More on Air Force FCU

Earlier this year, I reported on NCUA slapping Air Force FCU with a letter of understanding and agreement for improperly adding individuals to the credit union’s membership rolls who were not in its field of membership.

In May, NCUA announced that it approved a change in Air Force FCU's field of membership going from a multiple common bond credit union to a single common bond credit union serving all military personnel in the states of Texas, Oklahoma, Mississippi, Louisiana and Arkansas. Credit Union Journal is reporting that the credit union will also serve civilian and federal government employees at military facilities in those 5 states.

I suspect that this field of membership change was done to limit the harm that may arise from a potential divestiture order from NCUA. If you caste the net wide enough, those previously illegally added members will now qualify as members under the new field of membership.