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12 recommendations from NCUA Outreach Task Force
ALEXANDRIA, Va. (2/27/08)—-The National Credit Union Administration’s (NCUA) Outreach Task Force provided to the NCUA board twelve recommendations yesterday: Membership Profile and Financial Services
* Collect membership profile data through the AIRES examination process; * Collect financial services data on the 5300 Call Report; * Publish aggregate data on membership profile and financial services in the NCUA Annual Report or other publication(s); and * Develop a means for each FCU to obtain its proprietary membership profile data from NCUA.
Senior Executive Officer Compensation
* Collect FCU and federal corporate credit union senior executive officer compensation during the examination, and then use AIRES and the Corporate Examination Database to capture the information; * Publish aggregate data on senior executive officer compensation in the Annual Report or other NCUA publication(s); and * Promulgate a regulation requiring federal credit unions and federal corporate credit unions to annually disclose individual senior executive officer compensation to their members.
Low-Income Definition
* Revise NCUA Rules and Regulations to replace MHI with MFI as one of the standards for qualifying a credit union as low income; and * Include a grandfather provision of five years to allow adequate transition time for any low-income credit union failing to qualify under the MFI standard.
Outreach
* Expand its outreach program(s) to include a broader spectrum of credit unions serving, or having the ability to serve, members of low or moderate income; * Emphasize increased regional involvement in the implementation of outreach policies; and * Improve its oversight of Community Development Revolving Loan Fund programs.
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