News

NCUA is reviewing 5300 call reports, and any significant increases in member business lending, indirect lending, or loan participation delinquencies will result in an unscheduled visit from an examiner.

The newly-merged, $1.5 billion Lake Trust Credit Union of Lansing, Mich. looks to get permanent signage ready by July 1, complete data processing conversion by year-end and is hoping a 3.99% teaser loan rate builds some auto loan volume.

NCUA Chairman Debbie Matz said she fully recognizes the legitimate anger many feel as a result of corporate credit union losses. Many blame the NCUA, particularly at seized U.S. Central FCU and Western Corporate FCU, where two examiners worked on-site.

Even after NCUA announces its plan to dispose of $50 billion worth of toxic corporate assets, NCUA Chairman Debbie Matz said natural person credit unions must still make tough choices regarding the future of the corporate system.

NCUA Chairman Debbie Matz told 800 Texas Credit Union League members yesterday she's dedicated 20 "top staff" to developing a plan to dispose of $50 billion worth of corporate toxic assets.

The NCUA was named receiver/liquidator of South End Mutual Benefit Association in Connecticut after the state decided to close the state-chartered credit union, which had $2.4 million in assets.