Links in “NCUA”

NCUA and AARP have signed a Memorandum of Understanding outlining a series of educational initiatives for the next two years, including consumer-friendly financial services, anti-fraud efforts, and entrepreneurial and financial literacy education. There are plans to share financial education tools and resources, to co-host community events, and for participation in working groups. The AARP vice president stated that “By working with organizations like NCUA, we can help ensure that consumers of all ages have the tools they need to manage their money and achieve short- and long-term financial resilience.” [9/12/14]

The data released by NCUA for the year ending June 30, 2014, shows an increase in the median rate of loan growth, with Arizona and Iowa showing the highest rate of growth. The median growth rate for shares and assets has declined somewhat, but delinquency rates have remained steady. See how your state fared compared to others. [9/10/14]

NAFCU and CUNA are urging the Federal Housing Finance Agency to drop its proposal to, among other things, increase the guaranty fee (G-fee) as the increase could adversely impact the housing market. The G-fees are charged by FNMA and FHLMC to protect their portfolios against credit losses. [9/9/14]

Chip Filson of Callahan and Associates says that NCUA’s focus on static programming to pass shock tests and the agency’s belief that IRR management is simply a matter of proper balance sheet programming is wrong. In the real world, credit union managers make daily decisions about pricing for loans and shares, investment terms, and which products to market to protect their margins. [9/4/14]

Federal bank regulators are required to review their regulations at least once every 10 years. CUNA recommends that NCUA establish a regulatory review working group of publicly-elected credit union officials and NCUA staff that could make annual recommendations to improve, reduce, or eliminate regulations, reporting requirements, and other directives. [9/4/14]

NAFCU has submitted a comment letter to NCUA citing its “dirty dozen” list of regulatory requirements that should be eliminated or amended. In particular, NAFCU states that the Member Business Lending Rule is far too restrictive and burdensome and that certain bylaw provisions need to be revised to reflect modern practices. [9/3/14]

NCUA will be conducting a webinar entitled "Merger Best Practices” on Wednesday, September 17^th at 2:00 pm EST. A panel of NCUA experts will discuss the characteristics of a credit union heading towards a merger, knowing when to merge, merger structure and negotiations, and how to achieve the maximum benefits for merging the credit union and its staff. [9/3/14]

The second quarter growth observed for federally insured credit unions marks the highest year-over-year loan growth since 2006. NCUA Board Chairman Debbie Matz attributed the growth to a stronger economy and a stronger credit union system, saying the two go "hand in hand." Despite the observed growth in lending, interest-rate risk continues to be a concern and priority for NCUA. [9/3/14]

NCUA issued three prohibition orders in August against Donna Harabin, former manager of Telco FCU, Cindy Moser, former employee of Logan Medical FCU, and Marnett Pich, former employee of St. Jean’s CU. [9/2/14]

NCUA is hosting a webinar focusing on best practices surrounding merging. Topics include timing, structure and negotiations, characteristics of a CU heading towards a merger, and maximizing benefits. [9/2/14]