| Expanded Regulatory Relief Eligibility for Small and Non-Complex Credit Unions |
- Expanded NCUA's regulatory exemptions for credit unions with assets of less than $100 million (up from $10 million in 2012)
- Eased compliance requirements for small credit unions to access emergency liquidity
- More than doubled the number of small credit unions eligible for regulatory relief in future NCUA rulemakings (4,500 out of 6,000 credit unions)
- Exempted non-complex credit unions (75 percent of all credit unions) from riskbased capital requirements
|
| Eliminated Fixed-Assets Cap |
- Eliminated federal credit unions' 5-percent cap on fixed assets
- Removed the need to apply for regulatory waivers
- Empowered federal credit unions to make their own business decisions on purchases of land, buildings, office equipment and technology
|
| Pre-Approved Associational Common Bonds |
- Pre-approved 12 categories of associations that federal credit unions may automatically add to their fields of membership
|
| Modernized Member Business Lending |
- Finalized a principles-based rule on member business lending to:
- Remove non-statutory limits on member business loans
- Empower each credit union to write their own business-loan policy and set their own limits under the law
- Eliminate the requirement for all business owners to pledge personal guarantees
- Remove unnecessary barriers on business-loan participations, which help credit unions diversify risks
|
| Expanding Fields of Membership |
- Proposed a modernized field-of-membership rule to:
- Designate each congressional district as a well-defined local community
- Serve Combined Statistical Areas with populations up to 2.5 million
- Raise potential membership to 1 million for federal credit unions in rural areas
- Extend membership eligibility to honorably discharged veterans, contractors and businesses in industrial parks
- Recognize full-service websites and electronic applications as service facilities for select employee groups
- Modernize the definition of "underserved area"
|
| Eased Troubled Debt Restructuring |
- Facilitated credit union loan modifications
- Ended manual reporting of modified loans
- Prevented unnecessary foreclosures
- Kept more credit union members in their homes throughout the housing crisis
|
| Authorized "Plain Vanilla" Derivatives |
- Permitted qualified federal credit unions to use "plain vanilla" derivatives to reduce interest rate risks
- Protected the credit union system from interest rate risks at large credit unions by providing an additional interest rate risk mitigation tool
- Allowed approved federal credit unions to maintain appropriate levels of mortgage loans in portfolios
|
| Approved Treasury Inflation-Protected Securities |
- Offered federal credit unions an additional investment backed by the full faith and credit of the United States with zero credit risk
|
| Established Charitable Donation Accounts |
- Empowered federal credit unions to safely pool investments designed to primarily benefit national, state or local charities
|
An official website of the United States government
