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IS 1120 (09/19) Department of Insurance and Financial Services Page 1 of 3Application for Changes to the Field of Membership Changes in a credit unions field of membership are subject to the requirements

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How to fill out chartering field of membership

01

Gather necessary information about the organization or group you are chartering.

02

Determine the eligibility criteria for membership in the organization.

03

Clearly outline the purpose and goals of the organization.

04

Establish a process for admitting new members and defining their rights and responsibilities.

05

Specify the procedures for revoking membership if necessary.

06

Submit the completed chartering field of membership form to the appropriate governing body for approval.

Who needs chartering field of membership?

01

Organizations or groups looking to establish a formal structure for membership.

02

Credit unions or financial institutions seeking to define their customer base.

03

Any entity requiring a clear delineation of who can join or participate in their organization.

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What is chartering field of membership?

Chartering field of membership refers to the specific group of people or organizations that are eligible to join a credit union.

Who is required to file chartering field of membership?

The credit union's management team or board of directors is typically responsible for filing the chartering field of membership.

How to fill out chartering field of membership?

The chartering field of membership can be filled out by providing detailed information about the group or groups of people eligible to join the credit union.

What is the purpose of chartering field of membership?

The purpose of chartering field of membership is to establish the eligibility criteria for individuals or organizations to become members of the credit union.

What information must be reported on chartering field of membership?

The information that must be reported on chartering field of membership includes the specific criteria for eligibility, any restrictions on membership, and any relevant documentation.

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