NCUA to Host Corporate-Focused Meeting Nov. 5

NCUA Chairman Debbie Matz today scheduled a specially focused meeting for Nov. 5 at 2 p.m. to discuss the status of corporate credit unions' capital accounts and other issues related to corporate credit unions.

Matz extended an invitation to attend the NCUA's meeting to all corporate credit unions and their trade associations while addressing the Association of Corporate Credit Unions Annual Meeting in Dallas today. The NCUA's Alexandria, Va. headquarters will house the Nov. 5 meeting.

Matz commented that "many of you believe that there should be some mechanism within the corporate structure to allow contributed capital accounts to be replenished if losses don't fully materialize as projected. I've gotten the message loud and clear that this is a concern. So I have asked senior NCUA staff to participate with corporates in a special meeting on this issue."

The NCUA's next board meeting is slated for Nov. 19, which is when the board intends to address the proposed rule regarding corporate credit unions.

"The credit union system needs to be the example, not the exception, when it comes to following standards in financial reporting and the application of legal and regulatory requirements," Matz maintained.

Matz has also scheduled a webinar town hall on corporate credit unions for Oct. 22 from 3:00-4:30 p.m. All interested parties can register for the free webinar at the following link: http://event.on24.com/r.htm?e=168645&s=1&k=BB603F89ED6DF99EC86CE7EA27F7E92B.