Category Archives: National Credit Union Administration

Board Action Bulletin Proposed Rule to Minimize Potential Effects of CECL Methodology ALEXANDRIA, Va. (July 30, 2020) – Using a live audio webcast, the National Credit Union Administration Board held its sixth open meeting of 2020 and approved four items: A final rule amending the chartering and field-of-membership rules for credit unions applying for a […]

ALEXANDRIA, Va. (Nov. 10, 2020) – On the eve of Veterans Day, National Credit Union Administration Chairman Rodney E. Hood encouraged federally insured credit unions to help our nation’s military, veterans, and their families gain greater access to affordable credit and financial services. “I want to express my deep gratitude and sincere appreciation to our […]

ALEXANDRIA, Va. (Dec. 21, 2020) – Credit unions can learn more about the issue of human trafficking and how to spot the warning signs during a webinar hosted by the National Credit Union Administration on Thursday, January 7, at 2 p.m. Eastern. This webinar is presented in partnership with the U.S. Immigration and Customs Enforcement’s […]

WASHINGTON (Feb. 25, 2021) – The Federal Financial Institutions Examination Council (FFIEC) today released updates to four sections of the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual (Manual). Today’s updates affect the following Manual sections: Introduction – Assessing Compliance with Bank Secrecy Act Regulatory Requirements Customer Identification Program Currency Transaction Reporting Transactions of Exempt Persons The updates should […]

NCUA Releases Credit Union System Performance Data ALEXANDRIA, Va. (June 4, 2021) – According to the latest financial performance data released today by the National Credit Union Administration, federally insured credit unions reported net income growth of $11.3 billion, or 134.9 percent, over the year ending in the first quarter of 2021. The increase in […]

ALEXANDRIA, Va. (Dec. 17, 2019) – Federally insured credit unions generally saw continued positive trends in the third quarter of 2019, according to the latest NCUA Quarterly U.S. Map Review (opens new window). Growth trends in the credit union system continued in the third quarter of 2019, though loan growth slowed from a year earlier. […]

ALEXANDRIA, Va. (July 31, 2019) – The National Credit Union Administration issued two prohibition orders and five prohibition notices in July. These individuals are prohibited from participating in the affairs of any federally insured financial institution. Joey E. Camp, a former employee of Peoria Fire Fighters Credit Union in Peoria, Illinois, was sentenced on one […]

NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of account holders in all federal credit unions and […]

Board Action Bulletin Agency Will Return to Three-Year Rolling Regulation Reviews in 2019 ALEXANDRIA, Va. (Dec. 13, 2018) – The National Credit Union Administration Board held its eleventh open meeting of 2018 at the agency’s headquarters today and unanimously approved three items: Lowering the normal operating level of the National Credit Union Share Insurance Fund […]

Grants Up to $7,500, Agency Can Assist Credit Unions with Applications ALEXANDRIA, Va. (Sept. 24, 2018) – Low-income credit unions sustaining damage from Hurricane Florence are eligible for urgent needs grants (opens new window) up to $7,500 from the National Credit Union Administration to help restore operations. Credit unions can apply through the NCUA’s CyberGrants […]