Credit Union Management

At press time, the House Financial Services Committee was close to passing a bill extending the National Flood Insurance Program for five years and three bills to make changes to the structure of the Bureau of Consumer Financial Protection.

GREENBELT, Md. — Saying that the NCUA and other regulators are marching toward “regulatory extremism,” the leader of a movement aimed at pressuring Congress to make changes to the NCUA outlined the extent of his frustrations with the status quo.

A system upgrade at the $1.5 billion Kern Schools Federal Credit Union caused frustration for members who said they could neither access their accounts nor reach anyone for help.

The NCUA and Vensure FCU continue to slug it out in court. The NCUA contends Vensure had long questionable history. Vensure counter charged that NCUA conserved it out of embarrassment.

NCUA Inspector General says poor investment decisions by executives and volunteers and inadequate oversight by the NCUA were the key factors in the heavy losses at Members United Corporate Credit Union.

The initial predictions that branches would no longer be relevant surfaced around the time ATMs were first deployed in the early 1970s. Despite numerous predictions since then, branches continue to be an essential element of delivery strategy.