NCUA LETTER TO FEDERAL CREDIT UNIONS

NATIONAL CREDIT UNION ADMINISTRATION
1775 Duke Street, Alexandria, VA  22314

DATE:        May 2002                                LETTER NO.:  02-FCU-08

TO:             All Federal Credit Unions

SUBJ:        Enhanced Field of Membership Internet Application

RE:          NCUA Letter to Federal Credit Unions No.: 00-FCU-02, Subject:  Field of Membership Internet Application dated November 2000

ENCL:       (1)          Appendix
                    (2)          Enclosure A - User Name and Password Request
                    (3)          Enclosure B - Helpful Hints For Using the Field of                                                        Membership Internet Application
                    (4)          Enclosure C - Frequently Asked Questions

Dear Manager and Board of Directors:

In our continuing efforts to improve the efficiency of submitting field of membership (FOM)expansion requests, enhancements have been made to the Field Of Membership Internet Application (FOMIA).  These enhancements are discussed in detail in the Appendix. This Letter updates our previous Letter to Federal Credit Unions 00‑FCU‑02 issued in November 2000.

While use of the FOMIA is optional, I encourage you to utilize the application to the extent possible.  The FOM application form takes about ten minutes to complete and enables you to receive an immediate electronic confirmation of the action taken.  Once approved by the Board of Directors, you can immediately begin serving the group.  Since its implementation, over 8,400 select groups with over 485,000 potential members have been added via the Internet by credit unions.  Currently, almost 50 percent of credit unions adding select groups of 500 or less do so using the Internet application.  Our enhanced application makes it even easier to add groups on-line by offering updated FOM wording selections with descriptions, the ability to add corporate accounts, and the ability to request your credit union’s FOM by e-mail. 

For your information, enclosed with this letter is detailed information and instructions for using the enhanced version of the FOMIA, helpful hints, and answers to frequently asked questions.  If you receive an error message when using the automated program, please contact NCUA’s Office of the Chief Information Officer’s (OCIO) Customer Service Desk at 800-827-3255.

If you have any questions regarding FOM amendments, please contact your regional office.

                                                                        Sincerely,

                                                                          /S/

                                                                        Dennis Dollar
                                                                        Chairman

Enclosures