Saying credit unions should not be discouraged from accepting deposits for fear of their negative impact on capital, NCUA Chairman Debbie Matz urged Congress to give credit unions more options in accepting outside capital.
Unfortunately, Sarah Snell Cookes Oct. 7 column did not accurately reflect NAFCUs position, the law or regulation in addressing alternative capital that might be provided by members of a credit union.
CUNA and NAFCU have ironed out more differences in their positions and are closer toward coming up with a policy statement on allowing credit unions to seek additional capital.
In a letter sent yesterday to CUNA, NAFCU President Fred Becker agreed to modify his groups alternative capital proposal to allow NCUA assistance to credit unions to be counted as alternative capital.
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