TIPS,Rural Districts Approved
The NCUA Board presided over a monthly board meeting Feb. 21 that concerned mostly positive news for credit unions. Two new rules that expand investment powers and field of membership reach were approved. And year-end share insurance statistics showed improved CAMEL scores and legacy asset performance.
An approved final rule will expand the maximum threshold for rural district field of membership populations to 250,000, an increase over the current 200,000 maximum. The rule also includes a new caveat that the district not exceed 3% of the state’s total population.