After two months, three outside consultants and about $1 millionin consulting fees, the $29.1 billion State Employees' Credit Unionin Raleigh, N.C., said it is ready for the rigors of NCUA-mandatedstress testing.
SECU, one of five credit unions with more than $10 million inassets required by the NCUA to undergo stress testing similar tothat applied to banks, undertook its own testing to createbenchmarks against which the regulator's test can be measured.
SECU's results follow on the heels of the Nov. 21 deadline forsubmitting financial information to the NCUA to be measured againstthree prospective scenarios to see how well the credit union wouldwithstand economic shocks to its system.
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