With the deadline fast approaching for NCUA's data collection pilot, the credit union scene in Washington is abuzz about the potential impact of the results and where to go from here.
The pilot is supposed to shed some kind of light on how well credit unions are serving members of modest means, the underserved, low-income members or however you want to define it. This pilot was in response to congressional pressure that peaked with House Ways and Means Committee Chairman Bill Thomas' hearing on the credit union tax-exemption last November.
Once again NCUA was forced to react to banker attacks as it has had to do a lot in recent years. The pilot on the federal side consists of 481 credit unions. Examiners will review their AIRES loan and share downloads, and will discuss with the credit unions what type of services they provide membership.
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