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CUs PRESS NCUA FOR REGULATORY RELIEF
updated 08/08/14 12:11 PM
Corporate Assessment Unlikely
Credit unions continued pressing the National Credit Union Administration (NCUA) for regulatory relief last week as Credit Union National Association (CUNA) Interim President and CEO Bill Hampel wrote NCUA Board Chairman Debbie Matz a letter to emphasize the continuing need for regulatory relief measures.

Hampel called on NCUA to work with other regulators to reduce regulatory burdens that credit unions face. The letter also urged fiscal restraint for the agency.

Regulatory relief is a top priority for the California and Nevada Credit Union Leagues and CUNA as both organizations continue asking NCUA and the Consumer Financial Protection Bureau (CFPB) to minimize government-imposed requirements on credit unions every chance they have.

Corporate Stabilization Assessment Unlikely
Additional credit union payments to the Temporary Corporate Credit Union Stabilization Fund will not be required this year and are unlikely ever again, NCUA stated at its board meeting last week.

Total projected stabilization costs at the end of 2013 ranged from $2.8 billion to $4.2 billion—compared to a range of $6 billion to $9.3 billion in 2011—after all the NCUA Guaranteed Notes had been issued, according to Larry Fazio, director of examination and insurance for the agency.

The stabilization fund is currently projected to conclude in 2021 with a surplus of $600 million to $2 billion, and there could be a rebate to credit unions at that time, if all obligations have been met.

NCUA said the continued positive performance of conserved corporate credit union legacy assets, the NCUA Guaranteed Notes, and the $1.75 billion in settlements for the sale of mortgage-backed securities to the corporates have resulted in the favorable performance of the stabilization fund.

 
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CUs ACROSS THE GLOBE HONOR ICU DAY updated 10/16/14 10:26 AM
Today Marks The 67th Celebration
Credit unions around world are coming together in honor of International Credit Union Day—a celebration that started back in 1948 to reflect upon the industry’s rich history and to promote its achievements and impact. It is also a time to honor those who have dedicated themselves to movement and show appreciation to all credit union employees and members.

ECONOMY: JOBS AND HOUSING IN FOCUS updated 10/14/14 09:55 PM
Past Performance No Guarantee of Future
Jobs and housing drive many components of the credit union business. So how are we faring in California and Nevada?

CONGRESSMAN SHERMAN ON 'REACH' PANEL updated 10/14/14 09:38 AM
Will Discuss Supplemental Capital
Rep. Brad Sherman, D-CA, will join a panel of credit union experts to discuss supplemental capital for credit unions at this year’s 2014 Annual Meeting and Convention—REACH—adding to the exciting line-up of speakers and breakout sessions.

EXCITEMENT BUILDS FOR 'REACH 2014' updated 10/14/14 09:01 AM
New Special Guest Announced
REACH 14, the California and Nevada Credit Union Leagues' highly-anticipated Annual Meeting and Convention, is quickly approaching! This year will be one for the books. After all, the one and only Earvin “Magic” Johnson will be there!