Links in “NCUA”

The NCUA has recently launched its improved online Consumer Assistance Center portal. Technological enhancements streamline the process for consumers to submit inquiries, complaints, and additional documentation through a secure portal. Shortly, credit unions will also be able to use the portal to voluntarily submit complaint response information. [9/16/15]

We know that the recent changes to NCUA’s fixed asset rule affords federal credit unions more flexibility in acquiring and managing fixed assets. The lifting of the 5% cap on fixed assets has a more positive impact on smaller credit unions as a larger percentage of their assets are tied up in land and buildings (learn more about that in a recent Risk Watch). However, all federal credit unions can benefit from the ability to develop their properties to their full potential. [9/15/15]

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]

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]

NCUA data showed median nationwide credit union loan growth of 4% (Alaska highest at 13.4%) with a slight decline in overall delinquency. Nationwide membership growth showed mixed with larger credit unions growing, but countered by 52% of the nation's CUs reflecting fewer members over the prior year and 21 states reflecting negative membership growth rates (Pennsylvania -2.1%). The national average return on assets was 81 basis points for the first half of the year with all states showing positive ROA (Utah highest at 140 bps). [9/11/15]

The NCUA announced its capacity to gather and resolve consumer complaints in a more efficient manner through the new online Consumer Assistance Center. CAC allows consumers to submit inquiries, complaints and additional documentation online as well as check the status of their complaints online. Upcoming plans call for Credit Union responses to complaints. [9/11/15]

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]

NASCUS supports NCUA’s proposed member business lending rule… with a few modifications. NASCUS made several recommendations to the NCUA regarding this rule, some of the recommendations included requiring a written commercial loan policy from all credit unions and recognition of privately insured credit unions. [9/10/15]

A new online search tool has been implemented on the NCUA website for finding information on federally insured credit unions. The tool makes researching credit unions easier for consumers by providing various search functions, an interactive map, and basic information for each institution. [9/2/15]