WASHINGTON (3/8/13)--A proposed rule addressing federal credit union ownership of fixed assets and a community charter conversion request are all that will be addressed during another brief National Credit Union Administration open board meeting March 14.
Credit union fixed asset regulations (Sec. 701.36) were one of many items on the agency's regulatory review schedule, which was released last year. The agency last addressed Sec. 701.36 in May of 2012, when the agency approved the elimination of the Reg Flex designation program.
The community charter conversion request that will be heard at the meeting was filed by Cinfed FCU, Cincinnati, Ohio. Cinfed requested a community charter change in 2007, but that bid was denied by regional NCUA regulators. The agency upheld the regional office decision following a Cinfed appeal.
This month's NCUA open meeting is scheduled to begin at 10 a.m. ET on March 14.
The NCUA's closed session, which will follow the open meeting, will feature three items. Those items are:
- A purchase and assumption request;
- A merger request; and
- Requests under Section 205(d) of the Federal Credit Union Act.
For the full NCUA agenda, use the resource link.