NCUA’s Four Funds Receive Clean 2019 Audit Opinions

ALEXANDRIA, Va. (Feb. 14, 2020) – The National Credit Union Administration’s four funds again earned unmodified, or “clean,” audit opinions for 2019, according to audited financial statements released today by the agency’s Office of the Inspector General. The complete 2019 financial statement audits (opens new window) are available on NCUA.gov. The financial statements, audited by […]

Six Credit Unions Agree to Late-Filing Penalties for Second Quarter of 2019

Alexandria, Va. (Feb. 3, 2020) – Six federally insured credit unions subject to civil money penalties for filing late Call Reports in the second quarter of 2019 have agreed to penalties of $2,259, the National Credit Union Administration announced today. Individual penalties ranged from $150 to $757. The median penalty was $330. The Federal Credit […]

New Form 1040-SR, alternative filing option available for seniors

WASHINGTON ― The Internal Revenue Service wants seniors to know about the availability of a new tax form, Form 1040-SR, featuring larger print and a standard deduction chart with a goal of making it easier for older Americans to read and use. The Bipartisan Budget Act of 2018 required the IRS to create a tax […]

Fazio Named New Executive Director, Others Named to Key Positions

Executive Director Mark Treichel to Retire After a Long and Distinguished Career ALEXANDRIA, Va. (Jan 23, 2020) – National Credit Union Administration Chairman Rodney E. Hood announced today that the NCUA Board unanimously approved several changes to the agency’s leadership: Larry Fazio Named NCUA’s New Executive Director Examination and Insurance Director Larry Fazio will serve […]

Board Proposes Rules on Subordinated Debt, Combination Transactions

Board Action Bulletin 2020 Annual Performance Plan, CMP Adjustments, Interest Rate Ceiling Approved ALEXANDRIA, Va. (Jan. 23. 2020) – The National Credit Union Administration Board held its first open meeting of 2020 at the agency’s headquarters today and unanimously approved four items: A proposed rule to permit low-income-designated credit unions, complex credit unions, and newly […]

Cayse Named Western Region Associate Regional Director of Operations

ALEXANDRIA, Va. (Jan. 21, 2020) – National Credit Union Administration Executive Director Mark Treichel today announced the selection of Julie Cayse as associate regional director of operations for the agency’s Western Region. Cayse began her NCUA career in 2010 as an examiner after several years working in financial services in the private sector. She has […]

NCUA Offers Information, Assistance to Credit Unions Affected by Puerto Rico Earthquakes

ALEXANDRIA, Va. (Jan. 10, 2020) – In the wake of the recent earthquakes in Puerto Rico, the National Credit Union Administration will be ready to assist the seven federally insured credit unions there with maintaining or restoring operations, if necessary. “We are closely monitoring the aftermath of the recent earthquakes affecting Puerto Rico,” NCUA Chairman […]

NCUA’s 2020 Supervisory Priorities Include BSA Compliance, Consumer Protection, Cybersecurity

ALEXANDRIA, Va. (Jan. 7, 2020) – The National Credit Union Administration today issued its annual letter to credit unions listing its 2020 supervisory priorities as well as updates on regulations and the agency’s modernization programs. The full letter is available in the Letters to Credit Unions and Other Guidance section of NCUA.gov. “This is going […]

NCUA: Q3 2019 State Credit Union Data Report Now Available

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. […]

Board Approves 2020–2021 Budgets

Board Action Bulletin Risk-Based Capital Rule Delayed; Normal Operating Level Stays at 1.38 Percent ALEXANDRIA, Va. (Dec. 12, 2019) – The National Credit Union Administration Board held its eleventh open meeting of 2019 at the agency’s headquarters today and approved two items: Operating, capital, and National Credit Union Share Insurance Fund budgets for 2020 and […]