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NCUA APPROVES NEW FIXED ASSET RULE
updated 09/13/13 10:18 AM
Revisions to Streamline Regulation
The National Credit Union Administration (NCUA) approved the revised fixed asset rule on Sept. 12.

The revised rule streamlines existing regulation and provides clarification to waiver requests and unimproved land or unimproved real property.

NCUA Staff Attorney Pamela Yu described the fixed asset waiver process that allows for an additional 1 percent of shares and retained earnings over the approved waiver amount. Under the new rule, federal credit unions that exceed the 1 percent buffer would have to submit a new waiver request. However, multiple purchases of fixed assets could be made within the 1 percent buffer, a provision included to limit credit unions from making multiple requests. Exceeding the 5 percent aggregate limit would require a new waiver request.

The revised rule also clarifies unimproved land or property as raw land without development, significant buildings, structures or site preparation; land that has never had improvements; or, land that was improved at one time but has functionally reverted to its unimproved state.

New Board Member Rick Metsger requested additional information to determine whether more rule changes should be made in the future.

 
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STATE CANDIDATE VISITS CU LEADERS updated 07/29/14 11:06 AM
Bates Engages With CEOs, Staff
Credit union leaders in Orange County gathered at Eagle Community CU last week to meet with Fifth District County Supervisor Pat Bates.

WCMS HONORS 2014 GRADUATING CLASS updated 07/29/14 09:58 AM
Weidler Receives 'Highest Honors'
Nearly 90 students from the “Mu” Class proudly received their Western CUNA Management School (WCMS) diplomas last Thursday night at Pomona College in Claremont, CA, where a lively audience cheered another successful send-off of credit union leaders who are devoted to keeping the credit union philosophy alive.

NATIONAL REG ADVOCACY TOOL LAUNCHED updated 07/25/14 01:55 PM
'PowerComment' Combats Burdens
PowerComment, a highly-interactive online resource that helps credit unions take their regulatory concerns directly to regulators, was officially announced today during the summer American Association of Credit Union Leagues (AACUL) meeting.

CELEBRATE 100 MILLION MEMBERSHIPS updated 07/24/14 03:42 PM
National Awareness Campaign
The credit union movement is on pace to reach 100 million memberships this summer. To commemorate this milestone, the Credit Union National Association (CUNA) launched the “100 Million Memberships” campaign, and invites all credit unions to participate.