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News Now

Washington
Matz sets corporate CU meeting for Nov. 5
ALEXANDRIA, Va. (10/19/09)--National Credit Union Administration Chairman Deborah Matz, board members, corporate credit unions, and trade associations will discuss corporate credit union capital accounts and other issues during a Nov. 5 meeting, the NCUA announced on Friday. During a speech before members of the Association of Corporate Credit Unions, Matz said that she has heard “loud and clear” the message that many in the corporate credit union system “believe that there should be some mechanism within the corporate structure to allow contributed capital accounts to be replenished if losses don’t fully materialize as projected.” The meeting, which will feature members of the NCUA’s senior staff and will take place at the NCUA’s headquarters in Alexandria, Virginia, is a response to these concerns. The NCUA continues to develop new rules for corporate credit unions, and the board is looking to release a proposed version of these new rules by its mid-November board meeting, which will take place on Nov. 19.


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