Links in “Credit Unions”

The new NCUA seven-part video series is aimed primarily at directors of  small to medium size credit unions. The first installment entitled “What Every Board of Directors Should Know” provides information on developing a sound governance program, the traits of an effective and ineffective chairman, and evaluating and supporting the credit union’s manager/CEO. [9/14/15]

The uncertainty and potential liability that credit unions face as a result of a recent ruling by the FCC concerning the Telephone Consumer Protection Act (TCPA) has CUNA fired up and urging Congress to hold a hearing to investigate their concerns. CUNA believes that the FCC order limits the ability of credit unions to contact their members, either by telephone or text, with relevant and timely account information. [9/14/15]

Despite having received over 3,000 comment letters, NCUA Chair Debbie Matz says that the agency plans to finalize proposed revisions to the member business lending rule “as soon as possible.”  Matz stated that credit unions have demonstrated they can administer member business loans in a safe and sound manner and will benefit from the diversity that MBLs bring to their portfolios. [9/14/15]

One of the most underutilized credit union tools, the Low-Income Designation can actually provide some strong exemptions and opportunities. NCUA former chair and principle partner of Dollar Associates, Dennis Dollar, explains how to take advantage of this rule. [9/11/15]

Proposed FinCEN rules would require investment advisers to establish written anti-money laundering programs, report suspicious activity and follow recordkeeping requirements. How might this impact your credit union? [9/11/15]

Three Senators introduce a bill that would raise the member business lending cap from 12.25% of assets to 27.5%. [9/11/15]

A NAFCU blog post discusses the Federal Reserve's newly presented framework for managing product risk in their 7th Anniversary Issue of the Consumer Compliance Outlook. [9/10/15]

As the digital world continues to strangle branch traffic, many credit unions are still moving forward with branch construction anyway. This begs the question—what is the best use of an institution's expansion capital? [9/10/15]

The NCUA Board already has their line up of topics to discuss in its open meeting Sept. 17. At the top of the list is the Regulatory Flexibly Act, then statutory inflation of civil money penalties and the aggregate lending limit for corporate credit unions. [9/10/15]

Federally insured credit union membership grew to more that 101 million at the end of Q2 this year, and cooperatives continued to grow loans to support this new membership. The number shows a steady growth; at this time last year credit union membership had just reached 100 million. [9/9/15]