Hyland Addresses Key CU Issues of the Day at MDDCCUA Meeting

ALEXANDRIA, Va. — Hot button issues like measuring service to those of modest means and conversions to mutual savings banks were not off-limits during NCUA Board Member Gigi Hyland’s recent talk at the D.C. Chapter of the Maryland & District of Columbia Credit Union Association meeting. Hyland emphasized the importance of credit unions participating in the town hall meetings set up to glean information from credit unions for the Outreach Task Force that is considering the recommendations of NCUA’s Member Service Assessment Pilot Program and the Government Accountability Office report. “I welcome all input from credit unions and others which will help the Task Force achieve its objectives,” she said. “I will be holding a series of town hall meetings which will engage credit unions across the nation to work together with the task force.”

Hyland also discussed the December revisions to the conversion rule. “From NCUA’s standpoint, the revision is essentially an issue of consumer protection,” she stated. “If you believe in credit unions, you believe members have a right to decide what financial institution is best for them. Full disclosure and information are key elements of that decision making process.”