NCUA Board Caps CU Loan Participations
ALEXANDRIA, Va. — The NCUA giveth and the NCUA taketh away.
At its Dec. 15 meeting the agency’s board proposed placing more restrictions on loan participations while granting credit unions greater flexibility in other areas.
The board also approved a request from Henrico FCU to expand its community charter from one county to all counties and municipalities in the Richmond, Va. metropolitan statistical area. The Henrico, Va.-based credit union has assets of $119 million.
NCUA CFO Mary Ann Woodson told the board that the NCUSIF has had a net income of $374.9 million this year, including $7.3 million in November. When the agency made its projections last year, it predicted a $512.3 million loss during the first 11 months of 2011.