Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Hood says its prime time to show CU difference
WASHINGTON (3/5/07)—National Credit Union Administration (NCUA) Vice Chairman Rodney Hood Tuesday said the time is ripe for credit unions to demonstrate how different they are from other financial services providers. “Credit unions were not part of the subprime mortgage debacle, I’m proud to report,” Hood said during the general session of the Credit Union National Association’s Governmental Affairs Conference held here. “You’ve placed the needs of members above exotic mortgages,” Hood said, encouraging credit unions to make capital available and affordable “to those who need it most, when they need it most.” Hood also said all credit unions, regardless of size, must adopt enterprise risk management to enhance their balance sheets and remain viable. He announced that the NCUA will host an enterprise risk management summit Aug. 7 in Chicago for smaller credit unions. The NCUA vice chairman also pledged to work the rest of his term to clarify and simplify field of membership (FOM) provisions, declaring that the agency shouldn’t shy away from FOM extensions for community credit unions and underserved areas. In this economic environment, “the risks and challenges are many,” Hood concluded. “So are the opportunities."


RSS print
News Now LiveWire
July 's Fed Bank's "FedFocus" has some interesting articles: incl cost/benefits of $1 currency 2 coin conversion ttp://tinyurl.com/nybmnhh
18 hours ago
Do you wish you were a News Now subscriber? Go here: http://t.co/7evfBSjeMx
18 hours ago
Financial education for student body key part of Altura #creditunion, UC-Riverside partnership #NewsNow http://t.co/Xp6OJd66o6
19 hours ago
.@VTcreditunions gains 200 new FB followers in just 2 wks to reach 1,000 http://t.co/I89xJcv4Jg
20 hours ago
.@CUNA is testifying on reg relief Tues,July 15 at 2 p.m. be4 Hs Fin Serv Subc. Here is the agenda and witness list: http://t.co/yBRhlmdqHt
22 hours ago