ALEXANDRIA, Va. (10/21/13)--Potential risk-based net worth requirements, containing corporate stabilization fund assessments and general agency budget issues were on the agenda when the Credit Union National Association met with new National Credit Union Administration board member Richard Metsger on Friday.
CUNA President/CEO Bill Cheney said the discussions were candid and productive. "We are confident that board member Metsger will ensure that credit unions' concerns will be fully considered, as well as reasonable agency safety and soundness needs when the board makes policy decisions," he added.
CUNA staff at the meeting included Cheney, General Counsel Eric Richard, Deputy General Counsel Mary Dunn, and Executive Vice President for Strategic Communications Paul Gentile. Also in the meeting was NCUA Deputy Director of Examinations and Insurance Dave Shetler, who is acting as Metsger's advisor on a temporary basis until a candidate is selected to fill the position permanently.
Other meeting topics included:
Minimizing oversight of credit union service organizations;
Emergency liquidity resources;
Examination and appeals process issues;
The agency's proposal on derivatives; and
NCUA's proposal on charitable donation accounts.
CUNA is pursuing all of these issues and others with the agency to point out concerns and seek improvements to benefit credit unions without undermining safety and soundness. CUNA will continue to advance recommendations to the agency on all of these issues, CUNA's Dunn said after the Friday meeting.