WASHINGTON — A leading credit union consultant has called for greater industry unity on the question of alternative sources of capital, remarking that the Credit Union Regulatory Improvements Act doesn't address the fundamental capital problem.

Speaking to participants of an Aug. 13 Web event sponsored by Callahan & Associates, Callahan CEO Chip Filson observed that CURIA's risk based capital proposal would change the formula NCUA uses for capital standards and build in more flexibility, but would not provide any further sources of capital.

"A well capitalized credit union would have to maintain a leverage net worth ratio of 5.25% and risk based ratio of 10%," Filson said, arguing that risk weighting the denominator in the net worth ratio calculation does not affect the overall capital amount.