WASHINGTON — Cognizant of its far-reaching–and now costly–plan to rescue corporates though NCUSIF assessments, NCUA Tuesday appeared ready to defend its “corporate stabilization” package through an ongoing series of meetings and Webinars with trade groups and lawmakers.
In many cases, NCUA regional directors have been dispatched across the U.S. to meet with CEOs and others to fend off criticism of the agency’s Jan. 30 proposal contained in a 60-day “Advanced Notice for Proposed Rule” aimed at recapitalizing deeply troubled U.S. Central.
“We knew in advance that this was a big event requiring a special national effort and strategy,” declared John E. Kutchey, acting director of NCUA’s Office of Examination and Insurance in detailing the agency’s informational rollout.
So far there have been three scheduled CU Webinars with NCUA brass as participants including a Callahan Associates session last Friday, a “free” CUNA-sponsored 90-minute Q&A on Wednesday and another slated by NAFCU.
During the coming weeks, NCUA regional directors are slated to field questions from worried and angry CEOs at various league-sponsored meetings. One by the Washington State Credit Union League was set for this Friday in Olympia during its annual GAC conference with Region V Director Melinda Love while the Maryland/DC Credit Union Association said it has a Feb. 12 informational session with NCUA Region II Director Jane Walters.
Kutchey, a participant in the Callahan Webinar, said the agency leadership realizes the “magnitude” of its action and hopes to convey “an understanding of its impact.”