Credit unions can be forthcoming and disclose a great deal abouttheir financial condition in ways other than releasing CAMEL ratings, said Bill Brooks, a former creditunion CEO and NCUA examiner.
|“Releasing the number could cause a run on the credit union, andcredit unions are already required to release a great deal offinancial information every quarter. There are better ways to getinformation out to your members. Releasing the rating isn'ttransparent, it's stupid,'' said Brooks, a former CEO of Government Printing Office FCU andLafayette FCU and currently a consultant and wealth manager inDelaware.
|The debate over the release of CAMEL ratings release hasreceived considerable attention recently because of the NCUA'sdecision to no longer do joint examinations with North Carolina regulatorsafter the state authorized State Employees' Credit Union to releaseits rating last year.
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