Links in “NCUA”
- NCUA 4th Quarter Results Reveal a Solid 8% Growth
NCUA performance levels for federally insured credit unions through year-end 2013 show a solid 8% growth led by Idaho, Iowa and Virginia FCUs and return on average assets led by Utah and Washington. Delinquency rate for FCUs was 1.0% nationwide, down from 1.2% in 2012. [3/6]
- Senate Banking Committee Hearing Set for McWatters
NCUA Board nominee, Mark McWatters, is scheduled for a hearing before the Senate Banking Committee on March 13th at 10:00 am EST. Previous hearing dates had been delayed due to inclement weather in the DC area. If confirmed, McWatters will replace Michael Fryzel whose term expired last August. [3/5]
- ABA Writes to NCUA Calling Attention to CUs Membership Advertising
American Bankers Association writes letter to NCUA's chairman calling out Fort Knox FCU's advertisement on its website that consumers who don't meet any of its eligibility requirements may join an association. Letter calls upon NCUA to prohibit such practices and pledges to notify NCUA of future efforts to circumvent field of membership requirements. [3/5]
- More on NCUA’s Cautions Regarding Interest Rate Risk
Interest rate risk is a top supervisory focus for the NCUA, which notes that supervisor action has been necessary in some "outlier" cases. [3/5]
- NCUA Issues Supervisory Letter on Derivatives Examination Guidance
NCUA has issued Letter to Credit Unions No. 14-CU-04 to remind federal credit unions that the effective date to begin applying for derivative investment authority was March 3 and to let state-chartered, federally insured credit unions know that under state parity provisions they may be able to follow a similar approval process through their applicable state supervisory authority. Federal credit unions must apply before receiving approval from NCUA to use the new derivatives investment authority, and this NCUA Letter provides answers to the most common questions regarding the process. [3/4]
- NCUA: Good Performance Noted, But Warning Issued
Many of the key indicators in 2013 were positive, but concerns that CUs may be leveraging their futures by taking on excessive interest rate risk remains. Focus remains prudent approach to long-term investments in pursuit of short-term returns that may prove volatile and costly in a forecasted rising interest rate environment. [3/4]
- Q4 Data Shows Continued Credit Union Growth
Loans, membership and net worth all experienced growth in the last quarter of 2013, according to data released by NCUA. However, net interest margins declined and NCUA Chair Debbie Matz warned that credit unions should still be concerned about interest rate risk and should avoid concentrations in long-term investments. [3/4]
- NCUA Prohibition Orders Released for February
Details on four orders against former CU employees were released by the NCUA for personnel involvement in various charges associated with theft, embezzlement, and larceny. [3/3]
- NCUA’s Latest YouTube Installment Released
The NCUA's latest installment on the economy and impact on credit unions is available at the NCUA's YouTube channel. Key items of focus include forecast rise in longer-term interest rates as economic growth improves. [3/3]
- NCUA Promotes BSA Knowledge
March 19, 2014 webinar from NCUA on BSA-MSB Issues provided to aid credit union managers and compliance staff understand both risks associated with such entities and the failure to properly monitor related activities. Features AffirmX's own Jane Pannier. [2/28]
