The NCUA will host a webinar next Wednesday, Feb. 20, at 2 p.m. EST on “Net Worth Restoration Plans: A Path to Recovery.”
The agency’s Office of Small Credit Union Initiatives will review capital requirements for credit unions and the net worth restoration plan process.
Here are some questions the session will address:
- What are the most common causes of net worth declines?
- What are the minimum regulatory requirements for net worth under Prompt and Corrective Action and Part 702 of NCUA's Rules and Regulations?
- What is required in a net worth restoration plan and what are the timelines for submission?
- Is there assistance available for credit unions developing a net worth restoration plan?
A staff member from a credit union that has gone through the process also will participate, the NCUA said.
Registration is free and online and popups need to be permitted. Questions can be sent in advance to WebinarQuestions@ncua.gov with the subject line "Net Worth Restoration Plan Webinar."
