Constitution Corporate FCU Closes

NCUA Liquidates Constitution Corporate Federal Credit Union  ALEXANDRIA, Va. (November 19, 2010) — NCUA has announced that on November 30, 2010, Constitution Corporate Federal Credit Union (Constitution) will be liquidated. Constitution was placed into conservatorship by the NCUA Board on September 24, 2010, as part of the agency’s overall corporate resolution efforts. Liquidation is the next […]

Board Action Bulletin April 29, 2010

Board Action Bulletin National Credit Union Share Insurance Fund report   NCUA’s Chief Financial Officer reported the Fund’s reserve balance totaled $726.7 million March 31, 2010, with $7.1 million charged to insurance loss expense thus far in 2010.   March 2010 ended with an NCUSIF equity ratio of 1.26 percent based on the amount of […]

NCUA Extends Deadline to Qualify for Streamlined CDFI Application to Nov. 30

Agency Reminds Credit Unions to be Aware of Changes to Certification Rules ALEXANDRIA, Va. (Oct. 7, 2019) – The National Credit Union Administration has extended the deadline for federally insured, low-income credit unions that want to become certified Community Development Financial Institutions to apply for qualification to use the agency’s streamlined CDFI certification process. The […]

Streamlined CDFI Application Round Opens March 29

ALEXANDRIA, Va. (March 26, 2020) – Federally insured, low-income credit unions that want to become certified Community Development Financial Institutions can apply to use the National Credit Union Administration’s qualification process for streamlined CDFI certification beginning March 29. The intake period closes May 31. The NCUA’s online program guide (opens new window) has all the […]

NCUA Launches Culture, Diversity, and Inclusion Council

ALEXANDRIA, Va. (May 19, 2020) – The National Credit Union Administration took a significant step in making the agency a more inclusive organization with the launch of its new Culture, Diversity, and Inclusion Council. “For the NCUA to carry out its mission effectively, every staff member should be respected, and diversity and inclusion should be […]

Financial Regulators Issue Statement on Managing the LIBOR Transition

(July 1, 2020) – The members of the Federal Financial Institutions Examination Council (FFIEC) today highlighted the risks that will result from the transition away from LIBOR, and encouraged supervised institutions to continue their efforts to transition to alternative reference rates in order to mitigate financial, legal, operational, and consumer protection risks. The financial services […]

NCUA Monitoring Wildfires in the Western States

ALEXANDRIA, Va. (Sept. 11, 2020) – The National Credit Union Administration is monitoring a series of wildfires across the Western portion of the United States and stands ready to provide assistance to federally insured credit unions in the affected areas, the agency announced today. The National Interagency Fire Center is tracking more than 100 fires […]

NCUA Issues Two Prohibition Notices in November

ALEXANDRIA, Va. (Nov. 30, 2020) – The National Credit Union Administration issued two prohibition notices in November. These individuals are prohibited from participating in the affairs of any federally insured financial institution. Jennifer Furlong, a former employee of Groton Municipal Employees Federal Credit Union in Groton, Connecticut, entered into a pretrial diversion or similar program […]

NCUA Board Approves Final Rule on the Role of Supervisory Guidance

ALEXANDRIA, Va. (Jan. 19, 2021) – The National Credit Union Administration Board unanimously approved today by notation vote a final rule (opens new window) that outlines and confirms the agency’s use of supervisory guidance. The proposed rule was issued on November 5, 2020, as a joint interagency rulemaking among the NCUA, the Board of Governors […]

NCUA Releases Office of Minority and Women Inclusion Annual Report to Congress

ALEXANDRIA, Va. (April 14, 2021) – Today, the National Credit Union Administration released its Office of Minority and Women Inclusion (OMWI) annual report detailing the agency’s progress in 2020 in advancing diversity, equity, and inclusion in its workforce. The report also highlights the agency’s efforts to ensure fair and inclusive business practices as well as […]