Category Archives: National Credit Union Administration

Board Action Bulletin ALEXANDRIA, Va. (Feb. 14, 2019) – The National Credit Union Administration Board held its second open meeting of 2019 at the agency’s headquarters today and unanimously approved one item: A proposed rule to clarify and provide additional flexibility in the agency’s regulation covering required credit union supervisory committee audits. The Office of […]

ALEXANDRIA, Va. (Oct. 23, 2018) – The National Credit Union Administration Board has re-scheduled its December open meeting and posted the video recording of its September open meeting (opens new window). The December meeting is now scheduled for Thursday, Dec. 13, beginning at 10 a.m. Eastern. The meeting, like all NCUA open board meetings, will […]

NCUA Seeking Millions from the Melrose CEO for Breach of Duties ALEXANDRIA, Va. (Aug. 7, 2018) – The National Credit Union Administration Board, under an infrequently used authority, has filed administrative charges against Alan S. Kaufman, former chief executive officer, treasurer, and board member of Melrose Credit Union. The NCUA is seeking a prohibition order […]

The Federal Financial Institutions Examination Council (FFIEC) members today issued a joint statement to describe matters that financial institutions should consider if they are determining whether to use cyber insurance as a component of their risk management programs. The FFIEC members do not require financial institutions to maintain cyber insurance. The evolving cyber insurance market […]

ALEXANDRIA, Va. (Dec. 20, 2017) – Federally insured credit unions across the country saw loans grow at a faster rate in the third quarter than a year earlier, while assets and shares grew more slowly, according to state-level data compiled by the National Credit Union Administration and released today. Nationally, median loan growth in federally […]

ALEXANDRIA, Va. (Sept. 26, 2017) – As Puerto Rico and the Virgin Islands work to recover from the destruction of Hurricane Maria, the National Credit Union Administration has resources available to help credit unions affected by the storm. There are eight federally chartered credit unions headquartered in Puerto Rico and five in the Virgin Islands. […]

Board Action Bulletin Enterprise Solution Modernization Program Points to Greater Agency Efficiencies ALEXANDRIA, Va. (June 23, 2017) – The National Credit Union Administration Board held its fifth open meeting of 2017 at the agency’s headquarters here today and unanimously approved five items: Publishing a request for comment in the Federal Register on proposed changes in […]

Member Accounts Protected by Share Insurance Fund; Services Continue ALEXANDRIA, Va. (March 31, 2017) – The State of Michigan Department of Insurance and Financial Services today liquidated Valley State Credit Union of Saginaw, Michigan, and named the National Credit Union Administration as liquidating agent. ELGA Credit Union of Burton, Michigan, immediately assumed Valley State Credit […]

ALEXANDRIA, Va. (Jan. 26, 2017) – President Donald J. Trump has designated National Credit Union Administration Board Member J. Mark McWatters as the Acting Chairman of the NCUA Board. McWatters succeeds Rick Metsger, who was designated Board Chairman in May 2016. Metsger continues to serve as an NCUA Board Member. “I am deeply honored that […]

ALEXANDRIA, Va. (Nov. 4, 2016) – Credit unions can get information and advice on negotiating contracts for digital services in a new guidebook from the National Credit Union Administration. The Basics of Data Processing Contracts, available now on NCUA’s Small Credit Union Learning Center, provides detailed, comprehensive instructions on negotiating contracts with third-party vendors for […]