Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
NEW: Federal, State Regulators Offer Easier LICU Process for State-Chartereds
ALEXANDRIA, Va. (2/20/13, UPDATED 5:35 p.m. ET)--Federal and state regulators have worked together to devise a plan to help state-chartered credit unions find it easier to to determine if they are eligible for designation as low-income credit unions (LICU).

Under a cooperative effort by the National Credit Union Administration and the National Association of State Credit Union Supervisors (NASCUS), state regulators can now provide limited geographic and income data to NCUA's AIRES system when they upload their examinations.

The NCUA said in a release it will use that data to determine if there are state-chartered credit unions eligible for the low-income designation and provide a list to state regulators on a quarterly basis of those credit unions. State regulators have the sole authority to make the LICU designation for state-chartered credit unions. (Watch News Now Thursday for more.)


RSS print
News Now LiveWire
@AdamMertzCUNA @CUNACraig @AnnHPeterson @CUEscan @cumagazine
2 hours ago
.@TheNCUA :Low-income CUs can expand services to members, train staff,collaborate for efficiencies w/more than $1M in grants awarded 2day
12 hours ago
.@CUNA joins 11 other financial service orgs urging @SenateFloor to take up #CISA to strengthen cybersecurity information sharing
13 hours ago
.@RedwoodCU and its staff donated a combined $5,100 toward AIDS Walk San Francisco. The CU is a longtime sponsor of the event.
13 hours ago
See the latest from @CUNA's CompBlog on Customer Due Diligence. http://t.co/rzOzDUpNMT
13 hours ago