Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
NCUA expands RegFlex time to occupy land for expansion
ALEXANDRIA, Va. (3/20/09)--RegFlex-qualifying federal credit unions will have up to six years to occupy unimproved land acquired for expansion without a waiver under a final rule approved by the National Credit Union Administration (NCUA) board Thursday. Previously, a RegFlex FCU had to partially occupy the premises within three years or it was required to obtain a waiver from NCUA. NCUA recognizes that “real estate transactions are complex, time consuming, and can involve a host of wide-ranging issues . . . [t]his is especially true in the unimproved land context considering the addition of construction-related issues.” A federally insured credit union automatically qualifies for RegFlex under 12 C.F.R. part 742 if it has had a composite CAMEL rating of 1 or 2 for its last two examinations and has been “well capitalized” under NCUA rules for the previous six quarters. FCUs may apply for a RegFlex designation if they either received a composite CAMEL rating of 3 or better in their previous examination or have been “well capitalized” for the previous six quarters.


RSS





print
News Now LiveWire
Construction spending drops in January, according to @CommerceGov http://t.co/W9J1mDyF8X #Market #NewsNow
10 hours ago
During Nat'l Consumer Protection Week, @TheNCUA reminds #CU members of agency resources re: rights as consumers. http://t.co/aYgW1HoDmF
11 hours ago
.@TransUnion: #millennials climbing into driver's seat with loans http://t.co/S4H9OIB3Av
12 hours ago
Breaking at #NewsNow: @CUNA backed bill introduced by @RepEdRoyce @GregoryMeeks would raise MBL cap. #CUSmallBiz http://t.co/ZDAb2UMoQz
14 hours ago
Loan growth at federally insured #creditunions in 2014 climbed to highest level since 2005, @TheNCUA reported today. Watch News Now Tues.
14 hours ago