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The Small Credit Union Roundtable featured CEOs bringing members into the financial mainstream and NCUA chair Rodney Hood on the regulator’s role.
A committee approach allows the Washington cooperative to manage to an appropriate risk level while being a champion for members’ financial well-being.
Data from Callahan & Associates documents the performance in four key areas for credit unions that have made a charter change over the past decade.
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Interest in secondary capital is growing, and new strategies, larger loans, and precedent-setting decisions by the NCUA could dramatically change the way credit unions deploy it.
Three credit union leaders talk about tactics to keep lending in line with federal regulations.
With credit union acquisitions of banks on the rise, the ABA has gone on the offensive. Sound CU shares why its recent purchase of The Bank of Washington makes good business sense and its strategies for onboarding former bank customers, employees, loans, and more.
Consumer protections apply equally to in-house and outsourced collections teams, and training for compliance should be a priority.
Numerica Credit Union has served cannabis businesses for five years. Learn how the shop monitors risk for these growing businesses.
Five can't-miss data points this week on CreditUnions.com.
The new CECL accounting standards are expected to raise reserves and concern alike, but there could be some upsides, too.
Four credit unions with deep experience in SBA lending weigh in on building an effective program that frees up capital and minimizes risk.
Based on March traffic (and our editorial instincts), here are the top articles and blogs that appeared on CreditUnions.com.
The NCUA’s new cybersecurity assessment tool is a handful, but there’s help at hand.
CUNA CEO tells Small Credit Union Roundtable attendees to not sell themselves short, and that credit unions need to focus on the real competition, not each other.
Seasoned conventioneers share their best practices for a successful foray to the movement’s biggest gathering.
Salad and scotch isn’t the real issue at the regulator. The real issue is how it liquidated taxi medallion lenders and borrowers to top up its own budget with TCCUSF recoveries.
The regulator’s war on concentration risk belies the reality that all credit unions have niches and concentrations, and it's an excuse not to creatively seek workouts in the cooperative spirit.
Enterprise-wide awareness at Heartland Credit Union helps the Illinois cooperative stay in step with regulatory rule-following.
The movement’s future requires daily attention to sharing its present impact.
Credit unions need to redefine the debate to clarify the difference between for-profit banks and member-owned financial cooperatives.
The NCUA board touts its payback to credit unions, but soaring reserves hide a different story.
Hike the Hill, demand change, join together to encourage state and federal lawmakers to step in and save the system from the regulators.
The regulator listens to no one but itself — keeping more and spending more while the FDIC shrinks. Now, the fund owners have the means to model the fund’s performance.
How will independent experts view the NCUA’s merger of the corporate credit union bailout leftovers into the share fund?
Creating future accounting fictions is at the core of the regulator’s rationale for paying itself more and returning less to credit unions.
ADA website demand letters and lawsuits leave the movement seeking regulatory relief through more regulation.
What are the key factors that credit unions must consider when implementing a private student lending program or managing an existing one?
Are you willing to get involved in saving the NCUA from itself and the credit union movement for future generations?
Keeping credit unions’ money for itself in the corporate bailout fund merger is the last straw — NCUA’s self-interest trumped its cooperative responsibility.
Five can't-miss data points featured this week on CreditUnions.com.
The concept is simple, but here are some items a credit union should check when presented with a power of attorney.
The industry is increasingly looking to operatives to advance its agenda at state houses and on Capitol Hill.
The government relations and engagement chief at Visions FCU shares how the New York-Pennsylvania-New Jersey credit union makes lobbying a team effort.
Merging the TCCUSF and NCUSIF is a good idea. But don’t let NCUA fool you into keeping $1 billion of your members’ money.
Trade lobbies and compliance consultants say it isn’t just regulations that seem frozen, and what follows the thaw?
The NCUA board chair's GAC speech may pave the way for a once-in-a-generation opportunity for the credit union movement to leverage the loosened shackles of regulatory reform. Are we up to it?
While the new administration and Congress could change the CFPB, the bureau’s rules remain in effect and should be the subject of careful compliance.
The NCUA’s board chair says his top priority in 2017 is returning to credit unions the several billion dollars they’re owed from the regulator’s bailout of corporate credit unions in the Great Recession.
Amid planning for compliance and interchange hits, credit unions can count on a little help from their friends.
Technology providers evaluate 2016 and look ahead to the coming year.
More than $8 billion of credit union money is tied up in and around the regulator’s bailout of the corporates, but little else is really known.
Class-action suits pile up and it’s very easy to run afoul of complex, outdated regulations surrounding auto-calls and collections.
Credit unions can invest in the startups and serve the end users.
The agency’s board ducks responsibility and shrouds in secrecy what’s happening with $3 billion in recoveries from the sellers of dubious private mortgage securities.
The small Oregon-Washington credit union uses internal efficiencies and external outreach to hit new heights.
CFPB Director Richard Cordray tells Money 20/20 audience about his agency’s programs to encourage product innovation, within limits.
Stiff potential penalties underline the need to maintain and adhere to up-to-date compliance programs.
The chief financial officer of First Community in Texas talks about questioning authority, the regulatory environment, and the future of credit unions.
Redstone Federal Credit Union combines risk and reward in its counseling-lending program and casts a wary eye at proposed CFPB changes in short-term loan regs.
The regulator’s move may be first step of more relief to come.
Future shock, building a credit union blockchain, and a sustainable initiative to create credit union awareness were all topics at America’s Credit Union Conference.
Day two at ACUC sees focus on polling, projects, the regulatory burden, and how to compete.
New regs would provide a safe harbor under NCUA rule, but some say the effects could re-define small-dollar lending and sharply reduce availability.
NAFCU conference attendees hear of hope for change in Washington, how size and gender matters in executive pay, and that risk management includes reputations.
Examiners expected to follow new mobile rules from joint regulator council.
In February 2016, Callahan & Associates surveyed and collected open-ended feedback from 203 credit union executives from 46 states regarding their preparation, implementation, and post-TRID experiences.
Improving processes and building relationships with regulators are two ways credit unions can ease compliance pain.
The growing role of credit union service organizations in providing scale and expertise has caused increased scrutiny from the industry regulator.
Since the beginning of 2015, the NCUA placed a final ruling on 14 regulations. What are these regulations and how will they impact credit unions?
A review of NCUSIF audits show a rebuff of reality that marks seven years of building budgets while thwarting the fund’s intent to sustain and nurture.
NCUA chair Debbie Matz leaves the board as the movement prepares to live with burdensome new capitalization standards that data show nearly no credit unions currently run afoul of.
The new accounting standard from FASB presents challenges and opportunities to credit unions and CUSOs.
NACUSO conference points up innovative opportunities, regulatory challenges for collaborative entrepreneurship in the credit union model.
The experience of two credit unions shows prepping early for the TILA-RESPA Integrated Disclosure form changes paid off.
Callahan & Associates surveyed more than 200 credit union executives regarding their preparation, implementation, and post-TRID experiences.
Has TRID caused delays in credit union mortgage closings? If so, why? Find out what more than 200 credit union leaders report.
Bipartisan support erases party lines for credit union advocates for regulatory relief.
Credit unions need to value service as much as profitability and be able to show it.
Agency rule seen as especially favorable for real estate lending as regulatory relief languishes on Capitol Hill.
Compliance dance card overflows in 2015 while credit union legal beagles see TRID and true changes in 2016.
Why the Oscar-nominated Great Recession-era flick strikes a chord, especially for those in financial services.
One tech startup titan calls it quits while another touts hitting scale. Internet Archive FCU and CU Wallet see very different 2016s.
Crowdfunding provides opportunities for credit unions, small businesses, investors, and local communities.
Huge transportation bill includes some credit union-friendly measures that may, or may not, be harbinger of more to come. Either way, they do provide some regulatory relief.
The digital feature is part of the agency’s new resolution process for credit unions and their members.
What are common compliance pitfalls a credit union can fall into?
The fine print counts, so here are some common terms found in commercial loan documents spelled out in plain English.
Experiences in high-tech manufacturing, small business services, and the rodeo have prepared Kim Alexander, executive vice president and chief financial officer of Warren Federal Credit Union, for her role at a high-growth credit union.
Credit union involvement seen as limited but experts say keep an eye on the bouncing ball nonetheless.
What do mountains, frisbees, and barbecue competitions all have to do with credit unions?
Communication with real estate partners and with members will make disclosure changes less of a barrier to getting a home purchase closed.
How will the agency’s ruling ultimately affect credit unions?
Not all dark waters as TRID changes take effect and HMDA changes announced, but much work remains.
A panel at BAI Retail Delivery focused on “turning lemons into lemonade” with a culture shift that makes compliance a customer service imperative.
In this webinar, Callahan & Associates and Westerra CEO Jennifer Meyers discuss how the credit union uses its own performance data, national and regional economic reports, and internally drawn qualitative assessments to monitor its loan loss allowance.
A monthly collection of Callahan content that, together, addresses a single topic from a variety of perspectives.
In this Q&A, Kristen E. Edmundson, vice president of audit and compliance at Purdue Federal Credit Union, shares her perspectives on pain points, best practices, and the future of vendor management.
SECU shares how it prepared its 1,800 certified mortgage loan originators for changes resulting from the new loan disclosure rules.
In 2010, Fairfax County Credit Union received supplemental capital from the U.S. Treasury. Here’s how it used those funds to improve the long-term health of the credit union and its membership.
Michael Wettrich, president and chief executive of the $90 million Education First Credit Union in Ohio, makes the case for supplemental capital at credit unions.
Supplemental capital is a useful tool that is long overdue; however, it is not without risk and potential complications.
Regulator welcomes recommendation for congressional action, says increased authority would benefit the industry’s ability to secure member data.
Reducing compliance costs can save credit unions thousands of dollars annually and help smaller institutions remain independent.
When it comes to influencing regulators, whether credit union bills make it into law is often not as important as the attention they attract. Here's an update on why.
More plausible interest rate scenarios would better serve the industry in planning for rising rates.
Call it what you will, CFPB's promise to go easy on mortgage disclosure changes provides some temporary relief.
Will new mortgage disclosures set to take effect in August help or hinder consumer understanding of debt?
After big fine on big bank, bureau’s blanket probe of credit union core processor NSF settings raises eyebrows and call for self-examination.
Eight differences between bank and credit union vocabulary to prepare former bankers for their first couple of weeks of credit union employment.
These four lawsuits can provide valuable lessons to the industry.
Learn how credit unions performed in first quarter 2015 and find new opportunities in today's encouraging economic environment.
First quarter performance data showcases current and future areas of growth for credit unions, including first mortgages and share accounts.
TILA/RESPA integrated disclosure is so much more than a disclosure regulation. Many believe it will be a bigger deal than the Qualified Mortgage rule from January 2014.
Preparation, communication, and simple hospitality can go a long way toward making the grade with the regulator.
TTCU’s chief risk officer talks about responsibilities, skills, and value to the institution.
The deadline to submit comments about NCUA's risk-based capital proposal is April 27. This roundup of RBC2 commentary offers inspiration and suggestions for crafting a comment.
More than 1,000 credit union advocates from across the industry have made their voices heard. This selection of comments about NCUA’s revised risk-based capital proposal highlights drawbacks of the rule and underscores the importance of feedback.
Legal battle and years of uncertainty could follow a final rule like this.
This "fundamentally flawed" policy actually creates a capital problem.
Rick Metsger says the NCUA has a duty to protect the insurance fund against "material risks."
Like generals, regulators are always fighting the last war.
Much of the logic surrounding RBC2 is absurd, especially the idea that it offers any more protection than effective examination.
Does the future look bright for U.S. credit unions? Industry leaders weigh in on where they see opportunities and challenges.
Reserves are different from capital, and with RBC2, credit union members pay the price.
The argument that existing capital regulations are ineffective just doesn’t hold water.
Systemic rules like RBC are always simplistic and inflexible, a kind of bureaucratic bludgeon.
Now is the time to get ready for mortgage disclosure changes coming Aug. 1.
Appraisal risk application supports proactive management of appraisal quality and improves customer relationship tools.
The NCUA is proposing an invasive, possibly illegal solution to a problem that does not exist.
Callahan's research chief goes on the air with CUbroadcast to discuss why the NCUA board should vote against the agency's proposed risk-based capital rule and why credit unions need to lodge their comments now.
Reports show feds quietly raising bar on security and noting demographic differences in mobile banking and payments.
Credit unions should focus their efforts on persuading NCUA board member Rick Metsger to change his mind on RBC.
NCUA will assume it's all peachy-keen unless the agency hears from credit unions.
The annual performance of the share insurance fund is a real-world test of NCUA’s ability to identify future risk, document potential shortfalls, and accurately manage uncertainties.
Already commented once? Do it again. Haven't yet? Now's the time.
Current comment period should be just the beginning of constant contact with those who rule our world.
Yay or nay, the cooperative system needs your participation on matters of such consequence.
Call for comment gains urgency as April 27 deadline approaches.
Exercise your right and do the right thing for your members by commenting on the risk-based capital rule. It's your "vote." Make it count.
Year-end data clearly proves there is no capital problem or shortfall in the credit union system.
Regulators and legislators promise reform to skeptical audience, plus other observations from four days in DC.
When will the NCUA pay attention to how the FDIC views risk-based capital?
Escape the circus and live beyond the limits of the imaginary lid. Comment on the RBC rule.
Credit Unions should consider these four tips to make sure they're ready for the change.
How ORNL Federal Credit Union designed a vendor management system that is both centralized and departmentalized.
Learn how credit unions performed in fourth quarter 2014 and find new opportunities in today's encouraging economic environment.
Is making the NCUA look professional more important than debating rules before they're passed?
Tips from BECU on how to manage growth and risk under increased regulator scrutiny.
Qualified mortgage rules should reflect bigger credit unions as part of the solution, not part of the problem.
Industry preparing RBC commentary as NCUA rolls out annual regulatory review list with more to consider, and a deadline in August.
A new era of transparent debate and both sides of the story will be good for us all!
NCUA preaches member data protection, told to practice the same, as agency prepares regulatory response to California thumb drive mishap.
NCUA is setting an anti-democratic precedent in its repeated efforts to keep private the legal opinions about its public regulatory authority. RBC is one example. The CUSO rule is another. Will there be more?
A condensed review of the changes NCUA made to its proposed risk-based capital rule and the primary takeaways for credit unions.
How did the three board members and NCUA fare during the open meeting in which the agency released the revised risk-based capital proposal?
New Jersey de novo says it’s well capitalized but heavily restricted, and CEO has some suggestions for working together.
To craft an effective response, credit unions must understand how board members view the rule.
If NCUA implemented the role of the practitioners in the spirit of member participation, then the precedent could be an important milestone in how the agency works with credit unions.
A speech by the vice chair of the FDIC should be top of mind as the industry considers the new risk-based capital proposal.
Discussions held during the largest ever credit union conference still resonate today.
Understanding and retaining control of your student lending program is critical to its success.
Coming compliance change would add new heft to “know your customer” rules for business, organizational accounts.
Three days of takeaways from the ACUMA’s 2014 fall conference.
Credit union leaders explain the difficulties of running an organization in the face of new regulatory challenges.
While Senate panel hears from trades, former NAFCU VP says CFPB might be able to do what Congress won’t.
The proposed rule will not provide credit unions with more flexibility or additional tools to manage liquidity and interest rate risk.
Social media is a hot topic, but it has its risks, especially potential consumer compliance risks.
FICO's recent changes to how it calculates credit scores could have consequences for your lending portfolio.
The credit unions on NCUA’s risk-based capital panel have an opportunity to make a difference for the cooperative system.
NCUA's listening session should be a wake-up call for credit unions. Why does the regulator want to follow an ineffective banking model when the cooperative approach has proven time and again to be superior?
Callahan's leadership team weighs in on what's happening around the industry.
Credit unions have always been outgunned, impeded, and underestimated. So why are these financial institutions winning at a time when so many others have fallen short?
With members who are either blood relatives or married to one, Our Family Social maintains a tradition that began more than 60 years ago.
According to Wright-Patt Credit Union CEO Doug Fecher, risk-based capital should be a conversation between regulators and cooperatives, not a hard and fast rule.
Comparing home-based credit unions to buggy whips trivializes the modern quality services they provide to their members
RBC mandates a one-sided approach to financial soundness that requires credit unions to play only defense with no offense. No team wins that way.
NCUA has yet to provide a weighting for human error.
The 2013 annual audit of the TCCUSF shows credit unions are due billions of dollars in refunds. Now is the time for a thorough review of NCUA’s stewardship.
NCUA asserts home-based credit unions are "stuck in the past," but the fact these credit unions have an average charter length of 55 years and have survived the Great Depression, World War II, the Vietnam War, and the Great Recession tells a more meaningful story.
NCUA’s proposed rule to prohibit credit unions from operating out of private residences has wide-reaching effects not only for the 74 home-based federal credit unions but also for every credit union operating in this country.
With NCUA’s proposed risk-based capital rule, banks come out on top.
A panel discussion on the most comprehensive and consequential regulation ever proposed for credit unions.
A Q&A with Maps Credit Union on how it evaluates its local bank and credit union competitors.
Bank regulators vote to strengthen the leverage capital requirements for the eight largest banking
organizations by taking an approach the cooperative model has used for more than 100 years.
... and other reflections from a walk on a sunny spring day.
In the hands of skilled credit union underwriters, creative loan structures can help deserving buyers acquire affordable homes and achieve the American Dream.
NCUA’s proposed RBC rule would double credit union capital requirements versus banks for common asset classes where risk weights are different.
An analysis of capital requirements for a bank and a credit union with the same asset size and composition.
First Tech FCU created a chief investment officer role to manage the multibillion-dollar institution’s investment portfolio.
NCUA's proposed rule not only presents an unbalanced portrait of the home-based credit union today but also overrides the right of a credit union to choose a different design and purpose.
Anecdotes and comments about NCUA home-based credit union rule demonstrate the power of the cooperative model.
When did a public hearing become a secret proceeding?
ATR gives borrowers more legal rights to challenge a creditor, but the true cost arising from those rights is yet to be determined.
Timely data that provides transparency at all levels of system performance can be a significant, cooperative strong, advantage for credit unions.
If the tables were turned, how would an NCUA examiner respond to NCUA's own management of NCUSIF funds?
Compliance is on everyone’s mind in 2014, but credit unions are discovering ways to ease the burden and support one another.
Small and large institutions alike have a lot to look forward to in 2014.
Credit unions can finally settle the tax exemption issue by rallying the base or striking a bargain.
Life often hands credit unions new regulations and other lemons. Yet the cooperative system has an impressive track record of clearing these obstacles or turning them into stepping stones for new growth.
These three far-sighted strategies can help remove roadblocks and provide a path to increased member business lending.
One NCUA examiner-turned-CEO offers advice and insight for credit unions looking to tackle regulator concerns head on.
NCUA’s November board actions and subsequent commentaries represent a lack of meaningful interaction between regulators and credit unions.
With a wealth of different options available, here’s what credit unions should really be looking for in a trusted partner.
Richard Cordray attended POLITICO’s November Morning Money Breakfast and spoke about new CFPB regulations and the goals of the bureau going forward.
BECU talks about complying with CFPB consumer complaint expectations.
Third quarter performance data highlights opportunities and success in the credit union industry.
At its October board meeting, the NCUA released a final liquidity rule to be put in place by March 2014
The standoff over government funding and debt ceiling is a warning for a credit union system that depends on outside liquidity providers.
No credit union is immune to the new CFPB rules regarding lending in today’s mortgage market, but smaller institutions have more time to observe the impact and assess new technology before implementing the changes.
WSECU’s short-term loan offers much-needed credit without the exorbitant rates and fees typically associated with these types of products.
A look at the CFPB’s Semiannual Regulatory Agenda provides clues to what regulations lie ahead.
The cooperative business model is gaining momentum, but is the NCUA keeping up with demand?
As of June 30, 2013, the total of the reserves established by each of the five corporates prior to liquidation shows that $5.4 billion of combined OTTI write downs are still unused.
Opportunity for credit union owners of Members United and Southwest to recover some of the losses on portfolios.
How GFA FCU overcame numerous challenges to take advantage of the right growth opportunity.
The June 30, 2013, update of the U.S. Central Federal Credit Union securities shows that of the total $3.5 billion other-than-temporary-impairment (OTTI) future loss estimates, more than $2.3 billion is still unused.
Avoid costly and time-consuming lawsuits by knowing the correct wording for standard business forms.
How post-Durbin developments are impacting credit union strategies.
Here are four different ways you can join the conversation about the need for an understanding of cooperative principles in regulatory leadership.
The results of the Co-Ops 4 Change "NCUA Survey" are in!
Education is key for credit union staff seeking to establish themselves as payments professionals.
Co-Ops for Change is crowd-sourcing data on each corporate credit union’s portfolio that was taken to collateralize the NCUA Guaranteed Notes (NGN).
No credit union in America has come close to the bottom-line financial results of Arrowhead Credit Union’s 3.75% ROA for both 2011 and 2012.
Credit unions can use change to engage with their members.
Credit unions are rediscovering the power of a community action website – a channel to encourage members to speak out and to participate on issues of common concern and interest.
As the first major Co-Ops 4 Change initiative winds down, support for the movement is taking off.
The scrutiny that the recent mortgage lending collapse created makes compliance in this area more important than ever.
Just a quick update on our progress here at Arizona State Credit Union.
I’m not naïve to think this is going to be easy. But I’m also not going to let people count us out until we put up the good fight.
Having a background and deep understanding of cooperative principles is a very desirable attribute of any incoming NCUA Board member.
The future direction of the credit union movement depends on having regulatory leadership which understands both the industry and the cooperative principals by which we operate.
I’m number 3. We need 100,000. Why are we only 1% of the way there?
I have a great working relationship with NCUA but I think our industry is being confronted with the need to transform itself.
Now is the time for credit unions to ask critical questions about the soundness of the cooperative system.
Jay Murray, CEO of Mid-Atlantic Corporate FCU, shares his ideas for regulation reform at the annual Governmental Affairs Conference in Washington, DC.
Chip Filson, Chairman of Callahan & Associates, announced Monday a major initiative: A New Vision for Cooperative Regulatory Leadership for the 21st Century.
Chip Filson, Chairman of Callahan & Associates, shares his WhiteHouse.gov petition drive to change the way Washington selects NCUA Board members.
The White House petition process is aimed at giving people on opportunity to share concerns and get responses from their government. Here’s how it works.
Chip Filson, Chairman of Callahan & Associates, announced today a WhiteHouse.gov petition drive to change the way Washington selects NCUA Board members.
What does the president’s cabinet nomination of the CEO of a cooperative mean for credit unions?
Lack of cooperative principles led to NCUA missteps during the financial crisis. Restoring those principles, widely tested through 75 years should, be our guide forward.
To promote the continuous evolution of the credit union charter and its multifaceted contributions to the country’s economic progress, a new cooperative regulatory structure is needed.
Credit unions themselves need to spearhead NCUA reform. Here are the reasons.
At the heart of credit unions is a new organizational model based in cooperative design. It should also be at the core of the regulatory system. A radical overhaul is called for.
A reputation for taking care of members lands Sunmark Credit Union a revenue-boosting insurance agency that provides a cushion against hard times.
Mike Sacher and Alix Patterson review issues related to the allowance for loan losses including the latest data on credit union asset quality trends, given the recent changes in regulatory reporting, and what credit unions need to consider for the coming year.
Credit unions that build networks with to their peers can more easily tackle regulatory challenges.
The Ohio Credit Union League offers resources such as discussion groups and file-sharing libraries to ease the burden of complicated regulations.
Three CUSO executives explain how service organizations like theirs help credit unions stay on track amid ever-changing reform in the financial services industry.
Credit unions are collaborating with one another and building cooperative networks to tackle increasingly challenging regulatory issues.
On December 20, 2012 FASB issued a Proposed Accounting Standards Update on the allowance for loan losses which could have a profound impact on credit unions.
ALL insights and observations for year-end 2012.
Michael Martin of FedChoice Federal Credit Union discusses what issues his credit union is focusing on in 2013 and how regulation is playing an increasing role in credit union risk management.
University Federal Credit Union is a mover and shaker in Central Texas.
Only credit unions can do what they do for communities; let’s get to work and spread the word.
The CFPB says it wants to include credit union voices as it finalizes regulations required by Dodd-Frank.
Conduct quarterly internal audits to ensure your vendors are in compliance with regulations.
Credit unions have come a long way with their political advocacy, but in many races there’s a need for even more.
Credit unions have several important issues to consider this election cycle as they scrutinize their local candidates.
Credit unions still have plenty of time to play an active role in this year’s political cycle.
Credit unions are eager to learn whether the new council will truly serve as an impactful voice for the industry as the CFPB drafts regulations.
A credit union charter could save Bank of America customers billions of dollars annually. That’s a non-government stimulus waiting to happen.
Australia’s oddly named bank switching legislation highlights a growing demand for easier swaps between financial institutions.
Some credit unions outsource compliance expertise while others invest in their own staff to manage growing regulatory pressures.
Recent ATM regulations call for better accessibility for visually impaired members.
Pentagon FCU and SECU of North Carolina work with regulators to create transparent, member-friendly documents.
Rocky Mountain Credit Union's Holly Lane discusses how she manages today's complicated regulatory environment.
Mortgage lenders can brush up on the details of the Secure and Fair Enforcement for Mortgage Licensing Act.
Credit unions cringing at new regulation proposals can be proactive in several ways.
Wright-Patt CEO Doug Fecher wants credit unions to be aware that new rules from the Consumer Financial Protection Bureau could indeed affect them.
NCUA’s June 30 data confirms a turnaround at Arrowhead and prompts serious questions about the agency’s supervisory judgments.
Credit unions are skeptical that the Consumer Financial Protection Bureau’s new complaint policy will prove valuable.
Credit unions must consider ongoing options to manage this critical shift.
A CUSO promises to go the extra mile to glean maximum benefits from its interactions with the NCUA and challenges NACUSO to do the same.
The reintroduced member business lending bill has been a hot topic of discussion.
In the light of day, NCUA’s disclosure that FIS received an information technology supervisory letter from the FDIC doesn’t appear threatening. Is that good or bad?
NCUA advises of its top priorities, but warns recommendations may extend beyond written regulations.
Examinations require an investment, and credit unions, CUSOs, and credit union members should have a clear set of goals for that effort.
As credit unions bring their older units up to speed, they should consider the direction the industry is moving.
NCUA testimony before the House Financial Services Committee leaves elected officials with serious questions about the agency's actions.
Credit unions have greater flexibility to help underwater borrowers with Government-Sponsored Enterprise backed loans.
A summary of key provisions of the proposed action with commentary on what the rule will mean for credit unions.
Non-interest income is an important metric for any credit union. How did it fare in 2011, during the calm before the Durbin Amendment storm?
A new audit shows the NCUA Corporate Resolution Plan cost credit unions almost $1.5 billion more than previously reported.
Best practices for reducing expenses, improving vendor performance, and achieving regulatory compliance.
There has been no public accounting for the Temporary Corporate Credit Union Stabilization Fund for nearly two years. Where are the voices calling for light?
Student loans continue to be a real need for many members, and credit unions can help in several ways.
Surviving in a new economy requires successfully managing risk and satisfying new regulatory requirements.
Is your credit union eligible to take advantage of a special tax incentive?
To take the pulse of collaborative business lending, CUSP gathered three business lending CUSO CEOs to discuss the markets they serve, why experience is so important, and what consolidation means for the future of their businesses.
Language is unclear in the law regulating credit unions investing in derivatives. Will NCUA’s new effort to revisit the rule help?
Small voices can add up to be more than enough.
August 2 proved to be a pivotal day for the country, for credit unions, and for NCUA.
Evaluating NCUA’s call for voluntary prepayment can be tricky, but here are some key factors to consider.
Henry Wirz, CEO of SAFE Credit Union, provides his recommendations for reform in the credit union system.
Credit unions will have to “get innovative” now that a new regulation on debit swipe fees is finalized, one credit union executive says.
The impending reprice of interchange fees has some credit unions anxious; others are seeing opportunity.
Balance reward and risk to manage your credit card portfolio.
Meeting the demands of tech-savvy customers while minimizing costs and protecting payment data can be a challenge, particularly in an era of growing regulatory oversight.
10 advantages financial institutions have over competitors in the developing payments space.
Jay Johnson outlines five key operational and strategic topics that credit unions across the country are debating in their Board rooms.
Estimation of the Allowance for Loan and Lease Losses has been a part of credit union accounting processes for years, but it has become more important recently.
Credit unions can find a “tremendous pricing opportunity” under the proposed Durbin Amendment, says one industry expert.
The new request presents an opportunity for a vote of confidence on NCUA’s management of the corporate stabilization process.
The information contained in the analysis is so misleading it casts doubt on NCUA’s ability to understand the issue and its impact on credit unions.
Systemic reform is necessary to satisfy the growing needs of members.
Operating expense to income, efficiency, members per employee: Three metrics to evaluate your credit union and bridge the gap between macro trends and micro performance.
How to redesign the NCUSIF for a 21st century credit union system.
Cost of funds, net interest margin, operating expense ratio: Three metrics to evaluate your credit union and bridge the gap between macro trends and micro performance.
The opportunity to address a fundamental flaw in the cooperative structure is available, the options are actionable, and credit union energy is pent up, ready for action.
Engaged Board members contribute to Guthrie's membership as well as its bottom line.
Fate has dealt difficult cards for consumers and institutions alike. How will credit unions show the way forward?
More than 85% of mortgage applications were for refinances during the peak of the refi boom. Now it’s less than two-thirds. How can you prepare for the decline?
Chip Filson talks with CUbroadcast about the past, present, and future of credit unions.
When you desire change in our industry, you are confronted with a choice: You can work within the system, or outside it
Credit union volunteers must meet certain financial knowledge requirements. Shouldn’t the movement’s governing agency be held to a similar standard?
Debit interchange regulation is moving the market away from free checking, which gives credit unions a new way to enhance member relationships.
A healthy regulatory environment requires transparency, member representation, and member participation, all lacking today. The movement should take a hard look at the current situation determine what is not working and how repairs might be made.
It presents my belief that we have come to an impasse with the NCUA and with those
who think our system is simply a “bank-lite” version of financial services. I make no
secret how I feel about those who would sacrifice our system for quick fixes or political
convenience instead of nurturing our collective capabilities to respond to the everyday
needs of our members.
A new calendar means new chances for credit unions to seize the economic recovery.
From enhanced expertise to reduced overhead and stress, the benefits of joining a CUSO are evident.
Credit union CEOs need to urge their representatives to take another look now.
The perfunctory review shows there is no governance process controlling NCUA’s exercise of its authority.
Credit unions are increasing their technology budgets, especially for features that enhance member service, improve accessibility, or help the institution keep pace with regulatory compliance.
Mountain America Credit Union used a variety of marketing methods to educate members.
National reports and local initiatives illustrate how responsible financial institutions help members save money, spend wisely, and jump-start economies.
When Regulation E hit, credit unions responded. Now industry leaders use it as a platform to engage members.
CFCU sponsors brown bag events to educate legislators and advocate for the credit union movement.
Community First Credit Union sponsors brown bag events to educate legislators and advocate for the credit union movement.
The focus is an analysis of NCUA’s September 24 actions on the Corporate system and lessons to be drawn for future action. The information is to help you decide what these actions might be for corporates, natural person credit unions, your members and the American Financial System.
Mixed signals about the economy don’t diminish the positive work of credit unions.
Five factors to help your credit union make the right data processing decision.
Credit unions have the ability to serve members through all financial times.
NCUA’s 0.124% NCUSIF premium announcement follows this logic: Things are bad because we said so. Therefore, we’re taking this premium action because things are bad.
An interview with Chip Filson about Callahan’s upcoming webinar discussing the credit union opportunity in 2010 and 2011.
In late July, Inland Empire community leaders sent NCUA a letter about Arrowhead’s conservatorship. On August 10, NCUA responded but failed to address the writers’ chief concern — when will they get their credit union back?
The credit union says it is seeking its constitutionally guaranteed due process from NCUA.
Our current climate is not only a time of opportunity but also a time for action.
Credit card balances are up 6.7% from June 2009.
A complaint filed by Kappa Alpha Psi FCU suggests its liquidation runs deeper than regulatory obligation.
A new section of Southeast Corporate’s website gives members an outlet to speak out about the value their Corporate provides.
Industry knowledge, experience, and insight are critical components of auditor services.
A regulatory environment that values member protection benefits the credit union movement.
Given the similarities between MSBs and credit unions, will any consider converting to a credit union charter when the Office of Thrift Supervision ceases to exist?
A message from the banking sector provides a ray of light contrary to gloom and doom forecasting.
For the one-third of credit unions that participate in member business lending, government restrictions influence their business models and local economies.
Past structural changes at NCUA are relevant to today’s credit union environment.
Should Regulatory Policy Make Temporary Failure a Permanent Condition?
The passage of the Durbin Amendment likely will give big merchants the power to dictate consumer finance, just as they did in the 1950s.
Threatss to non-interest income highlight service organizations' potential in income diversification.
Promoting thrift and providing a source of credit are two components that steer whether a credit union service is subject to UBIT.
Four resources to help you understand the issues brought on by today’s environment and evaluate if your credit union has a healthy mix of income sources.
Consumers are Spending, Legislation is Agreed Upon, and FDIC Sits Tight
Independence Day celebrates not only our freedom but also the many efforts and sacrifices made to achieve it. The price is eternal vigilance.
Banking lobbying group’s argument against raising the MBL cap? Self-interest.
Surcharge limitations would create a toxic situation for consumers and small businesses alike.
Card issuers can now use income estimation models to meet CARD requirements. Learn more about selecting the right model for your organization.
The co-operative model dissolves the conflict between co-operation and competition with a singular focus on the well-being of the member.
Public policy efforts for 2010 focus on initiatives that benefit Main Street, where credit unions live and work.
Credit unions share powerful insights and successful strategies.
Acquaint yourself with the new wave of short-term credit users and prevent payday lenders from doing serious damage to your membership.
With a Regulation E Overdraft Rules deadline just around the corner, credit unions are facing another compliance challenge for their overdraft services.
John Tippets talks about the economy, California’s stinging real estate market, and the credit union’s return to its core competencies.
Callahan’s year end non-interest income survey provides a snap shot of the industry before Reg E changes take effect.
Changes to Regulation E and consumer opt-in requirements could significantly impact credit union non-interest income.
North Island Credit Union put in place a rigorous cost-cutting regime as soon as the economic crisis hit.
Hershey Federal Credit Union was hit with the impact of financial troubles before 2009 and worries about growth and regulation in the upcoming years.
Over the course of 2009, many new regulations came about that have an impact directly on credit unions.
A glimpse at the cheer worthy, jeer worthy, and tear worthy stories for the week of March 29, 2010.
This edition is brought to you straight from the corporate communities that use this holiday to have a little fun and show some personality. And from the letters C and U.
With everyone wanting and urging increased lending, why isn’t it happening?
Mark Cochran talks about Jeanne D'Arc success and how they worked through the financial crisis after replacing a long-standing, retiring CEO in 2007.
Arizona State Credit Union CEO, Dave Doss talks about how the credit union saw trouble in 2008 and in turn began to tighten its belt early.
Credit unions face challenges in educating members and gaining approval for overdraft protection before the July 1 deadline.
Chip Filson urges credit unions to sign a letter for President Obama that documents the extraordinary performance of the industry during the financial turmoil of 2009.
President and CEO Jim Blaine talks about what increased regulation means for State Employee’s of North Carolina and the industry at large. (video included)
A glimpse at the cheer worthy, jeer worthy, and tear worthy stories for the week of March 15, 2010.
A glimpse at the cheer worthy, jeer worthy, and tear worthy stories for the week of March 1, 2010.
Understanding the changing landscape of credit cards is critical for growing a prudent, profitable program.
New studies and credit issuer backlash against CARD Act regulations highlight just how plastic American consumers are.
A glimpse at the cheer worthy, jeer worthy, and tear worthy stories for the week of February 15, 2010.
Hot-topic measures up for discussion at the GAC are geared to expand the capacity of the credit union industry to make an impact on local economies.
To help credit unions make the most of their time in front of lawmakers – both national and local – we’re providing a three-pronged attack for political persuasion, as well as a 60-page resource of articles and insight from Chip Filson.
NCUA seems not only at cross purposes with credit unions, but completely out of touch with the dominant priorities of the Administration.
Andrew Cuomo may be big bank enemy number one.
Proposed legislation around the country is opening the market for credit unions to compete for municipal deposits, but a law circulating in one Southwestern state assumes a more aggressive position.
Credit union leaders must be involved and engaged for the credit union industry to seize new opportunities in 2010.
NCUA should think less about “being in control” and more about working cooperatively to shape a system for the future.
NCUA’s proposed new corporate rules leave managers confused: Would investing in the reconstituted corporates be prudent? Right now, no one could be sure.
It is almost a year since the NCUA took over WesCorp and almost two years since NCUA published an audit. Whatever happened to "honest numbers"?
Diana Dykstra talks about the importance of engaging early and engaging often when pulling the ear of lawmakers.
House Financial Services Committee Chairman Barney Frank responds to questions regarding upcoming bank regulation, the Obama plan, and the future of the Fed.
So is the 2008 Report just missing in the Agency bureaucracy or is this a more serious situation? And why is this issue so important in the midst of multiple responsibilities? An allegorical Sherlock Holmes sets out to get the answers.
WesCorp staff, like all corporates, has been devoting much time and resources to analyzing the proposed 704 corporate rule. Read the logic behind their analysis and why NCUA should allow this information to remain public.
President Obama is set to release his 2011 budget plans in February, and it's rumored that a proposed TARP fee will require financial institutions to help replenish the money taxpayers forked over in 2008.
This weekend, two writers in national papers discussed "strategic defaults" -- when a homeowner choses to walk away from a house underwater, rather than continuing to pay their mortgage.
One of the most important questions facing the recovery industry today is whether or not there is a need for more government intervention.
Given today’s economic challenges and stringent regulatory environment, it’s no wonder many credit unions are considering mergers. Whether it’s mergers of necessity or mergers of choice to better serve members, the process to combine credit unions has undergone substantial changes.
What do the proposed regulations mean for your credit union and your corporate? Will this rule create the corporate system in which your credit union will invest?
Credit unions must address key issues at institutional and regulatory levels.
Engage early. Engage often. Lawmakers need to hear from credit unions.
Dealing with regulation is taking time away from helping members; we have to be vigilant and ramp up our lobbying efforts.
The crisis now facing credit unions is best solved not with an “insurance” mindset but a capital one, keeping credit unions operating and growing.
This applies as you consider what you really want from your overall Vendor Management Plan. To illustrate the point, I will use a comparison of building a house and building your Vendor Management Plan.
APL FCU in Maryland leveraged the CARD Act to teach their members about responsible credit card practices. They’ve seen new outstanding card balances triple from the year prior.
Insurance funds like the FDIC were set up to pay off relatively small claims, not solve problems during systemic failure. NCUSIF in 1984 and the CLF were set up differently, with capital. The financing now facing credit unions is best solved not with an “insurance” mindset but a capital one.
Deborah Matz had called the monthly meeting of the NCUA board to consider several proposals including the highly anticipated release of the detailed corporate regulatory proposal. However, the full proposal is currently available on CreditUnionsRising.com.
A legislative staffer outlines the right and wrong ways of working with lawmakers’ offices.
Unfortunately, lawmakers are capable of writing flawed legislation, but meeting with and guiding them is easier than you would think.
Leaders of all the organizations within the credit union system are stewards of a mutually endowed legacy. That legacy includes financial and physical resources, but it also includes the values and promises to each other that were the basis for accumulating the resources in the first place.
Last week Elinor Ostrom of Indiana University shared the Nobel Prize in Economics. Her insights speak directly to a critical issue in the credit union system today: the effective management of common resources.
On Friday, October 9, CUNA and NAFCU announced they were in agreement on a proposal to send to NCUA. However important this option will be in the evolution of the credit union system, it is not the most important capital priority for NCUA or the credit union system.
While participants spoke on a variety issues, four key issues seemed to resonate most often in their comments and questions. Here is a summary of these issues and selected comments from attendees.
Legislation and regulation now being considered might be more harmful than helpful; witness our troubles with the CARD Act. We need to be deeply engaged in the political process of shaping new laws so our members can lead better lives not more constricted ones.
If Congress wants to establish an agency protecting consumers from predatory financial services practices, credit unions should show their support. Mainly we’ve “been clean” and are likely to win new members.
Assumptions about over-drafting have changed. Rather than fight old battles, credit unions should acquire the tools to help members know their balances in real time.
The CARD Act restructured terms, reduced limits, increased rates and fees for credit cards. Gene Foley talks about the opportunity for credit unions in this market.
Last Thursday's, September 24th, NCUA Board meeting demonstrated the need for the Board to start asking some tough questions about numbers being presented to justify Board actions.
This is a rare opportunity for the credit union system to rediscover and state the cooperative values and mission for which everyone shares responsibility. Document your facts, share your experiences, be specific in your suggestions about what you believe needs to be done.
Credit unions should stand up for health-care reform - to help their employees, their own organizations, their country and their members.
Callahan & Associates
Few recent politcal issues have generated as much intense public discussion as health-care reform. Every American uses health care. Should credit unions be involved?
Rising health insurance costs batter credit union bottom lines. Credit union leaders should get involved to assure first, a logical debate and second, a levelheaded outcome.
Another governmentally-imposed tsunami has washed ashore! Legislation rolls in as quickly as ocean waves, drowning its victims under a storm-tossed sea of churning regulations.
In reading the NCUA's July 31 press release, listening to their August 11th webinar, and talking with Corporates about NCUA's unilateral change to the CLF's twenty-five year funding structure, an age old nursery rhyme came to mind.
Negative headlines about financial institutions are commonplace in our current national climate, but one issue in particular has risen above the din in the last few months.
The Credit Card Accountability Responsibly and Disclosure (CARD) Act, published on July 15th, was designed to protect consumers from predatory practices in credit card programs. Only recently have the full compliance implications surfaced. Many credit unions have been confronted with a host of last minute compliance issues as the bill's reach is all open end lines of credit, not cards alone.
The following is an edited version of remarks by NCUA Chairman Edgar F. Callahan and General Counsel Wendell Sebastian from two talks to credit union managers and to the credit union press. They discuss the capitalization plan and what credit unions have to do to make this new insurance system work.
NCUA’s abrupt change from collaboration to dictate, accompanied by the dramatic escalation of immediate expense write-offs, sent shock waves across credit union land.
The bill's reach is much greater than credit cards; all open end lines of credit are affected. The first implementation date driving the widespread concern is the August 20th initial compliance deadline for providing a 21 day notice for a periodic payment.
As if the whole mortgage mess of last year — “Let’s make our dollars at someone else’s expense while the getting’s good” – wasn’t bad enough, now we have a Congress with full knowledge that health care, energy consumption, and global warming all require serious attention nevertheless slinking to positions that only tinker at the margins.
Since credit unions were largely uninvolved with the practices that lead to the creation of the CARD Act, they are strongly positioned to benefit from the current environment as disaffected bank customers look to establish credit with financial institutions they can trust.
With the departure of the National Arbitration Forum and the American Arbitration Association, credit unions have an opportunity to emphasize their member-friendly credit card practices.
Language on reserving in H.R. 1151 could strangle credit unions in this economy; it
needs to be changed.
When the White House announced its intention to nominate Deborah Matz to the NCUA board and appoint her Chairman, a whole new world of possibilities was created.
Credit unions and auditors are taking a range of approaches to expensing the NCUSIF assessment.
The following questions were sent to creditunions.com and Credit Unions Rising for submission to this Wednesday's NCUA Corporate Credit Union Update call.
The following quotes show NCUA’s changing assessments of the collective obligation of credit unions (via NCUSIF) to U.S. Central Corporate Federal Credit Union. These statements lead to a critical question: when will credit unions get their money back?
As NCUA's oversight of the corporate network continues from the January 28, 2009 original pronouncement of a systemic problem, the unfolding events are similar to a tragedy entering its third act.
In converting the unneeded capital note at US Central, for which the entire system has already paid, into a revolving capital fund, the entire movement has access to positive options for correcting problems.
When the White House announced its intention to nominate Deborah Matz to the NCUA board and appoint her Chairman, a whole new world of possibilities was created. These include actions responding to the current crisis as well as whatever might accompany a change of leadership at NCUA.
As industry players await a GAO study on interchange fees commissioned via the recently passed Credit Cardholders' Bill of Rights (HR 627), credit unions are carefully watching to see what aspects of proposed legislation are likely to be enacted in the 111th Congress.
The last time Brooke spoke to Bill Clinton, she interrupted him to say: “But this credit union thing is all messed up. We’ve got to get that fixed.” Those are our marching orders.