The suit challenges the NCUA’s authority to interpret and issue rulemakings on field of membership broadly granted by Congress in the late-90s.
Effective January, the guidance was sought by the CUNA-League system. The significant news for credit unions represents the latest component of the agency’s online Examiner Guide.
In setting the tone for the next three years, NWCUA President and CEO Troy Stang challenged Northwest credit union leaders to continue to grow the Movement and reach toward 75% market share by 2025.
The U.S. Treasury grant supports CDFI investment and revitalization activity, with Trailhead taking special focus on bringing more affordable credit to micro-businesses and consumers in inner-Portland.
This follows earlier action by CUNA—supported by NWCUA—to back credit unions’ interests.
Called a “publicity stunt” by CUNA CEO Jim Nussle, the lawsuit was filed Wednesday by the Independent Community Bankers of America challenging the NCUA’s revised MBL rule.
Focusing on helping credit unions collaborate and utilize best practices in providing commercial services to members, the first meeting is August 10.
The twice-yearly trip shows advocacy in action, allowing credit unions face time with legislators and regulators.
Under certain circumstances, credit unions may now make member business loans without requiring a personal guarantee.
Seattle Metropolitan Credit Union was named a finalist for FinXTech “Best of FinXTech” awards in March. Erica Erdozain, Vice President of Commercial Lending, represented SMCU in New York City at the event, which recognized the credit union’s work in streamlining its commercial lending processes.
The National Credit Union Administration has approved a modernized Member Business Lending rule giving federally insured credit unions greater flexibility.
The bill would raise the cap on member business lending to 27.5% of a credit union’s assets, opening billions in capital for small businesses.
The proposal would remove or modify a number of prescriptive limitations to member business lending, opting for a principle-based approach. It would also do away with the 12.25 percent of assets limit, in favor of a net worth ratio.
The bill fixes a disparity in how certain real estate loans are classified, allowing credit unions to provide more capital to the small businesses that create jobs and fuel growth in our communities.
Higher cap would create 140,000 new jobs and $13 billion in new business lending, estimates CUNA.
An article in the Wall Street Journal is drawing fire within the credit union movement. The publication quoted NCUA Chair Debbie Matz sharing concerns about credit unions’ interest rate risk management.
U.S. Rep. Suzan DelBene will become the second member of the Washington delegation to co-sponsor the Credit Union Small Business Job Creation Act when Congress reconvenes in the nation’s capital next week.
Northwest credit unions grew their member business lending category 7.5% in Q1. Still, more than 500 credit unions nationally are at or nearing the 12.25% Congressionally-imposed lending cap. Meanwhile, the nation’s largest banks, facing fewer regulatory limits, hold onto the lion’s share of the market.