Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Texas Regulator To Disclose CAMEL Ratings To CUs
AUSTIN, Texas (7/19/13)--Texas state-chartered credit unions will be told what their CAMEL codes are, beginning in September, the Texas Credit Union Department said Wednesday.
 
"[The move] is just a byproduct of the fact that we haven't disclosed CAMEL codes for several years, but the National  Credit Union Administration does [to credit unions]," Robert Baxter, chief examiner for the Texas Credit Union Department, told News Now. "So we thought it was good for credit unions to know where we were coming from.
 
"We are getting credit unions who did not know they were a problem to get on board," he added. "It was time to start changing policies and important for us to be in the driver's seat."
 
The CAMEL rating system is NCUA's method of evaluating the health of credit unions. The rating, adopted by the NCUA in 1987, is based upon five critical elements of a credit union's operations: (C) Capital, (A) Asset quality, (M) Management, (E) Earnings and (L) Asset liability management.
 
"Sharing the CAMEL codes with boards of state-chartered credit unions will benefit Texas credit unions," Suzanne Yashewski, senior vice president and regulatory compliance counsel for the Cornerstone Credit  Union League, told News Now. "CAMEL codes provide the board and management a metric to help monitor critical areas and recognize success."
RSS





print
News Now LiveWire
What role are #creditunions playing in @gatesfoundation's 2030 vision of financial services? Read #NewsNow Monday
11 hours ago
Consumers fear inaccurate info lingers on credit reports, says @FTC study Read @CUNA's News Now: http://t.co/RzNLMnaROO
13 hours ago
@PCUA has formed a @LinkedIn networking group for former bankers turned #creditunion employees.
13 hours ago
.@politico reports Democrats haven't picked the city yet, but their 2016 convention will be held the week of July 25.
13 hours ago
.@cuna, @DCUC_HQ urge @CFPB to exempt #CUs from changes to Military Lending Act rules cuz CUs aren't part of the targeted problem. NN Monday
15 hours ago