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LOANS RISE AT STATE-CHARTERED CUs
updated 12/31/13 03:18 PM
Data Shows Improving Environment
Loans at California state-chartered credit unions increased 4.4 percent in 2013 to $41.8 billion from $40 billion in 2012, according to the California Department of Business Oversight Quarterly Report. Loans were up $1.1 billion in the third quarter (2.8 percent from the previous quarter).

Total assets of California state-chartered credit unions were $79.3 billion as of Sept. 30, up $2.9 billion or 3.7 percent from $76.4 billion a year earlier, and up a fraction of a percent in the second quarter. Shares increased 3.6 percent to $68.2 billion from $65.8 billion one year ago and were up a fraction of a percent from the prior quarter.

Net worth was up 10.3 percent to $8.6 billion from $7.8 billion the previous year and up 2.1 percent from the $8.4 billion reported in the second quarter. The net worth to asset ratio improved to 10.8 percent from 10.17 percent one year ago and from 10.63 percent in the previous quarter. The allowance for loan losses decreased 27.8 percent to $695.7 million from $963 million one year ago and was down 8 percent from $756 million in the second quarter.

Delinquent loans fell $113.6 million or 21.5 percent to $415.6 million from $529.2 million in 2012. They also were down $63.1 million or 13.2 percent from $478.7 million in the second quarter. Delinquent loans as a percentage of total loans were 1 percent as of Sept. 30, compared with 1.32 percent a year earlier and 1.18 percent in the last quarter.

Other real estate owned totaled $57.2 million at the end of the third quarter, a decrease of $59.5 million or 51 percent from $116.7 million a year previous and a drop of $6.1 million or 9.7 percent from $63.4 million reported in the last quarter.

The number of state-chartered credit unions in California at the close of the third quarter stood at 146, compared with 153 at the same time last year.

 
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MCWATTERS DISSENTS ON BUDGET VOTE updated 11/22/14 06:37 AM
Also, Revised RBC Rule Coming
National Credit Union Administration (NCUA) Board Member J. “Mark” McWatters was the only one to vote “no” on the board’s 2015 proposed budget, which will increase 4.2 percent over last year. The vote was 2 to 1.

ANNUAL FED WEBINAR ON REGS, GUIDANCE updated 11/21/14 10:32 AM
Also, FinCEN Issues Advisories
Senior staff at the Federal Reserve will host an annual webinar to provide a recap of recent regulatory changes and highlight various inter-agency guidance. The webinar will also discuss current hot topics in the financial services industry and give a glimpse of future regulatory changes.

NEW EMPLOYMENT LAWS FOR 2015 updated 11/21/14 04:33 PM
Also, TIPs Bulletin Posted
The California Chamber of Commerce has released a list of new employment laws scheduled to take effect in 2015 or earlier that will have an impact on businesses in California.

DIANA DYKSTRA RECEIVES 'EAGLE AWARD' updated 11/20/14 10:41 AM
Outstanding Record of Achievement
Diana Dykstra, president and CEO of the California and Nevada Credit Union Leagues, was presented with the American Association of Credit Union Leagues’ highest honor—the Eagle Award—this week during AACUL’s winter meeting in Hawaii.