REACH Educational Session: NCUA Updates Attendees on Latest Information

Attendees to the California and Nevada Credit Union Leagues’ REACH Conference in Las Vegas, NV on Thursday received the latest updates from National Credit Union Administration (NCUA) officials.

NCUA Board Chairman Rick Metsger; Chief of Staff to Chairman Metsger Mike Radway; and NCUA Region V Director Cherie Freed spoke at the conference held at The Cosmopolitan of Las Vegas. Among the topics the trio discussed was the newly finalized field of membership rule and the Exam Flexibility Initiative.

The NCUA Board recently finalized the Field of Membership (FOM) rule as well as issued a proposed rule to address additional comments received that were outside the scope of the original proposal but which justify additional consideration.

“The motivation for doing it was not for credit unions, though it will benefit them, but rather for the benefit of consumers,” Radway said.

Every American that chooses to use a credit union as their financial institution should at least be able to have one credit union in their area that they’re eligible to join, he continued.

Radway told those in attendance a dozen changes were made to the field of membership rule, including making it easier to add an industrial park, office park, or shipping mall as a SEG group.

Freed said credit unions in Region V have overall solid net growth as well as 12 percent loan growth (which is higher than the national average of 9 percent). The Region, however, is watching indirect lending since it’s seeing an increase in delinquencies and charge-offs.

She also briefly pointed out some exam priorities for the coming year, including cyber security, BSA, and interest rate risk.

Metsger finished the session with some highlights of the Exam Flexibility Initiative, which will be rolled out with the passage of the budget in November. The initiative will allow for longer exam periods for some credit unions, including those with a CAMEL 1 or 2 rating and that are under $1 billion in assets and well-capitalized. “It’s a win for everyone” he said.

It will help the agency better use its human capital in a more efficient way, he added.

Having evolved into a premier destination for credit union leaders and others, the annual REACH convention has attracted those who are looking for powerful strategies they can implement at their credit union. The convention delivers dynamic, onsite tactics and ideas to embrace change in the financial services industry and evolving economy, and is hosted by the California and Nevada Credit Union Leagues.

About the California and Nevada Credit Union Leagues: With headquarters in Ontario, CA, the California and Nevada Credit Union Leagues is the trade association representing the interests of 352 credit unions in California and Nevada, and their more than 10.7 million members. For more information, go to

Matt Wrye, Media Relations Manager
California and Nevada Credit Union Leagues

Tina Ramos-Ingold, Media Relations Specialist
California and Nevada Credit Union Leagues

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