CUCollaborate, a company driving credit union growth through collaboration, announces the launch of its field of membership expansion tool developed in coordination with Dollar Associates, the nation’s leading credit union consulting firm in the field of membership arena.
The tool helps credit unions of all sizes and charter types research how to best expand their fields of membership under the new rules passed by the NCUA.
“Our mission is to help credit unions of all sizes and charters grow,” says Samuel Brownell, CEO, CUCollaborate, “We started by helping credit unions attract more consumers through resources like Credit Union Match and now we are broadening our services to include helping credit unions expand the potential pool of consumers that can join their credit union.”
Dollar Associates provided their knowledge and expertise in helping CUCollaborate develop the logic that processes the new complex field of membership rules and makes field of membership expansion more accessible to every single credit union. Within the tool, credit unions are able to visualize their own membership eligibility rules and discover new areas of expansion permitted under the new rules.
“One of the biggest questions most credit unions face when looking at their field of membership expansion options is ‘what is the art of the possible’ for my particular credit union,” said Dennis Dollar, Principal Partner of Dollar Associates and a former NCUA Chairman. “We were pleased to have the opportunity to partner with CUCollaborate in developing this tool that, while they will still have to develop business plans and a successful application to expand their FOM, will enable credit unions to determine what options are available and to know if they have a viable option to help their strategic growth through FOM expansion.”
The tool allows credit unions to explore adding new geographic areas and employer groups to their fields of membership as well as research the fields of membership of other credit unions. It considers all of the NCUA’s requirements in selecting areas for community expansions, rural area expansions, and underserved area expansions. The tool’s dynamic logic draws upon data from the NCUA, FDCI, Census, CDFI, CFPB, as well as CUCollaborate’s proprietary database of credit union fields of membership rules. To see how the tool can simplify expansion for you and your credit, visit CUCollaborate’s site at https://cucollaborate.com/register.
About CUCollaborate: CUCollaborate launched in 2014 with the mission of helping credit unions of all sizes and types grow through meaningful collaboration.
In 2015, CUCollaborate launched a Kickstarter campaign and successfully raised the funds to begin development of Credit Union Match, a tool that helps consumers find credit unions that they can join. CUCollaborate has since gone on to create several tools focused on credit union fields of membership and making it as easy as possible for consumers to find and join credit unions.
About Dollar Associates: Dollar Associates is a full-service consulting firm focusing exclusively on credit unions and the organizations that serve them. Headquartered in Birmingham, Alabama, Dollar Associates has been assisting progressive and growing credit unions with their strategic needs – including field of membership, mergers, regulatory consultation and strategic planning – since 2004.