Brad Barnes, vice president of finance at Air Academy Federal Credit Union, said he expected the NCUA to "make their next big announcement" or face a firing squad of tough questions from CUNA CFO Council conference-goers during yesterday morning's general session in Las Vegas.
Instead, he said NCUA's Kim Iverson, acting director of capital markets, had a fairly supportive audience from "the group most involved" in implementing the NCUA's corporate stabilization measures.
Barnes asked a question from the audience: will the NCUA renew his CU SIP certificate when it matures next January?
"She said they don't have the congressional authority to extend the program past January," Barnes said. He added he assumes congressional approval of the corporate stabilization fund will probably eliminate the NCUA's need to borrow from credit unions anyway. The $450 million credit union participates in the SIP program, and Barnes said he has some interest in renewing.
Barnes said the main reason he attended the conference during tough times was to network with CFOs he's chatted with on the group's listserv. He said he's solicited advice from the online community a few times in the last year on topics ranging from accounting to staff management.
"It's nice to put faces with names you've seen on the listserv," he said.