Tuesday, January 2, 2018

NCUA Declares the State of Wyoming a Rural District

In November 2017, the National Credit Union Administration (NCUA) granted WYHY Federal Credit Union (Cheyenne, WY) a community charter serving the entire state of Wyoming as a rural district.

The estimated 2016 population of Wyoming is 585,501.

The credit union was able to add the whole state, because NCUA raised the population threshold for a rural district from 250,000 to 1 million under its new field of membership rule.

However, NCUA is abusing the term rural by stating the whole state of Wyoming is a rural district.

While the population density for the state is approximately 6 people per square mile, more than half of the residents in Wyoming reside in urban areas.

Below is an image of the approval.

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