Video Tellers May Help Credit Unions Expand Their Fields Of Membership

I've seen readers express concern about video tellers replacing live tellers at branches. However, there is one positive aspect. It may allow credit unions to offer membership to more people. According to the Credit Union Times:

NCUA Chairman Debbie Matz made good on her July 24 announcement at NAFCU’s Annual Conference with a release Thursday that declared credit unions can consider video teller machines “service facilities” under certain criteria for purposes of field of membership expansion.

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