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 Removes Calendar-Year Exam Requirement, Adopts New Strategic Plan
NCUA’s 2017–2021 Strategic Plan, approved unanimously by the Board, updates the agency’s performance goals for examinations. The plan is part of NCUA’s overall efforts to modernize the examination process. In adopting the plan, the Board retired two agency performance goals requiring the examination each calendar year of all federally insured, state-chartered credit unions with more than $250 million in assets and every federal credit union.
NCUA Awards $2.5 Million in Grants
Grants totaling nearly $2.5 million will help 309 low-income credit unions expand services to underserved communities, train staff, improve cybersecurity and provide students with work experience.
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, FTC to Focus July 27 #NCUAChat on Military Consumer Issues
In recent years, servicemembers have become particularly vulnerable to predatory lenders, so the National Credit Union Administration and the Federal Trade Commission will be providing information to empower servicemembers, veterans and their families to be informed consumers in a live chat Wednesday, July 27, beginning at 11 a.m. Eastern.