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
State regulator group urges alt capital for CUs
ARLINGTON, Va. (11/17/08)--The National Association of State Credit Union Supervisors (NASCUS) on Friday urged Congress to pursue “legislative and regulatory amendments” allowing credit unions access to supplemental capital. The group said its primary emphasis for the action is on credit union safety and soundness. “Given the current unpredictable economic conditions, allowing credit unions access to supplemental capital will bolster safety and soundness and provide further stability for the credit union system,” wrote NASCUS in letters to Senate and House leaders. “Unlike other financial institutions, credit union access to capital is limited to reserves and retained earnings from net income,” said NASCUS. “Since net income is not easily increased in a fast-changing environment, regulators recommend additional capital-raising capabilities for credit unions.” In its letter, NASCUS emphasized that while credit unions remain safe and sound in this troubled and volatile market, supplemental capital will enhance their ability to react to market conditions, grow into the future and serve their members in times of economic trouble. “Further, supplemental capital will allow credit unions to protect their liquidity as well as empower them to respond proactively and efficiently in a constantly changing financial environment,” said NASCUS.


RSS





print
News Now LiveWire
A recent report from @TransUnion says consumers born 1981 or later made up 27% of total auto-loan originations in 2014, up 16% from 2009.
1 hour ago
.@CUNA says new House bill is "further evidence" of lawmakers' interest in how @TheNCUA uses its funds from CUs. See News Now Monday.
21 hours ago
.@MECreditUnions announces winner of @YoungFreeME #SoundOff contest. @Sassquatch_Band will play Old Port Festival in June @PDD_Downtown
1 day ago
House Financial Services Com. to hold March 3 hearing to receive the semi-annual report of @CFPB Director Richard Cordray.
1 day ago
Rep. Jeff Miller (R-Fla.) re-introduced bill to ease veterans' access to loans for #smallbusiness purposes from a #creditunion (HR 1133)
1 day ago