EVERYONE CAN JOIN?

An advertisement by Truliant Federal Credit Union in the Charlotte Observer blatantly said "EVERYONE CAN JOIN!"

EVERYONE CAN JOIN! was in large, bold font and was conspicuously placed in the ad to draw your attention to it.

Buried in the fine print was a barely legible disclaimer "must meet eligibility requirements to join."

This advertisement is clearly misleading, because federal credit unions are required to have a defined field of membership.

Stating that “everyone can join” misrepresents the common bond requirement for membership at Truliant and may violate the National Credit Union Administration’s accuracy in advertising regulation.

This is not the first instance of such blatant advertising by credit unions. The California Department of Financial Institutions in its April 2013 DFI Bulletin warned credit unions that advertisements stating “everyone can join” or “all individuals can join” are impermissible.