Monthly Archives: January 1970

Board Action Bulletin Share Insurance Fund Posts $32.5 Million in Net Income in Second Quarter ALEXANDRIA, Va. (Sept. 20, 2018) – The National Credit Union Administration Board held its eighth open meeting of 2018 at the agency’s headquarters today and unanimously approved two items: A proposed rule amending the agency’s regulation requiring real estate appraisals […]

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 […]

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 […]

Agency Now Accepting Comments and Budget Briefing Presentation Requests ALEXANDRIA, Va. (Sept. 26, 2018) – The National Credit Union Administration’s proposed 2019-2020 budget is available for review and comment. “The NCUA remains committed to a fully transparent and accountable budget process,” NCUA Board Chairman J. Mark McWatters said. “We appreciate thoughtful, specific suggestions from stakeholders […]

Member Deposits Protected to $250,000; Member Services Uninterrupted ALEXANDRIA, Va. (Oct. 1, 2018) – The National Credit Union Administration on Sept. 30 liquidated LOMTO Federal Credit Union of Woodside, New York. Teachers Federal Credit Union, of Hauppauge, New York, assumed LOMTO’s members and most shares as well as some loans and other assets. Teachers Federal […]

Chairman Urges Field-of-Membership Changes, Third-Party Vendor Authority ALEXANDRIA, Va. (Oct. 2, 2018) – Congress could bolster consumer access and better protect credit unions and members by making legislative changes proposed today by NCUA Board Chairman J. Mark McWatters. McWatters testified before the Senate Committee on Banking, Housing, and Urban Affairs. His oral (opens new window) […]

WASHINGTON—The federal depository institutions regulators and the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) today issued a statement to address instances in which certain banks and credit unions may decide to enter into collaborative arrangements to share resources to manage their Bank Secrecy Act (BSA) and anti-money laundering (AML) obligations more efficiently […]

ALEXANDRIA, Va. (Oct. 5, 2018) – Ten federally insured credit unions subject to civil monetary penalties for filing late Call Reports in the first quarter of 2018 have agreed to penalties totaling $4,133, the National Credit Union Administration announced today. The NCUA has published a list of credit unions (opens new window) that filed late […]

ALEXANDRIA, Va. (Oct. 9, 2018) – The National Credit Union Administration is closely monitoring Hurricane Michael, and the agency has a hurricane information webpage with material on preparedness and recovery available for credit unions and members in the storm’s path. The NCUA will be ready to assist credit unions with maintaining or restoring operations, if […]

ALEXANDRIA, Va. (Oct. 9, 2018) – Credit unions can get valuable information about using a “well-defined local community” field-of-membership narrative for community charter applications on an Oct. 24 webinar hosted by the National Credit Union Administration. Online registration (opens new window) is now open. Participants will use this link to log into the webinar and […]