Build It and They will Come — The Myth of Community Charters

In the movie Field of Dreams, the plot was based on the mythic power of baseball in American culture. Build a baseball field in the middle of cornfields and the rest is success.Ballplayers will emerge from rows of corn and the headlights of cars carrying fans will stretch far into the horizon. Similarly credit unions, which have had field of membership as part of their culture for decades, have frequently viewed the transition to an open or community charter as almost a guarantee for continued success. Once opened up, all a credit union need do is to tell the public they can join. By not having to say no to prospects, the belief is that a pipeline of continuous new members is assured.