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How to Start a Credit Union
The National Credit Union Administration (NCUA) charters federal credit unions.
A charter is a license to operate the credit union. Below are some resources to
assist those who are considering the formation of a federal credit union. The
list is not exhaustive, but outlines the steps necessary to begin the chartering
process.
After you have reviewed these materials and determined you are able and
interested in forming a federal credit union, you may initiate the chartering
process by submitting a written request for preliminary approval of the proposed
field of membership (see options and sample wording in Chapter 2 of the
Chartering and Field of Membership Manual) to:
National Credit Union Administration
Office of Small Credit Union Initiatives
1775 Duke Street
Alexandria, VA 22314
or
Via e-mail at NewFCU@ncua.gov
Reference
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Description
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Link
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NCUA’s Chartering and Field of Membership Manual
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This manual sets forth policies for both granting and amending a federal credit
union charter. See Chapter 1 for
information on establishing a credit union; Chapter 2 for field of membership
policies; and the Appendix for new charter application forms.
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Download PDF
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Federal Credit Union Bylaws
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The FCU bylaws address a broad range of matters concerning a credit union’s
organization and governance; the relationship of the credit union to its
members; and the procedures and rules a credit union must follow.
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Download PDF
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Federal Credit Union Handbook
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The FCU Handbook was created to assist the board of directors in conducting the
credit union affairs. The contents are
useful to credit union officials and employees in carrying out their duties and
responsibilities.
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Download PDF
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Express Chartering Procedures
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This document provides guidance in preparing your charter application and
business plan.
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Download PDF
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Estimated Start-Up and Operating Costs in
Chartering a Credit Union
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This document provides a summary of the steps needed to establish a credit union
and the estimated costs involved.
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Download PDF
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