FOR IMMEDIATE RELEASE
Contact: Vicki Christner – CUNA Communications; 202; 329; 9950; firstname.lastname@example.org
Washington, DC (January 19, 2017) – The National Credit Union Administration Board unanimously approved an advance notice of proposed rulemaking to solicit comments on alternative forms of capital federally insured credit unions might use to meet capital standards required by statute and regulation at the agency’s board meeting today. CUNA will be working across the credit union system to ensure the agency receives important industry input.
“We thank the NCUA for taking the next step toward allowing credit unions to use alternative forms of capital for purposes of complying with the risk-based capital rule,” said Jim Nussle, CUNA president/CEO. “We look forward to working with the Leagues, credit unions and our Examination and Supervision subcommittee to make sure the agency gets the feedback it needs to continue to move forward. It is vital that credit union stakeholders carefully consider the questions put forth by NCUA, and to submit their comments on the matter during the comment period.”
With its network of affiliated state credit union leagues, Credit Union National Association (CUNA) serves America's credit unions, which are owned by more than 100 million consumer members. Credit unions are not-for-profit cooperatives providing affordable financial services to people from all walks of life. For more information about CUNA, visit www.cuna.org or follow @CUNA on Twitter. For more information about credit unions, visit www.aSmarterChoice.org and follow @asmarterchoice on Twitter.