NCUA v. First National Bank & Trust

Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. The case involves the Federal Credit Union Act, 12 U.S.C. §§ 1751 -1759k, which limits federal credit union membership to "groups having a common bond of occupation or association, or to groups within a well-defined neighborhood, community or rural district." 12 U.S.C. § 1759. NCUA, defines three permitted types of common bonds: occupational, associational, and community. Until 1982, federal credit unions formed along occupational lines consisted of the employees of one employer. In 1982, NCUA announced a multiple group occupational credit union policy that resulted in large, interstate, credit unions that offer banks competition for consumer products and services.