The NCUA's proposed new capital standards for credit unions over $50M raises capital requirements and requires risk-weighting 10 asset classes.
CUNA, NAFCU and NASCUS criticize proposal, which would require large credit unions to maintain a stress test capital ratio of at least 5%.
National Institute of State Credit Union Examination elects board members.
Agency says more than 2,000 credit unions now carry low income designation.
Whatcom Educational CU volunteers to go first. "We have so many auditors looking at us anyway, what's one more?"
In mid-October, Whatcom Educational Credit Union in Bellingham, Wash., will undergo one of the Evergreen State’s first separate examinations for consumer compliance, now required of all Washington state chartered credit unions with more than $500 million in assets.
Despite receiving a Herb Wegner Lifetime Achievement Award for a career at one of the country’s largest credit unions, Gary Oakland said he most vividly remembers working with small credit unions and supporting the financial education program BizKid$.
John Kolhoff, director of the Michigan Office of Credit Unions, has been elected chairman of NASCUS, the association said Monday.
BECU General Counsel Parker Cann receives Pierre Jay Award at trade group's Idaho confab.
In taking steps to provide federal credit unions with derivatives authority as an additional tool to manage interest rate risk on the balance sheet, the NCUA demonstrated flexible thinking in evaluating its rules. That is to be commended.