CU Collaborate

HCUL member credit unions now have access to a web-based tool that analyzes field of membership (FOM) expansion. CUCollaborate, HCUL’s new partner, developed and launched the FOM evaluation tool in February of this year.

Since NCUA’s new FOM rules went into effect on February 6, 2017, more credit unions are considering FOM expansion. CUCollaborate’s proprietary software enables users to visualize, experiment, and test numerous plans to identify the best path to FOM expansion—with just a few clicks. The software allows users to:

  • see if a selection would be approved by the NCUA as an expansion of a community charter FCU’s well-defined local community or rural area;
  • help multiple common bond FCU identify underserved areas it could expand into;
  • search for employers by their characteristics, such as employer industry, number of employees, proximity to credit union branches, and whether the employer is already a Select Employer Group (SEG) of another credit union;
  • review other credit unions’ FOMs to support a user’s own FOM amendments, to conduct competitive analysis, or to identify merger opportunities;
    pinpoint ideal locations for new branches by quickly considering the FOMs of other credit unions, consumer demographics, competitive financial institutions, and more; and
  • enjoy access to research tools that draw on CUCollaborate’s proprietary database and data provided by the NCUA, FDIC, Census Bureau, CDFI, and CFPB.