NCUA Announces Consulting Recipients
An $87,000 credit union is among the 179 small credit unions to which the NCUA will offer consulting services during the second half of 2014, the agency announced Monday.
The NCUA’s Office of Small Credit Union Initiatives is conducting the effort, the agency said. OSCUI economic development specialists help the credit unions improve their budgeting, marketing, policy development, strategic planning, operations and regulatory compliance, the agency explained.
Credit unions eligible for the NCUA’s consulting help included those with fewer than $50 million in assets as well as those that had been chartered for fewer than 10 years, had been designated as low income credit unions or as minority depository institutions.
Several of this semester’s participating credit unions have more than $100 million in assets and 21% are minority depository credit unions, the agency added.
“OSCUI’s consulting program is a valuable part of our efforts to help credit unions succeed in a changing economic environment and provide needed services to their members,” NCUA Board Chairman Debbie Matz said.
“Consultants help credit unions think strategically, develop plans and position themselves for future success,” she added.