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Provide Evidence of Sponsor Commitment if Critical to Success

Provide Evidence of Sponsor Commitment if Critical to Success

This section applies to each of the three types of FOM. A sponsor is any person or entity that is providing resources or support to the credit union. If a sponsor is going to provide resources and/or support to the credit union that are not cash or in-kind capital donations discussed in the previous paragraph, and that sponsorship is critical to the credit union’s success, documentation must be provided detailing the type and amount of support (for example, access to potential members at work or in the community, support of credit union marketing in entity newsletters or mailers) and the length of time the support will be provided.

Provide copies of commitment letters to the NCUA if they were not uploaded with the POC submission in Phase 1.


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