CDFI Certification can Help Credit Unions Better Serve Members
“Credit unions are uniquely positioned to advance the goals of the Community Development Financial Institutions Program and I encourage every qualified credit union to make CDFI certification a priority in the next few months. Increasing the number of credit unions with this certification will allow significant dollars to be put to work helping people of modest means meet their financial needs. This is the core of the credit union mission.”
NCUA Board Welcomes Herrera Nomination
National Credit Union Administration Board Chairman Rick Metsger and Board Member J. Mark McWatters both issued statements welcoming President Barack Obama’s intent to nominate John Herrera of North Carolina to the NCUA Board.
New Economic Update
NCUA Chief Economist Ralph Monaco reviews how recent economic trends, interest rates and Brexit could affect credit unions.
NCUA Asks for Exam, Supervision Comments by Aug. 1
NCUA’s Exam Flexibility Initiative is a comprehensive effort to evaluate the agency’s largest function: its examination and supervision program. Credit union stakeholders interested in our efforts to modify supervision and examination procedures should submit comments by Aug. 1, NCUA will accept suggestions received after the deadline, but comments received before the deadline will receive full consideration.
NCUA Outlines Plans for Adding “S” to Credit Union CAMEL Ratings
At its June meeting, the NCUA Board received a briefing about plans for adding a “sensitivity to market risk” element to the current CAMEL rating system. The Board also unanimously approved two items: A proposed rule that makes technical amendments to improve the transparency, organization, and ease of credit union use of the Community Development Revolving Loan Fund; and an interim final rule adjusting civil monetary penalties for inflation, as required by federal law.