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CUs and the economy Webinars by CUNA
WASHINGTON (3/25/08)—The Credit Union National Association (CUNA) is developing a series of webinars to help credit unions understand the impact to their operations from the current turn in the nation’s economy. CUNA will launch its series of live informational sessions in April. The first webinar will present an overview of current and prospective economic factors. Subsequent sessions, likely to be offered on a weekly basis, will address more specific topics, such as the effects of economic conditions on consumer lending, mortgage lending, and examination issues. CUNA Chief Economist Bill Hampel, announcing the webinar plan Monday, noted that the current turn in the economy is having “a significant impact” on credit union operations. CUNA Deputy General Counsel Mary Dunn added that CUNA is also meeting with National Credit Union Administration (NCUA) board members and senior staff encouraging the agency to provide more guidance to credit unions. Specifically, CUNA is seeking clarification on the parameters of what a credit union can do to help with troubled mortgages. Hampel noted a 2006 NCUA letter assuring federal credit unions that it is not necessary to reach a 1% return on assets (ROA) just to achieve the highest CAMEL 1 rating. He added, “In turbulent times like this, the NCUA does have a role to be concerned regarding the share insurance fund. Our job is to remind them that we have members to worry about.” Further details on the webinars will be reported in News Now as available.


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