Friday, February 27, 2015

ACC Is Compliant with NCUA's Associational Common Bond Requirements

American Consumer Council (ACC) is reporting that the National Credit Union Administration (NCUA) has reaffirmed that ACC is compliant with the agency’s Totality of the Circumstances test and thus meets the associational common bond requirements.

As a result, ACC can continue to refer its members to federally chartered credit unions.

However, in practice, the referrals are from the credit union to ACC as the credit union has the individual join ACC at the same time he/she joins the credit union.

According to ACC, it currently partners with 45 credit unions across the United States and approximately 20 credit unions are awaiting action from the NCUA to add ACC as an associational group.

The simple fact is these credit unions are using ACC to qualify individuals for credit union membership, who otherwise could not qualify for membership.

This is just another illustration that some credit unions are open to anyone.

Read the story.


  1. Looks like the credit unions are doing a run-around NCUA regulations with the blessings of the NCUA. These associational common bond requirements allow credit unions to avoid the costs and expenses related to obtaining a Community FCU Charter. And the NCUA has its blessings.

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