WesCorp Will Not Emerge From Conservatorship as United Resources; Regulator Urges Member Credit Unions to Stay Put Until a Merger is Worked Out
The NCUA has announced that three corporate bridge credit unions did not meet recapitalization goals. WesCorp, US Central and SE Corporate will not emerge as new entities. A number of Northwest credit unions have already been stung by WesCorpâ€™s downfall.
The Federal Housing Administration (FHA) announced this week that the insurance limit in the highest-cost areas of the country will be reduced starting on Oct. 1. Loan limits in most other parts of the nation will remain unchanged.
According to Repo Remarketing, repossessing vehicles forces credit unions to balance providing service to their members against preserving the overall financial health of the credit union. Included here are some in-depth pointers to help credit unions navigate this murky territory.
The NWCUA generates and monitors regulatory movement and change at the state and federal levels. The weekly Regulatory Advocacy Update keeps you informed about just how the Association is working for its membersâ€”and how you can get involved.
The NCUA Board approved the Temporary Credit Union Stabilization Fund at 25 basis points, an assessment estimated to total nearly $2 billion.
NWCUA CEO John Annaloro and President Troy Stang personally visited with credit union leaders throughout Washington and Oregon, giving member CEOs the opportunity to gather information and weigh in on a variety of issues impacting the credit union movement.
This Washington legislative update expands on the Washington State JLARCâ€™s recent recommendation to continue the state-chartered credit union B&O tax exemption.
Gene Pelham will be honored by the Oregon and Washington Credit Union Foundations as the Credit Union Professional of the Year. The Rogue Federal Credit Union CEO emphasizes community service and is known for hands-on involvement and accessibility to employees.
The NCUA has offered guidance to help credit unions comply with a joint interim final rule that addresses garnishment of accounts that include federal benefits payments.
Is a credit union considered a federal contractor for affirmative action purposes when it is authorized to issue savings bonds? And since we will no longer issue savings bonds starting on Jan. 1, 2012, do we still need to have an affirmative action plan?
Gary Tantleff, managing director of investments at The Credit Union Advisory Group at UBS, warns against the dangers of waiting to invest.
The 2011 NWCUA Convention and Annual Business Meeting will include an important session on advocacy training, offering credit union-specific strategies for navigating the modern political climate.