Field of membership (FOM) was the focus of a credit union meeting with NCUA Vice Chairman Kyle Hauptman on Monday. America’s Credit Unions’ Andrew Morris and a group of credit unions met with the vice chair, sharing stories of their efforts to add underserved areas to their FOM, current challenges at hand, and potential ways …
Credit unions meet with NCUA vice chair on FOM opportunities Read More »
Median assets, shares, and deposits in federally insured credit unions declined during the year ending in the first quarter of 2024. At the same time, both median loans outstanding and delinquencies increased. This is according to the latest Quarterly U.S. Map Review released by the NCUA. While median aggregate assets and shares and deposits in …
NCUA releases Q1 2024 state-level credit union data report Read More »
Registration is still open for the NCUA’s Diversity, Equity, and Inclusion (DEI) Summit, set for July 9-11 in Minneapolis. A full breakdown of the event agenda is on the agency’s website. The theme of this year’s summit is “DEI: Here to Stay.” Attendees will explore the value proposition of DEI – both in the credit …
The NCUA’s Office of Financial Technology and Access announced office hours where credit union representatives, financial technology companies, and credit union associations can schedule time to speak about financial technology with representatives from the agency’s fintech and credit union programs. The NCUA notes that potential topic areas of discussion may include, but are not limited …
NCUA Office of Financial Technology and Access establishes office hours Read More »
Low-income-designated credit unions have until July 1 to apply for 2024 Community Development Revolving Loan Fund (CDRLF) grants. The NCUA will administer more than $3.4 million in CDRLF grants to the most-qualified applicants, subject to the availability of funds. Eligibility and award categories information is available here, and credit unions with questions about the grants …
Reminder: 2024 CDRLF grant round application period ends July 1 Read More »
Total assets in federally insured credit unions rose by $96 billion, or 4.4%, over the year ending in the first quarter of 2024 to $2.31 trillion, according to the latest financial performance data released by the NCUA. Total loans outstanding increased $71 billion, or 4.6%, to $1.60 trillion during the same period. Insured shares and …
NCUA releases 1Q credit union system performance data Read More »
In an op-ed for CUInsight, America’s Credit Unions Chief Advocacy Officer Carrie Hunt expressed that the NCUA “has peddled party-line policies, gotten overly involved in consumer protection, and placed more regulatory burden on credit unions.” She called on the agency to “return to its roots and be an independent regulator.” Hunt noted regulators, including the CFPB …
Hunt calls for independent NCUA regulation in latest op-ed Read More »
The NCUA announced several events and activities that are scheduled over the course of June in recognition of Minority Depository Institution (MDI) Awareness Month to highlight the essential role MDIs play in their communities. The activities include: Learn more about MDI Awareness Month.
Comments on several regulatory proposals affecting credit unions are due in the coming weeks, including to NCUA on records preservation, and the agency’s annual regulatory review: June 3: June 28: July 15:
The NCUA has added a new financial technology and digital assets section to its website. The webpage includes frequently asked questions (FAQs) about share insurance coverage and custody for cryptocurrencies and digital assets, as well as information about the agency’s Financial Technology Team. Of note, the FAQs clarify that the National Credit Union Share Insurance …
NCUA issues FAQs on share insurance coverage for cryptocurrency Read More »
