 2015, Part II National Credit Union Administration Horne on DSK5TPTVN1PROD with PROPOSALS2 12 CFR Part 701 Chartering and Field of Membership Manual; Proposed

How to fill out proposed field of membership

How to fill out proposed field of membership?

1. Identify the purpose: Determine the objective or reason for proposing a new field of membership. This could be expanding the organization's reach, targeting a specific demographic, or meeting regulatory requirements.
2. Research requirements: Familiarize yourself with the guidelines, regulations, and criteria set forth by the governing body or organization responsible for approving the proposed field of membership. Different organizations may have specific criteria to be met.
3. Gather necessary information: Collect all relevant data and information required for the proposed field of membership. This could include demographic data, market analysis, financial projections, and any other supporting documents that demonstrate the viability and potential success of the proposed field.
4. Develop a comprehensive proposal: Prepare a well-organized and detailed proposal that outlines the purpose, objectives, and benefits of the proposed field of membership. Include relevant data and statistics, provide a clear plan of action, and address any potential concerns or challenges that may arise.
5. Present the proposal: Deliver the proposal to the appropriate governing body or organization responsible for approving the proposed field of membership. Ensure that all required documents and supporting materials are submitted along with the proposal.
6. Address questions or concerns: Be prepared to address any questions or concerns raised by the reviewing body. Clearly articulate the benefits and potential impact of the proposed field of membership and provide any additional information or clarification as requested.
7. Follow up: After presenting the proposal, follow up with the reviewing body to inquire about the status of the application and to provide any additional information or documentation if needed.
8. Monitor and adapt: Once the proposed field of membership is approved, regularly monitor its progress and performance. Adjust strategies and plans as necessary to ensure the success and effectiveness of the expanded membership.

Who needs proposed field of membership?

1. Credit unions: Credit unions often need to propose new field of membership to expand their member base and serve a wider community or meet regulatory requirements.
2. Non-profit organizations: Non-profit organizations may require a proposed field of membership to reach a specific target audience, expand their reach, or meet funding or grant eligibility criteria.
3. Professional organizations: Professional organizations may need to propose a new field of membership to include new professions or industries within their membership base, ensuring representation and relevance to their members.
4. Trade unions: Trade unions may propose a new field of membership to include workers from additional sectors or industries, broadening their influence and collective bargaining power.
5. Associations: Associations may need a proposed field of membership to broaden their member base, increase participation, and strengthen their advocacy efforts.
6. Restricted access groups: Restricted access groups such as clubs or private organizations may propose a new field of membership to diversify their membership or adapt to changing social, economic, or cultural landscapes.

For pdfFiller’s FAQs

What is proposed field of membership?

Proposed field of membership refers to the specific group of individuals or organizations that a credit union wishes to serve.

Who is required to file proposed field of membership?

Credit unions are required to file proposed field of membership with the appropriate regulatory authorities.

How to fill out proposed field of membership?

Proposed field of membership can be filled out by providing detailed information about the target group, including demographics, geographic location, and common bond.

What is the purpose of proposed field of membership?

The purpose of proposed field of membership is to define and establish the target market that a credit union will serve.

What information must be reported on proposed field of membership?

Information such as the reason for selecting the target group, potential membership numbers, and impact on the credit union's operations must be reported on proposed field of membership.

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