Consumer Website Draws Attention to CUs Leveraging Association Eligibility

[hrguy]

http://www.cutimes.com/2013/03/27/consumer-website-draws-attention-to-cus-leveraging?eNL=51520a1b140ba0ed7800006c&utm_source=Daily&utm_medium=eNL&utm_campaign=CUT_eNLs&_LID=137763512

 

 

Is this method of recruiting new members compatible with common bond requirements set forth in the Federal Credit Union Act and the NCUA’s Field of Membership Manual?

PenFed spokeswoman Tawnya Lancaster declined to comment on the article.

 

[hairmetal4ever]

Like many things, I think the answer is "it depends". While we love CU's here (I'm a member of three myself), there *is* some legitimacy to the argument that the "common bond" requirement is diminished when you can join the "Credit Union Lover's Association" to be eligible.

 

There's a balance...I think Navy Federal's eligibility requirements are probably a bit *too* strict (would allowing any veteran to join be all that bad?) but yet, USAFed (which is how some of us *wink* got into Navy) was probably WAY too easy...

[hrguy]

No comment means guilty IMO, so with PenFed declining to comment - I would not be surprised if they like everyone else start looking at closing their loophole...may be time to join before that happens

[BobWang]

Hey, *I'M* innocent!

[hrguy]

Hey, *I'M* innocent!

[BDK]

What are these "CU's" all about?

[BobWang]

What are these "CU's" all about?

 

It's a fan club

 

[BDK]

 

What are these "CU's" all about?

 

It's a fan club

 

I need a new CU to lust after...