Underserved Geographic Areas Policy Statement

PROTECTING THE INTEGRITY OF IDAHO FINANCIAL MARKETS SINCE 1905 Idaho Department of Finance Policy Statement 2024-01-FIB THIS POLICY STATEMENT IS AN AGENCY INTERPRETATION OF EXISTING LAW AND DOES NOT REPRESENT A NEW LAW OR LEGAL REQUIREMENT P A G E | 1 Idaho Department of Finance Policy Statement 2024-01-FIB UNDERSERVED GEOGRAPHIC AREAS ISSUE DATE: July 29, 2024 I. Background The Idaho Credit Union Act § 26-2110, regarding membership, was amended during the 2024 Idaho Legislative Session. The amendment became effective July 1, 2024, and states, “A credit union may add to its membership persons who reside in or work in a geographic area that the director determines is underserved.” II. Geographic Areas The Director of the Idaho Department of Finance (Department) has determined the following geographic areas are underserved: • Clark County • Lincoln County

PROTECTING THE INTEGRITY OF IDAHO FINANCIAL MARKETS SINCE 1905 Idaho Department of Finance Policy Statement 2024-01-FIB THIS POLICY STATEMENT IS AN AGENCY INTERPRETATION OF EXISTING LAW AND DOES NOT REPRESENT A NEW LAW OR LEGAL REQUIREMENT P A G E | 2 III. Approval A credit union seeking to serve persons in these underserved geographic areas must submit a Board-approved Amendment to Bylaws form or Amendment to Articles of Incorporation form to the Department and receive approval from the Director prior to serving the area. The Amendment to Bylaws form and Amendment to Articles of Incorporation form can be found on the Department’s website at https://www.finance.idaho.gov. Contact – You may direct comments or requests for additional information regarding this Policy Statement to: Bureau Chief, Financial Institutions Bureau Idaho Department of Finance Telephone: 1-(208)-332-8000 P.O. Box 83720 Facsimile: 1-(208)-332-8099 Boise, Idaho 83720-0031 Email: finance@finance.idaho.gov