Retirements, promotions in and around credit unions in the year now past.
ALEXANDRIA, Va. — The NCUA giveth and the NCUA taketh away. At its Dec. 15 meeting the agency’s board proposed placing more restrictions on loan participations while granting credit unions greater flexibility in other areas.
Saying that it failed to disclose the risks to two now-defunct corporate credit unions, the NCUA is suing the company formerly known as Wachovia Securities.
Credit unions should set aside between 8 and 11 basis points for next year’s assessment to pay for the corporate credit union rescue, NCUA Chairman Debbie Matz advised last week.
John Kutchey to succeed Melinda Love, moving from E&I to COO/deputy executive director.
NCUA examiners didn’t follow up on many documents of resolution and as a result gave better CAMEL ratings to some credit unions than they deserved, according to a report by the agency’s Office of Inspector General.
One quarter of the unresolved items related to management issues.
ALEXANDRIA, Va. — If current financial trends continue, the NCUSIF's equity ratio will likely end the year at between 1.28% and 1.32%, which could mean a lower assessment to pay for the corporate credit union rescue, NCUA Chief Financial Officer Mary Ann Woodson told the agency's board last Thursday.
ALEXANDRIA, Va. — The NCUA Board on Thursday approved a rule allowing assistance to a troubled credit union or a credit union acquiring a troubled credit union to count as regulatory net worth.
ALEXANDRIA, Va. — CUSOs would have to submit financial reports to the NCUA and there would be limits on the investments certain credit unions can make in CUSOs, according to a proposed rule the NCUA sent out for comment on July 21.