Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
NCUA examiners discuss key rules with Michigan league
LANSING, Mich. (4/27/09)--Michigan Credit Union League (MCUL) representatives and MCUL regulatory affairs staff met with National Credit Union Administration (NCUA) supervisory examiners April 14 at MCUL’s Lansing headquarters to discuss regulatory areas--loan losses, collection practices, investment policies, mergers and the examination process. “One of the concerns raised by the league during this meeting was the unique and often challenging economic climate of individual communities in Michigan, and how this might affect the examination process,” said MCUL Executive Vice President Patrick La Pine (Michigan Monitor April 20). “The examiners noted that NCUA is aware of local economic conditions, and if a credit union's financial strength, management and strategic plan are sound, this can result in more flexibility when that credit union is facing a tough local economy,” he added. The regulators reported an increase in loan losses since the last time the two parties met in fall of 2008, but the credit union “watch list” continues to remain short. The loan losses appeared to reflect situations in which a credit union was not adhering to its underwriting standards--more so than functions of where the credit union was doing business. For indirect auto lending--which has seen an uptick in volume at some credit unions-- losses resulted from the purchase of low-quality loans; and for member business loans, a relaxation of credit standards was typically the cause followed by inadequate monitoring of loan performance. MCUL staff meets twice a year with senior staff from NCUA and the Michigan Office of Financial and Insurance Regulation to discuss trends, issues of concern and ways MCUL can use its resources to head off negative practices and otherwise assist in problem resolution.


RSS





print
News Now LiveWire
Cheney, La Pine, Middleman join @NCUFoundation board #NewsNow http://t.co/4C14PZpFf5
1 hours ago
Happy holidays! Here's your gift-report of another data breach: Staples between April and Sept, 1.16M cards at risk http://t.co/jDhJCkf3LC
1 hours ago
Maine credit unions put Food Mobile on the road to relieving hunger in rural areas http://t.co/R0xpt6BAZE
17 hours ago
.@TheNCUA's Matz: PALS should be exempt from Military Lending Act proposal #NewsNow http://t.co/Vy9uNhOIEr
18 hours ago
#NewsNow Iowa loan growth 3 times national bank rate http://t.co/fUvudPLg5d
20 hours ago