(please click ad for more information)

Current News

Relevant Information—For You, By You
Rick Metsger, new Board Member for the National Credit Union Administration (NCUA)

NEW NCUA BOARD MEMBER SWORN IN
updated 08/15/13 02:40 PM
Metsger's Nomination Widely Supported
The National Credit Union Administration's new board member, the honorable Richard T. "Rick" Metsger, was sworn in Aug. 23. He replaces former Board Member Gigi Hyland, who left the agency in October 2012.

Metsger’s experience includes serving as Oregon state senator from 1999-2011, where he chaired the Oregon Senate committee that heard all financial institution legislation. He was a member of the board of directors at Portland Teachers CU from 1993-2001, and he has also been a board member of Financial Beginnings, a nonprofit focused on increasing students' financial literacy.

In June, Metsger remarked before the Senate Banking Committee that he will focus on "updating, simplifying, eliminating and clarifying existing rules to ensure that they are effective, but not excessive, consistent with safety and soundness."

Metsger also said the following regarding protecting the National Credit Union Share Insurance Fund (NCUSIF): "Because the fund is capitalized by member credit unions themselves, it is in the best interest of member credit unions to have a strong, forward-looking regulator, committed to protecting the fund from losses."

Sharon Lindeman, vice president of regulatory advocacy for the California and Nevada Credit Union Leagues, said, “Metsger’s nomination was widely supported, partly based on his experience as a credit union board member. We look forward to working with him on future rulemakings and supervision issues."

                           
print   email   share   share   share
                         

LEADERS ENGAGE WITH STATE LAWMAKERS updated 04/15/14 09:44 AM
Card Security a Hot Topic
Credit union professionals and volunteers took a stand for their members in Sacramento from April 7-8 during the California Credit Union League’s 2014 Government Relations Rally (GRR)—an event that attracted more than 75 attendees and helped build relationships with state legislators.

CO-OP ANNOUNCES SHAREHOLDER DIVIDEND updated 04/14/14 01:37 PM
Patronage Pool of $30.5 Million
CO-OP Financial Services has announced a shareholder dividend pool of $30.5 million for 2013—a 17 percent increase from 2012. Since becoming a credit union-owned cooperative in 1996, CO-OP’s total shareholder patronage has been $284.8 million.

DBO REPS ADDRESS 'CUOLI' INVESTMENTS updated 04/14/14 01:05 PM
State CU Update Given
California Department of Business Oversight (DBO) Commissioner Jan Owen and Deputy Commissioner of Credit Unions Erick Orellana gave attendees an overview of the department during the California Credit Union League’s 2014 Government Relations Rally (GRR) last week in Sacramento and welcomed questions from attendees.

CONGRESSMEN CONCERNED OVER RBC RULES updated 04/09/14 01:18 PM
Questions Arise During Hearing
Reps. Ed Royce, R-CA, and Brad Sherman, D-CA, questioned National Credit Union Administration (NCUA) General Counsel Mike McKenna on the effectiveness of the NCUA's proposed risk-based capital rule during a House Financial Services Committee hearing last week.