Understanding TOM Codes
TOM codes, or Types of Membership codes, provide further classification within a credit union's Field of Membership (FOM). These codes enable a more granular breakdown of FOMs, such as community, multiple common bonds, TIP (trade, industry, or profession), among others. TOM codes are reported to, and provided to the public by, the NCUA.
Key Functions of TOM Codes:
- Following Rules: TOM codes assist credit unions in adhering to the regulations outlined in the Federal Credit Union Act.
- Making it Easy: They make it easy for members to find credit unions that match their communities or interests.
- Learning about Trends: Researchers and regulators use TOM codes to study trends in credit union memberships.
- Being Flexible: TOM codes let credit unions adjust memberships to stay relevant as things change, provided their charter allows.
Peer Pointer!
TOM codes are only reported to the NCUA by Federally Chartered CUs. State Chartered CUs do not have a TOM code and are classified as “other”.
Utilize TOM codes and FOM in Peer Suite to create targeted Peer Groups. This aids in benchmarking credit union performance against industry peers that serve similar populations. Leverage these codes in Peer Group creation through the FOM/Charter Filter of Peer Suite Criteria Build Peer group. Additional details on creating custom peer groups can be found HERE.
| TOM CODE | TOM Code Description |
|---|---|
| 00 | Community |
| 01 | Associational– faith-based |
| 02 | Associational– fraternal |
| 03 | Associational – other than faith-based or fraternal |
| 04 | Educational |
| 05 | Military |
| 06 | Federal, State, Local Government |
| 10 | Manufacturing – chemicals |
| 11 | Manufacturing – petroleum refining |
| 12 | Manufacturing – primary and fabricated metals |
| 13 | Manufacturing– machinery |
| 14 | Manufacturing– transportation equipment |
| 15 | Manufacturing – all other |
| 20 | Service – finance, insurance, real estate, trade |
| 21 | Service– health care |
| 22 | Service– transportation |
| 23 | Service– communications and utilities |
| 24 | Single common bond – other |
| 34 | Multiple common bond – primarily educational |
| 35 | Multiple common bond – primarily military |
| 36 | Multiple common bond – primarily federal, state, local government |
| 40 | Multiple common bond – primarily chemical |
| 41 | Multiple common bond – primarily petroleum refining |
| 42 | Multiple common bond – primarily primary and fabricated metals |
| 43 | Multiple common bond – primarily machinery |
| 44 | Multiple common bond – primarily transportation equipment |
| 49 | Multiple common bond – primarily other manufacturing |
| 50 | Multiple common bond – primarily finance, insurance, real estate, trade |
| 51 | Multiple common bond – primarily health care |
| 52 | Multiple common bond – primarily transportation |
| 53 | Multiple common bond – primarily communications and utilities |
| 54 | Multiple common bond – primarily faith based |
| 98 | Multiple common bond – other |
| 66 | Community – Rural District |
| 77 | Community– CBSA(+) Adjacent |
| 99 | [CharterState] State Charter |
Understanding TOM codes can aid credit unions in meeting their specific regulatory requirements but also empower credit unions to adapt strategically and meet the distinct needs of their members. Integration into Peer Suite further enables credit unions to improve performance benchmarking and cultivate a more informed, responsive environment.