Choose a Field of Membership

As set forth in the Act and the Chartering and Field of Membership Manual, there are three types of federal credit union charters: single common bond (one occupational or associational group), multiple common bond (trade, industry, or professional groups), and community.

Every credit union must establish a field of membership that is permissible under law and regulation, and only persons or groups within it—plus a few others by virtue of their close relationship to a member—may join the credit union. For example, a member’s immediate family or household members may join the credit union. Other eligible groups, along with additional information on fields of membership, can be found in NCUA regulations part 701, Appendix B - Chartering and Field of Membership Manual.

The following sections provide specific details about the three field of membership charter types:

• Section A—Single Common Bond Charter

• Section B—Multiple Common Bond Charters

• Section C—Community Charter

NCUA will provide preliminary approval of one of the three types of field of membership once you submit the required documentation. Information about qualifying for a low-income designation based on your proposed federal credit union’s field of membership is also outlined later in this chapter, along with the potential benefits of such a designation.

Last updated on March 30, 2026