Stephen Bentley, president/CEO of the $18 million Upper Valley Credit Union, said he doesn't feel he has less representation among trade associations and elected officials because he runs a small shop.
"Everybody has had ample opportunity to weigh in on the [corporate stabilization]," he said. "We're all able to submit ANPR comments, and we're all able to contact our associations and elected officials to relay our feelings; so, certainly, credit unions of all sizes have had the opportunity to be heard."
However, the New Hampshire credit union executive said he has doubts the NCUA is taking suggestions from credit unions of any asset class seriously.
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"I appears to me they have their own agenda, and I don't necessary agree with their valuation methods," Bentley said. "Before Congress approves a loan from the Treasury, they need to question and scrutinize the NCUA in regard to their methodology."
Bentley said he suspects "political ramifications people aren't necessarily aware of" are influencing the agency's actions. Fear of regulatory agency consolidation, pending bankruptcy legislation, and other political issues are complicating efforts to stabilize the corporate system, he said.
Upper
Valley
wrote off 100% of the NCUSIF premium and impairment charges during the 1st quarter, which drops the credit union down to 5.99% capital.
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