ALEXANDRIA, Va. (Nov. 21, 2012) – The National Credit Union Administration (NCUA) is now accepting nominations for credit union participation in the Consulting Program run by the Office of Small Credit Union Initiatives (OSCUI).
The nominations deadline for enrollments for the first round of 2013 is Friday, Nov. 30. A nomination form is available here
“This program has a lot to offer eligible credit unions,” said OSCUI Director William Myers. “Those that participated in the first round earlier this year received a great deal of value, and we’re hopeful more credit unions will take advantage of the opportunity.”
OSCUI’s consulting services are provided by experienced economic development specialists who offer assistance in areas such as budgeting, marketing, policy development, strategic planning, and issues identified in examination reports. Credit unions with total assets under $10 million, a new charter (fewer than 10 years), or a low-income designation are eligible for the program. Credit unions may nominate themselves or be nominated by their examiner. More than 200 credit unions participated in the most recent round.
The OSCUI consulting program regularly receives high marks from participants. Jane Baker, CEO of Gogebic County Federal Credit Union, described the experience as “phenomenal” and “very productive.” Her credit union held a strategic planning session focused on financial performance. Board President Ernestine Yarbough of First Baptist Church of Darby Federal Credit Union said the program provided “immeasurable” assistance in developing a business plan, new loan policies and a disaster recovery plan.
NCUA accepts credit unions into OSCUI’s Consulting Program twice a year. Selected credit unions receive specialists’ assistance during the subsequent six months. At the end of that period, all credit unions are graduated from the program. Credit unions not chosen may apply again in subsequent rounds. For additional information about NCUA’s services to small, low-income designated and newly chartered credit unions, contact OSCUI at firstname.lastname@example.org
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.