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

Washington
FOM mergers focus of CUNA working groups
WASHINGTON (1/26/10)--The Credit Union National Association (CUNA) has formed a pair of working groups to examine the National Credit Union Administration’s (NCUA) merger practices and recent proposals to alter charter application and field of membership expansion rules for community federal credit unions. The two working groups are still in the process of being assembled and will be comprised of members of existing CUNA committees or subcommittees. The NCUA’s field of membership proposal, which was released at the Dec. board meeting and is out for comment until March 1, would set objective and quantifiable criteria to determine the existence of a well-defined local community (WDLC) for areas that encompass multiple group areas. A new, objective definition for rural districts has also been proposed. The field of membership working group will examine proposed changes to how the NCUA defines the term community for multiple jurisdictional criteria and will also scrutinize the NCUA’s proposed redefinition of what constitutes a so-called “rural area.” The task force, composed of members of CUNA's Community Credit Union Committee and Federal Credit Union Subcommittee, will also review NCUA’s criteria for determining underserved areas. A number of credit unions have raised concerns about the regulatory process for voluntary and involuntary mergers, and the CUNA merger working group will examine those concerns and develop recommendations for improvements to those processes. The working group is drawn from CUNA's Examination and Supervision Subcommittee.The field of membership group will hold conference calls both later this month and in Feb. CUNA will accept credit union comment on the NCUA’s field of membership proposal until Feb. 10.


RSS





print
News Now LiveWire
April is #NationalFinancialLiteracyMonth & @TheNCUA Chair Matz urges #creditunions to help members learn to manage/protect their finances.
1 hour ago
Fed. FI regulators' statmnts on compromised credentials/destructive malware #cybersecurity http://t.co/f4uTBDm1PU http://t.co/zP5Iw6VxZc
2 hours ago
Home prices rising faster than wages: @RealtyTrac #NewsNow #Market http://t.co/wa74mnw3Cu
4 hours ago
.@Nussle dropped by the @ACUMuseum recently. Read about his visit http://t.co/bYe8RRgYLP
4 hours ago
.@PCISSC issues new pen test guidelines for businesses to identify network vulnerabilities @CUinfosecurity http://t.co/ENeGTPSMjf
6 hours ago