WASHINGTON -- NCUA Vice Chairman Rodney Hood has been emphasizing with credit unions that though he does not see it a systemic problem for credit unions, he would like to hold a risk mitigation summit for credit unions to share ideas and get creative juices flowing.

The Vice Chairman's Risk Mitigation Summit will be held Thursday, Jan. 11, 2007, at the U.S. Chamber of Commerce in Washington, D.C. Leaders from Treasury, the Federal Reserve System, corporate credit unions, and others from the financial services community are expected to attend to discuss the latest trends in risk management and analysis.

In that same vein, Hood also encouraged attendees of NAFCU's Congressional Caucus last week (see caucus coverage on pages 26-30) to raise the issue of implementing a risk-based capital structure for credit unions. The plan would permit many credit unions to lower their current capital levels and remain safe and sound while allowing for greater service to members by using that capital for branches, ATMs and services, he said.