Comments on Proposed Field-of-Membership Rule Due Dec. 9
Stakeholders have until December 9 to submit their comments on NCUA’s proposed rule that recommends additional changes to the agency’s field-of-membership rules. This proposal responds directly to suggestions received during the initial field-of-membership rulemaking, but which could not be incorporated in the recent final rule because of the Administrative Procedure Act.
Insured Shares and Deposits Exceed $1 Trillion in Third Quarter
Insured shares and deposits in federally insured credit unions grew, for the first time, to more than $1 trillion and membership reached 106.2 million in the third quarter of 2016, according to newly released NCUA Call Report data for the quarter ending Sept. 30, 2016.
NCUA Sets 2017 Call Report Deadlines
Beginning with the Dec. 31, 2016, reporting cycle, federally insured, natural-person credit unions will have until the final Sunday of the month following the end of the quarter to file Call Reports. Credit unions will now have, on average, an additional seven days to file Call Reports.
New NCUA Videos Educate Credit Union Board Members about Financial Statements
Reading financial statements is an essential job for any credit union board member, and NCUA’s new video series can help make that job easier. Understanding Financial Statements, now available on NCUA’s YouTube channel, is a five-part series that discusses the balance sheet and income statement, key line items in each and the relationship between the documents. The videos also will help you know what questions, you, as a board member, need to ask your staff about your credit union’s performance.
NCUA Consumer Assistance Center Portal Adds Flexibility for Credit Unions
NCUA has improved its consumer complaint process to allow for expanded portal access by additional authorized credit union staff. Credit union chief executive officers may now designate an additional credit union employee or official to use the portal to view consumer complaints submitted to the Consumer Assistance Center concerning their credit unions. Previously, only CEOs had access to the portal on behalf of their credit unions. This expanded access will help credit unions provide timely responses to consumer complaints received through the portal.