Regulatory & Compliance

Almost every day, credit union representatives ask me to keep the NCUA's assessments low.

A Supreme Court nomination and energy legislation are taking center stage in the Senate this week, thus putting a job creation bill on the back burner.

NCUA policymakers provided a few more clues into conservatorship procedures in the wake of industry concern over when and how purchase and assumption deals are arranged with bidders for involuntary mergers.

Saying that it is "minimally capitalized and there are no reasonable prospects for the credit union to achieve adequate capitalization," the NCUA today announced it was liquidating Kappa Alpha Psi FCU.

Effective Saturday, July 31, the $323 million Vons Employees Federal Credit Union acquired the troubled $36 million Certified Federal Credit Union, which plunged to -17% net worth as of June 30.

Some industry sources are privately pointing to the weekend conservatorship of the $139 million Family first FCU of Orem, Utah as signaling perhaps a new NCUA policy of protecting the NCUSIF as it bypassed big CUs as a merger suitor.