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

Washington
CUNA supports NCUA appropriations requests
WASHINGTON (5/20/09)—The Credit Union National Association on May 19 declared its support for the National Credit Union Administration’s (NCUA) request for continued authority to allow the Central Liquidity Facility (CLF) to lend to its statutory cap of $41 billion. In a letter sent to ranking House Financial Services Subcommittee members Jose Serrano (D-N.Y.) and Jo Ann Emerson (R-Mo.), CUNA also asked the reps. to consider allowing the CLF to lend directly to corporate credit unions. Committee members should also “consider ways to make the CLF a more efficient liquidity tool for corporate credit unions,” the letter added. CUNA also suggested that legislators expand the use of Community Development Revolving Loan Funds (CDRLF) by asking NCUA to allow smaller community development credit unions to use these funds as secondary capital. Such a move would allow these credit unions to absorb the costs of National Credit Union Share Insurance Fund replenishment while continuing to provide much needed services to their members. The CDRLF provides grants and low-interest loans to designated low-income credit unions. NCUA and the National Federation of Community Development Credit Unions should be able to allow the use of CDRLF funds as secondary capital without harming the “safety and soundness” of related institutions or “unduly constraining the operations of this important group of credit unions,” CUNA said. NCUA should also be granted $1 million in CDRLF funding, the letter added.


RSS





print
News Now LiveWire
A recent report from @TransUnion says consumers born 1981 or later made up 27% of total auto-loan originations in 2014, up 16% from 2009.
2 hours ago
.@CUNA says new House bill is "further evidence" of lawmakers' interest in how @TheNCUA uses its funds from CUs. See News Now Monday.
21 hours ago
.@MECreditUnions announces winner of @YoungFreeME #SoundOff contest. @Sassquatch_Band will play Old Port Festival in June @PDD_Downtown
1 day ago
House Financial Services Com. to hold March 3 hearing to receive the semi-annual report of @CFPB Director Richard Cordray.
1 day ago
Rep. Jeff Miller (R-Fla.) re-introduced bill to ease veterans' access to loans for #smallbusiness purposes from a #creditunion (HR 1133)
1 day ago