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NEW ORLEANS – In a speech before the 27th annual meeting of the National Federation of Community Development Credit Unions (NFCDCU), acting NCUA Chairman Dennis Dollar emphasized that the agency is looking for ways to better serve small and low-income credit unions through its Office of Credit Union Development. After renaming the office and restructuring it last month so that the director was a career employee, Dollar said the NCUA is exploring additional options to assist access to technical and training support to small and low-income credit unions through the Office of Credit Union Development and its region-based Small Credit Union Program. The department’s name was the Office of Community Development Credit Unions until last month, and long-time NCUA employee Anthony LaCreta was named its permanent director. Previously, the director’s position was by political appointment. Dollar stressed that all three board members were involved and excited about the office’s transformation. Board Member Yolanda Wheat had pushed to make the director position permanent to create stability for the office and the credit unions that depend on it. Board Member Geoff Bacino led the charge in renaming the office to better describe its functions, according to Dollar. Dollar announced that the agency was exploring additional options to provide access to technical and training support for small and low-income credit unions. Helping these credit unions compete may reduce the need for payday and title lenders, he said. “These opportunities may include an increase in training funds which could allow many credit unions to become engaged in the latest innovations in member service, technology, and managing a financially sound institution,” Dollar said. Dollar placed added emphasis on faith-based credit unions. In April of this year, Dollar announced that he would explore ways to lighten the regulatory load on faith-based credit unions so they can more effectively serve their membership, particularly the low-income segments. He emphasized that faith-based credit unions play a “natural role” in their communities. His Reg-Flex proposal is all a part of this, Dollar said. In fact, he explained that 3,900 of the more than 7,000 federal credit unions would be eligible for regulatory relief under Reg-Flex. Small credit unions, those with less than $10 million in assets, make up more than 55% of the Reg-Flex eligible credit unions. [email protected]

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