The NCUA is developing guidance for credit unions on employee benefits and the investments that fund them, according Larry Fazio, Director of the Office of Examination and Insurance. Fazio's statement was in response to a question about credit union owned life insurance during in the agency's town hall webinar Tuesday.
The guidance, which Fazio said will be soon be made public, will ensure that federal credit union benefits investments comply with regulatory requirements and are safe and sound.
NCUA Chairman Debbie Matz and senior agency staff answered a number of questions during the hour and a half event that mostly focused on technical questions regarding current and proposed rules.
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