NCUA Releases Q3 2019 Credit Union System Performance Data

ALEXANDRIA, Va. (Dec. 6, 2019) – Data on the financial performance of federally insured credit unions for the quarter ending Sept. 30, 2019, are now available (opens new window) from the National Credit Union Administration. Beginning with the third-quarter data report, the NCUA has added a new feature: a spreadsheet listing all federally insured credit […]

Federal Regulators Issue Joint Statement on the Use of Alternative Data in Credit Underwriting

WASHINGTON – Five Federal financial regulatory agencies today issued a joint statement on the use of alternative data in underwriting by banks, credit unions, and non-bank financial firms. The statement from the Federal Reserve Board (Federal Reserve), the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of […]

Board Approves Second-Chance Policy Changes

Board Action Bulletin NCUA Seeks Comment on Higher Real Estate Appraisal Threshold ALEXANDRIA, Va. (Nov. 21, 2019) – The National Credit Union Administration Board held its tenth open meeting of 2019 at the agency’s headquarters today and unanimously approved two items: A final interpretive ruling and policy statement to expand career opportunities for individuals convicted […]

Kressman Named Acting General Counsel, McKenna Retires

ALEXANDRIA, Va. (Nov. 20, 2019) – National Credit Union Administration Chairman Rodney E. Hood today announced that Frank Kressman will serve as the agency’s Acting General Counsel. “Yesterday morning, Mike McKenna shared his decision to retire after over 30 years of service to the NCUA,” said Chairman Hood. “During this initial transition, Frank Kressman will […]

Eastern Financial Florida Credit Union Placed In Conservatorship

Eastern Financial Florida Credit Union is Open and Operating; Member Accounts are Safe and Federally Insured  April 24, 2009, Alexandria, Va. – The National Credit Union Administration (NCUA) today assumed control of the operations of Eastern Financial Florida Credit Union, a state-chartered, federally insured credit union headquartered in Miramar, Florida. The Florida Office of Financial Regulations, […]

First Delta Federal Credit Union Placed Into Conservatorship

The credit union is open, operating and serving its members Alexandria, VA, October 23, 2009 – The National Credit Union Administration (NCUA) today assumed control of operations at First Delta Federal Credit Union of Marks, Mississippi.  NCUA’s goal is to continue credit union service to the members and ensure safe and sound credit union operations. Service to […]

NCUA Charters “Bridge” Corporate Credit Unions

Two new corporates will assume existing business, ensure continuity in system ALEXANDRIA, Va. (October 5, 2010) – The National Credit Union Administration today announced the creation of two bridge corporate credit unions to assume operations of U.S. Central Corporate Federal Credit Union (US Central) and Western Corporate Federal Credit Union (WesCorp). These actions, which were originally […]

NCUA Charters Additional “Bridge” Corporate FCUs

New corporates will assume existing business, ensure continuity November 8, 2010, Alexandria, Va. – The National Credit Union Administration today announced the creation of two new bridge corporate credit unions assuming the operations of Members United Corporate of Warrenville, Ill., and Southwest Corporate of Plano, Texas.  These actions, which were originally announced in conjunction with […]

Financial Regulators Revise Business Continuity Management Booklet to Stress to Examiners the Value of Resilience to Avoid Disruptions to Operations

The members of the Federal Financial Institutions Examination Council (FFIEC) today emphasized that examiners understand how management of banks and other regulated entities, including depository financial institutions, nonbank financial institutions, bank holding companies, and third-party service providers, have prepared their operations to avoid disruptions and to recover services. The updated Business Continuity Management booklet focuses […]

St. Paul Croatian Federal Credit Union Placed In Conservatorship

St. Paul Croatian Federal Credit Union is Open and Operating; Member Accounts are Safe and Federally Insured. April 23, 2010, Alexandria, Va. — The National Credit Union Administration (NCUA) today assumed control of the operations of St. Paul Croatian Federal Credit Union, a federally chartered and federally insured credit union headquartered in Eastlake, Ohio. Service […]