Risk-Based Rule Lets NCUA Manage CU System
While we often focus on the challenges facing credit unions today, it’s easy to gloss over just how well positioned the system is in the financial services marketplace. Credit unions not only have tremendous financial strength, but also a powerful innovative and cooperative spirit that will make credit unions a catalyst for improving consumers’ financial lives for years to come.
Credit unions shined throughout the recession and have emerged on the other end stronger than ever. Credit unions had a record 11.5% capital in 2006, the year before the economic crisis started, and we now stand at more than 10.5% and are expected to surpass 11% by year-end.