ARM 2.59.2002. PERSUASIVE SHOWING OF REASONABLE PUBLIC NECESSITY AND DEMAND

(1) In determining whether a reasonable public necessity and demand is established in any case, the department requires that these words be given a meaning which will promote the public interest of the community as a whole in having a sound banking structure, reasonably competitive and adequate for the needs of the community. (2) In making this determination the following are among the factors which the department may consider: (a) the number of mutual associations already serving the area in which the proposed mutual association would locate; (b) the size of the area; (c) the population of the area; (d) the wealth of residents of the area; (e) the commercial and industrial development of the area; (f) the socioeconomic trends of the area; (g) the adequacy of the services being provided by existing mutual associations compared to the needs of residents and the services to be offered by the proposed mutual association, including a detailed list of banking services that will be offered the community to be served by the new mutual association; (h) the capability of existing mutual associations to handle potential growth of the area; (i) the convenience of the location of existing mutual associations to residents of the area as compared to convenience of the proposed mutual association; (j) the size of financial institutions in the area; (k) the history of financial institutions in the area; (l) an indication of the support the proposed mutual association could reasonably expect to receive from representative segments of the businesses and residents of the area; and (m) the probability of the success of the proposed mutual association.