The NCUA is expected to issue four final rules on Thursday, including changes to the asset threshold that defines small credit unions, an increased response time for accepting the LICU designation and other technical changes.
Credit unions are known for working cooperatively to better the entire movement. CUNA Mutual Group tapped into that strength by forming the Select Credit Union Council, bringing together forward-thinking leaders to address the unique challenges facing small and mid-size credit unions.
A credit union MBL helped a family-owned radio station group grow its reach in the Longview-Kelso market. In a highly competitive industry, the stations own the entertainment, information and community connection categories in their community.
Responding to rules proposed by the NCUA in September, NWCUA Board Chair Debie Keesee and BECU’s Parker Cann urged the NCUA to consider a higher asset threshold in defining small credit unions, while Pacific Crest’s Kathie Philp suggested an alternative definition for rural district.
“We will continue to share the credit union difference with our legislators until our bill receives a vote, and we are confident that we will have the support we need when that time comes,” said NWCUA Director of Legislative Advocacy Jennifer Wagner, who is on Capitol Hill with a group of Northwest credit union advocates this week.
After difficulty securing financing through banks, Jessica and Mike Huey turned to a local credit union for an MBL that allowed their business to increase its visibility and improve its economic footing.
The NCUA has extended the deadline for comments for the proposed rule defining small credit unions after receiving only one comment during the initial 30-day comment period.
Fortune magazine yesterday announced that STCU is one of America’s great places to work, ranking 16th nationally among medium-sized companies on the magazine’s “Great Place to Work: Best Small & Medium Workplaces” list.
Since the Affordable Care Act took effect in 2010, many small employers have been eligible for a health care tax credit created as part of the bill. One of the few Northwest credit unions to take advantage of the program received a check from the IRS for almost $7,000 for the 2011 tax year.
The NCUA board of directors unanimously approved four regulatory relief items at its Sept. 20 open meeting, adopting three proposed rules and an Advance Notice of Proposed Rulemaking.
As part of this morning’s NCUA board meeting, the agency proposed changing the definition of a “small credit union” to include those with up to $30 million in assets, up from the $10 million threshold established in 2003.
As Northwest credit unions join counterparts from other states for a fall Hike the Hill event, Oregon Rep. Earl Blumenauer addressed Congress in support of MBL legislation.
The NWCUA is holding a Small to Mid-Size Credit Union CEO Roundtable in Portland on Sept. 14, one day before a free NCUA Credit Union Workshop geared toward small credit unions.
The NCUA will issue $1.4 million in CDRLF grants to more than 100 small credit unions. NCUA OSCUI Director William Myers said the NCUA saw 77-percent more applications after “a concerted effort this year to make it easier to apply for these grants.”
Strategic Link business partner CSCU is offering a free webcast on Tuesday, Aug. 14, entitled, “Five Strategies to Grow Your Business Card Portfolio.” The webcast will help credit unions attract small-business members and improve profitability.
The NCUA confirmed that credit unions with less than $10 billion in assets will see their examination hours reduced after the Office of National Examinations and Supervision becomes operational on Jan. 1, 2013.
Small, well-run credit unions will see less of Federal examiners starting in 2013 as the NCUA reallocates resources to focus on the largest credit unions.
Under the NCUA’s new Small Credit Union Examination Program, small credit unions that are financially and operationally sound will have shorter examinations and more concise reports, a move intended to align resources more closely with risks.