Analyzing credit unions’ 2020 SEG additions

What is a SEG?

Though commonly referred to as Select Employee Groups or SEGs, these groups can share any common bond of association or occupation, not just a single employer. Common types of SEGs include: employees of a company, employees of a government agency, contractors who commonly work for the same company, members of a church, members of a fraternal association, etc.

Who adds SEGs to their field of membership?

Federal multiple common bond credit unions grow their field of membership (FOM) primarily through adding SEGs, though they can also expand using underserved areas. Most state-chartered credit unions also operate by adding SEGs; depending on their specific state regulations they may even be allowed to have SEGs as well as a geographic area within their field of membership. Federal single common bond credit unions can add SEGs too, and in doing so they may become multiple common bond.


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