CUNA Comment Call: NCUA & Corporate Credit Unions

CUNA
February 5, 2009 | COMMENTS

The National Credit Union Administration (NCUA) has issued an advance notice of proposed rulemaking (ANPR) regarding the structure and operations of corporate credit unions (corporates).

The ANPR focuses on the role of corporates in the credit union system, including their membership structure, size, and types of services offered.

Additionally, the ANPR details possible changes to the regulations governing corporates, specifically in regard to: capital; permissible investments; management of credit risk and liquidity; and corporate governance.

Comments in response to the ANPR are due to NCUA by April 6; please submit your comments to CUNA as soon as possible.

If sending comments directly to NCUA, please also include a copy to CUNA.

CUNA's comment letter to NCUA will be written in collaboration with CUNA's Corporate Credit Union Task Force. The Task Force was formed late last year to address potential concerns with the corporates and is comprised of individuals from various natural person credit unions.

Please feel free to fax your responses to CUNA at 202-638-7052; e-mail them to Senior Vice President and Deputy General Counsel Mary Dunn at mdunn@cuna.coop and to Regulatory Research Counsel Luke Martone at lmartone@cuna.coop; or mail them to Mary and Luke in c/o CUNA's Regulatory Advocacy Department, 601 Pennsylvania Avenue, NW, South Building, Suite 600, Washington, DC 20004-2601. You may also contact us at 800-356-9655, ext. 6743, if you have questions or would like a copy of the ANPR. A copy of the ANPR can be accessed here.

> Read the Full CUNA Comment Call with Background & Questions to Consider

> Additional Resources on NCUA's Corporate Stabilization Program