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News Now

CU System
Kansas Senate subcommittee hearing on FOM is today
TOPEKA, Kan. (2/22/08)--A hearing before a Kansas Senate subcommittee on a banker-drafted bill that would limit field of membership for credit unions is scheduled for 10 a.m. (CST) today, says the Kansas Credit Union Association. The hearing is before the subcommittee of the Senate Financial Institutions and Insurance Committee. The banker bill, K.S.A. 17-2205, would limit credit union fields of membership to groups with a common bond of occupation or association or to groups residing within a well-defined neighborhood, community or rural district. KCUA supports House Bill 2676, which clarifies FOM language in the state credit union law and enables credit unions to define who their fields of membership should be. Late last month, credit unions swarmed the state Capitol to advocate consumer choice in conducting financial business.


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