FOR IMMEDIATE RELEASE

CONTACT: Vicki Christner – CUNA Communications; 202-508-6754; vchristner@cuna.coop

Washington, DC (July 23, 2015) –Jim Nussle, president and CEO of the Credit Union National Association (CUNA), issued a statement following the National Credit Union Administration (NCUA) monthly board meeting: 

“We’re pleased the NCUA board listened to CUNA and credit unions by removing the 5% fixed assets threshold,” said Nussle. “CUNA has long advocated for this change which will allow credit unions more flexibility in deploying resources to benefit their members. However, we will not have a complete picture of the true regulatory relief until NCUA provides credit unions with guidance. 

“It is also good news for credit unions that the NCUA confirmed today what CUNA has long been saying: there will be no stabilization fund assessment for 2015 and there is an increasing likelihood for a refund in 2021. 

“Additionally, CUNA supports any and all efforts for budget transparency by the agency. Much is needed to make the process work better for credit unions and their members.”