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News Now

Washington
CUNA offers summit for CU response to corporate plan
WASHINGTON (10/14/10)--The Credit Union National Association (CUNA) is coordinating and hosting a summit meeting in the next few weeks, one which will give credit union stakeholders the opportunity to come together as a system to develop a plan for the future of corporate credit unions. In announcing the summit, CUNA President/CEO Bill Cheney noted, “CUNA has been asked by a large number of credit unions and others to help the industry chart a path to the future on these issues.” He pledged that CUNA, working with the credit union system, will do everything within its power to help address questions that have arisen since the National Credit Union Administration (NCUA) approved new corporate credit union and legacy asset rules on Sept. 23. Common questions posed to CUNA include those concerning the future role of corporate credit unions in providing key payments, settlement, liquidity, and investment advisory services to natural person credit unions. The CUNA leader commended other system efforts to work on “various approaches” to these issues. “Even so,” he emphasized, “I think that it will be highly beneficial and productive for the credit union system if such efforts are coordinated, to the extent possible, and are consistent with an overall vision to ensure that all credit unions have access to the operational support services they need.” “There are no more important issues now than how we, together, address corporate credit union services. This is why CUNA will be hosting the summit and continuing our work to pursue solutions not only for the transition period under the new rule but for the future,” Cheney said. News Now will provide summit details as they become available.


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