Credit unions can be forthcoming and disclose a great deal about their financial condition in ways other than releasing CAMEL ratings, said Bill Brooks, a former credit union CEO and NCUA examiner.
“Releasing the number could cause a run on the credit union, and credit unions are already required to release a great deal of financial information every quarter. There are better ways to get information out to your members. Releasing the rating isn’t transparent, it’s stupid,’’ said Brooks, a former CEO of Government Printing Office FCU and Lafayette FCU and currently a consultant and wealth manager in Delaware.
The debate over the release of CAMEL ratings release has received considerable attention recently because of the NCUA’s decision to no longer do joint examinations with North Carolina regulators after the state authorized State Employees’ Credit Union to release its rating last year.