ncua

NCUA board to vote on succession planning, compensation proposals

The NCUA board will vote on succession planning and incentive-based compensation arrangement proposed rules at its July 18 board meeting. The agenda also lists an item on the federal credit union loan interest rate ceiling. America’s Credit Unions’ legacy organizations have called on NCUA to raise the interest rate ceiling in recent years, and supported …

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Salem talks state of credit union DEI at NCUA summit

NCUA kicked off its third annual Diversity, Equity, and Inclusion (DEI) Summit Wednesday in Minneapolis. America’s Credit Unions Vice President of DEI Samira Salem presented Wednesday afternoon on the state of DEI in the credit union industry. Salem presented an issue brief with results from a recent America’s Credit Unions survey on where credit union …

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NCUA extends CDRLF grant deadline to July 12

The NCUA has extended the deadline for applying for 2024 Community Development Revolving Loan Fund (CDRLF) grants to July 12. The agency will administer more than $3.4 million in CDRLF grants to the most-qualified applicants, subject to the availability of funds. The grants page on the NCUA’s website has all the necessary information for submitting …

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NCUA rulemakings should come only when warranted based on ‘compelling need’

The NCUA should only promulgate new rules or expand existing rules if they are “clearly warranted based on a compelling need,” America’s Credit Unions Regulatory Advocacy Senior Counsel Luke Martone wrote to the agency Friday. The comments were sent in response to NCUA’s annual review of one-third of its regulations. America’s Credit Unions continues to …

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NCUA releases cybersecurity, credit union system resilience report

NCUA released its annual Cybersecurity and Credit Union System Resilience Report Monday, summarizing the current cybersecurity threat landscape, highlights the agency’s key cybersecurity initiatives, and outlines the agency’s ongoing efforts to enhance cybersecurity preparedness and resilience within the credit union industry. The Cybersecurity and Credit Union Resilience Report is required by the Consolidated Appropriations Act …

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Credit unions meet with NCUA vice chair on FOM opportunities

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 …

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NCUA releases Q1 2024 state-level credit union data report

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 …

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NCUA Office of Financial Technology and Access establishes office hours 

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 …

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Reminder: 2024 CDRLF grant round application period ends July 1

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 …

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