A rule proposed by the NCUA Board in December would prohibitrunning credit unions out of personal residences. In introducingthe rule, the NCUA stressed that home-based credit unions putexaminers at risk and could compromise the regulator's ability toexamine the institution.
|In her editor's column published in Credit Union Times'Jan. 8, 2014 issue, Publisher/Editor-in-Chief Sarah Snell Cookesupported the measure, saying the very fact that the agency had toissue a rule about home-based credit unions was preposterous.
|Readers disagreed, citing the successful history of start-upcredit unions run out of less formal spaces.
|Read more about the proposed rule, Cooke's editorial and lettersreceived from readers at the links below.
|Growing From the Home Office: Letter to the editorfrom Jim Miller Sr., president/CEO of Liberty Savings FCU.
|Now, Really, Who's Preposterous?: Letterto the editor from David Lenoir Sr., League of SoutheasternCredit Unions.
|Location Not All That Matters: Letter to theeditor from Brian Gately, CEO of Credit Union ConsultingServices.
|It's All About Location, Location,Location: Executive editor's column by SarahSnell Cooke
|Fryzel Votes Against Home-Based CU Rule:On-site coverage of the NCUA Board's December meeting and detailsabout the proposed rule.
|Matz Says Home-Based CUs Need to Move Out: The NCUAchairman explains in this video interview why the agency feels itsemployees are at risk working in private residences.
|Fryzel Defends No Vote: Watch the NCUA boardmember explain why he does not support banning home-based creditunions in this video interview.
|Metsger on Moving Home-Based CUs: Where doesthe board's third swing vote stand on the proposed rule? Find outby watching this video interview.
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