Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Hyland urges due diligence diversity at CUs
OXFORD, Ohio (9/15/10)--Speaking on Tuesday, National Credit Union Administration (NCUA) Board Member Gigi Hyland urged credit unions to continue their due diligence efforts and “actively monitor” their loan portfolios and collection efforts. Hyland, speaking before the seventh mid-sized credit union CEO conference, said that “the marketplace is still immensely challenging,” and credit unions need to keep their “proverbial ear to the ground” to assure that they are “responding to members' needs while executing sound, timely risk management practices.” Credit unions should also take a “fresh view” toward all of their business practices, including how member needs are addressed and how risk management is handled. Additionally, credit unions should examine their investments to ensure that the appropriate asset liability management triggers and controls are in place. Hyland noted that credit unions should be aware that the number of credit union members that declare bankruptcies in 2010 will likely exceed the prior year’s total, and credit union earnings have “reflected members’ struggles.” Hyland said that credit unions’ overall return on average assets (ROA) dropped to 0.41% during the second quarter, down from the 0.47% ROA recorded during the previous quarter. Still, credit unions’ aggregate net worth ratio “held steady” at 9.9%, she said. Hyland also called on credit unions to “explore new avenues to serve everyone within their field(s) of membership” and to assure that their “board, management and staff are as diverse, in age, gender and ethnicity,” as their membership. For the NCUA release, use the resource link.
Other Resources

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
1 Day ago
Do you wish you were a News Now subscriber? Go here: http://t.co/7evfBSjeMx
1 Day ago
Financial education for student body key part of Altura #creditunion, UC-Riverside partnership #NewsNow http://t.co/Xp6OJd66o6
1 Day ago
.@VTcreditunions gains 200 new FB followers in just 2 wks to reach 1,000 http://t.co/I89xJcv4Jg
1 Day 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
1 Day ago