NCUA Expands Definition of Small Credit Union and Takes Other Actions

At yesterday’s board meeting, NCUA directors unanimously approved a final rule that extends the definition of a “small credit union” under the Regulatory Flexibility Act from credit unions with assets up to $50 million to credit unions with assets up to $100 million. This action means that an additional 733 credit unions will be eligible for regulatory relief in the future and eligible for consulting and educational assistance from the Office of Small Credit Unions. The Board also approved three other final rules. [9/18/15]