The NCUA board finalized a rule regarding loans to members and lines of credit to members at its Thursday meeting. The agenda also included a quarterly update on the National Credit Union Share Insurance Fund.
According to NCUA, the loans to members rule is designed to reduce regulatory burden, improve clarity and make compliance easier. CUNA supported the rule in its
The rule will become effective 30 days after its publication in the Federal Register.
The report on the share insurance fund indicated total income of $74.3 million and net loss of $67.3 million for the quarter ending Dec. 31, 2018 and total income of $302.9 million and net loss of $226.5 million for all of 2018.
The balance sheet showed total liabilities and net position of $15.85 billion, a decrease of roughly $800 million from Dec. 31, 2017.