1. Short title This Act may be cited as the Financial Services for the Underserved Act of 2017 . 2. Amendments Relating to Credit Union Service to Underserved Areas (a) In general Paragraph (2) of section 109(c) of the Federal Credit Union Act ( 12 U.S.C. 1759(c)(2) ) is amended to read as follows: (2) Exception for underserved areas (A) In general Notwithstanding subsection (b), the Board may approve an application by a Federal credit union to allow the membership of such credit union to include any person or organization whose principal residence or place of business is located within a local community, neighborhood, or rural district if— (i) the Board determines— (I) at any time after August 7, 1998, that the local community, neighborhood, or rural district taken into account for purposes of this paragraph is an underserved area (as defined in section 101(10)); and (II) at the time of such approval, that the credit union is well capitalized or adequately capitalized (as defined in section 216(c)(1))