NCUA has a bias against small credit unions, according to the chairman of the National Association of Credit Union Chairmen.
The discrimination against CUs under $500 million is showing up repeatedly on agency exams as demands increase for higher loan allowances on the balance sheet, contends John Steck, chairman of the $160 million Utah Central CU of Salt Lake City.
The NACUC head argues that larger institutions fare better in ALL procedures as "there's a new crop of young auditors now who are demanding perfectly well-performing credit unions have to increase allowances," a development that depletes capital and puts CUs in a precarious position.
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