Why do credit unions want to expand their fields of membership?
To honor their long-standing commitment of strength and viability to existing long-term members, credit unions need to gain additional members. The inability to expand membership or client base would damage any financial institution or business. All financial institutions need the flexibility to adapt to the changing community and economy in order to remain economically viable. Credit unions were originally organized around employer groups as a mechanism to facilitate chartering and growth. By expanding their fields of membership, credit unions can retain their unique function and better serve not only their members, but also all members of the community.
