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NCUA Views

How NCUA’s Corporate Actions Affect the Three Pillars of Our System’s Financial Integrity and Soundness

Submitted by cfilson on October 18, 2010 |

The credit union regulatory structure remains as unique today as it was when it was created. The system was shaped by law and design through continuous and thoughtful evolution from 1970 to 2002. Its three pillars have parallel components in the banking and thrift industries, but the credit union infrastructure is uniquely interwoven compared with those on the banking and thrift side. The pillars are:Read More

Is the NCUA Board Helping — or Hurting — Credit Unions’ Soundness?

Submitted by cfilson on September 20, 2010 |

In his book The Age of Paradox, author Charles Handy wrote: Unbalanced self interest can only lead to an environment in which any victory will mean destroying those on who our survival will ultimately depend… The tragedy of the commons, it was labeled, when individual farmers maximized their own short-term use of the common land only to find, that when everyone did the same, the land deteriorated until all grazing failed.(page 89)Read More

An Eventful Thursday: Focus on the NCUA

Submitted by ekashner on February 19, 2010 |

On Thursday, February 18, the National Credit Union Administration ( NCUA ) held two meeting, both significant in their own right.In the morning, the board met to review the insurance fund report and approve the interim final rule regarding secondary capital.In the afternoon, their Virtual Town Hall meeting concluded the most recent set of town halls to discuss the proposed corporate rule.Here are the results of each, with the important resources you will need to review.Read More

10 Questions for the NCUA Virtual Town Hall

Submitted by cfilson on February 18, 2010 |

NCUA’s Virtual Town Hall Meeting today at 3 PM ET is a good opportunity to have dialogue with the regulator.  To make this exchange effective, credit unions should think about the important questions that would like to see raised.  Otherwise the town hall can just become a “show and tell” presentation with no real learning occurring on either side of the dialogue. Read More

NCUA’s Missing 2008 Annual Report: A Case for Sherlock Holmes or a Court?

Submitted by cfilson on February 3, 2010 |

The federal credit union statute is very clear: “Not later than April 1 of each calendar year, and at such other times as the Congress shall determine, the Board shall make a report to the President and Congress. Such a report shall summarize the operations of the Administration and set forth such information as is necessary for the Congress to review the financial program approved by the Board.”
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Where are NCUA’s “Honest Numbers"?

Submitted by cfilson on February 3, 2010 |

It is almost a year since the NCUA took over WesCorp, asserting that the credit union was not preparing “honest numbers” about its financial situation as of December 2008. The Agency conserved the credit union. As conservator the Agency reclassified all investments as available for sale and gave the auditor, BDO Seidman, the assumptions the Agency wanted used in estimating OTTI losses on those securities. Two months later the Agency got the audited numbers it wanted.Read More

Managing the Legacy (Not Just the Present) at NCUA

Submitted by cfilson on October 22, 2009 |

Leaders of all the organizations within the credit union system are stewards of a mutually endowed legacy.   That legacy includes financial and physical resources, but it also includes the values and promises to each other that were the basis for accumulating the resources in the first place.

Cooperatives depend on this ability to work together for common interest.   If one participant in the system becomes ineffective or dysfunctional then all of the other participants will suffer as well.  This interdependence is at the heart of the cooperative success.Read More

A Missed Opportunity to Tell the Credit Union Story

Submitted by cfilson on October 22, 2009 |

In an October 14, 2009, presentation to the Senate Banking Subcommittee on Financial Institutions, NCUA missed a chance to present the extraordinary results credit unions have achieved during the worst financial crisis of a generation.

The hearing on the state of the banking industry began as Congress is also taking up bills to revamp the regulatory structure. As Senator Tim Johnson, subcommittee chairman stated at the outset: “I don’t think we can do that (reform) without a clear understanding of what is happening with the sector.”Read More

Perspectives on NCUA’s Washington DC Town Hall Meeting

Submitted by cfilson on October 2, 2009 |


More than 200 representatives from credit unions, corporate credit unions, state leagues, and associations participated in the NCUA Town Hall meeting at National Harbor outside Washington, DC, on Wednesday, September 30, 2009. NCUA Chairman Debbie Matz, board members Michael Fryzel and Gigi Hyland, Director of the Office of Corporate Credit Unions Scott Hunt, Deputy Executive Director Larry Fazio, and General Counsel Bob Fennel responded to questions and comments during this second of three scheduled meetings.Read More

Video: Jay Johnson's Statement at the NCUA Town Hall

Submitted by mhand on September 30, 2009 |


Watch and listen to Jay Johnson, of Callahan & Associates, stand up and make a statement concerning the corporate credit union system at a recent NCUA town hall. A low quality version of this video was posted previously. With this version, you can hear him clearly.Read More