Hyland Encourages CUs to Offer Products From the Member Perspective
ALEXANDRIA, Va. -- NCUA Board Member Gigi Hyland urged credit unions in Florida late last month to provide input to NCUA and other regulators, but also take their cues from members when looking at products and services.
"The main themes of my remarks were to urge credit unions to continue to be consumer-centric in product and service delivery and to provide insight into the regulatory perspective on current issues, such as BSA and membership growth," Hyland said of her talks with the Southernmost Chapter in Miami Lakes, and the South Florida and Broward Chapters in West Palm Beach, PBC Credit Union and Town of Palm Beach Federal Credit Union, both located in West Palm Beach. She added, "I cannot overemphasize the importance of maintaining an open dialogue with NCUA through the public comment process and with your examiner. You need to take the time to briefly document your thought process on key activities, such as vendor due diligence and BSA." Hyland also encouraged credit unions to comment during NCUA's annual one-third review of regulations as well as to her newly formed Outreach Task Force. She also noted the upcoming Tampa Access Across America Summit in March.
Addressing the subject credit unions love to hate, Hyland highlighted the Feb. 6 NCUA/Financial Crimes Enforcement Network Bank Secrecy Act Webinar.