NCUA Shreds Another Dusty Interpretive Ruling on Membership
Published Date: 8/6/2026
Rule
Summary
The NCUA Board (Board) is rescinding Interpretive Ruling and Policy Statement (IRPS) 06-1. The Chartering and Field of Membership Manual (Chartering Manual) incorporates the current requirements for adding underserved areas, making IRPS 06-1 unnecessary. This rescission reduces the burden for federal credit unions (FCUs) by limiting the number of sources that FCUs must check to verify compliance with applicable requirements. After considering the public comments, the Board adopts the proposal without modification.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
IRPS 06-1 Rescinded; Fewer Sources to Check
The NCUA is rescinding Interpretive Ruling and Policy Statement 06-1 effective September 8, 2026. If you are a federal credit union (FCU), you will only need to rely on the Chartering and Field of Membership Manual (including Chapter 3) for the current requirements for adding underserved areas, which reduces how many documents your staff must check to verify compliance.
No Significant Impact on Small Credit Unions
NCUA certifies the rescission will not have a significant economic impact on a substantial number of small credit unions. For this analysis, NCUA defines small credit unions as those having under $100 million in assets, and it expects any effect will be indirect and mainly reduce staff time and other resources spent on checking duplicative sources.
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Key Dates
Department and Agencies
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