Alexandria, VA, February 24, 2011 - National Credit Union Administration (NCUA) Board Member Gigi Hyland recently provided an online interview on a number of issues facing the credit union system. The interview was conducted by Mike Lawson of CUbroadcast (www.cubroadcast.com), which provides one-on-one interviews with today’s credit union innovators.
Issues covered included Board Member Hyland’s goals for 2011, statistics on credit union lending and a discussion of how credit unions can enhance their health and growth.
Board Member Hyland noted that her goals this year are a continuation of the objectives she laid out at the beginning of her term. “Aligning policy and practice continues to be a focus of my office’s efforts,” she stated. “My annual visit to each region and meetings with examiners and management are all geared to assuring that the policy decided in Washington is being implemented as intended in the field.”
In response to a question about how the credit union system can keep moving forward, Board Member Hyland responded, “Collaboration, cooperation and capital reform.”
Board Member Hyland opined that credit unions need to find ways to work more collaboratively together to assure future viability. In addition, she noted that reform to Prompt Corrective Action (PCA) and supplemental capital will be key issues for credit unions in the future. Board Member Hyland released a white paper in April 2010 that laid out a variety of issues to consider about supplemental capital.
To see the online interview, go to http://www.cubroadcast.com/2011/02/ncua-board-member-gigi-hyland-addresses.html
NCUA is the independent federal agency created by
the U.S. Congress to regulate, charter and supervise
federal credit unions. With the backing of the full
faith and credit of the United States, NCUA operates
and manages the National Credit Union Share
Insurance Fund, insuring the deposits of more than
98 million account holders in all federal credit
unions and the overwhelming majority of
state-chartered credit unions. At
Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues.