NCUA to update FOM process, replace FOMIA with new CAPRIS software
Starting this month, the NCUA (National Credit Union Administration) will begin implementing a new, modernized system focusing specifically on the online application process for Field of Membership expansion.
The news was announced via a letter to credit unions issued by the NCUA on August 12th with the title of “Implementation of Modernized Systems.”
The transition will feature the utilization of new software incorporating “emerging and secure technology” to enhance the Administration’s ability to collect, examine and report on data, along with furthering its efforts on field of membership. The overall goal is a simplified, straightforward application process, which should ultimately provide several benefits to both credit unions and their members.
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