The NCUA and credit unions share common interests and can work together to support the industry, NCUA Board Chairman Debbie Matz told Maine credit unions at their annual meeting.
"We can and do work well together,” Matz told the Main Credit Union League’s Annual Delegates Meeting last Friday.
“Although our role is to regulate credit unions and ensure the safety and soundness of the Share Insurance Fund, NCUA wants to create an environment that protects consumers and allows credit unions to operate successfully,” she said.
Matz pointed to efforts the agency is making to streamline regulations and help encourage congressional approval to raise the member business lending cap.
"Credit unions know their members and generally lend in a responsible manner, so raising the cap could enable more small businesses to access credit at their local credit union," the NCUA Board chair said.
She added, "Credit unions in Maine and across the country are coming through the economic recovery safe and sound, and I think they have a bright future."
More than 100 delegates from Maine’s 62 credit unions attended the gathering in Portland.