N.H. CU leaders engage regulators at roundtable

October 8, 2015

MARLBOROUGH, Mass. (10/8/15)--New Hampshire credit union leaders met Tuesday with state and federal regulators to discuss regulatory and legislative issues facing credit unions during a roundtable at America’s Credit Union Museum in Manchester, N.H.

National Credit Union Administration (NCU) Supervisory Examiner Joanne Black updated the group on the New Hampshire credit union market, according to the Cooperative Credit Union Association (CCUA) CU Daily Scan (Oct. 7). 


Click image to enlarge. Credit union leaders in New Hampshire met with state and federal regulators Tuesday at a roundtable at America’s Credit Union Museum. (Cooperative Credit Union Association Photo)

Black noted that the state’s credit unions had a 94% loan-to-share ratio, driven partly by a 31% increase in indirect auto lending, which totaled $1.6 billion as of June. Credit unions must understand how they price indirect loans to ensure the portfolio performs positively, she said.

She also stressed that NCUA’s upcoming member business loan (MBL) revised regulation will reduce many operational barriers for credit unions. MBL lending in New Hampshire rose 3.8%, to $289 million in June.

Black also said that interest-rate-risk and cybersecurity are core issues of concern for credit unions and urged them to understand the Federal Financial Institutions Examination Council’s new cybersecurity tool.

Attendees also received updates from New Hampshire Banking Department Commissioner Glenn Perlow, Department Deputy Bank Commissioner Ingrid White and Department Examiner Olga Slutskaya.

The state regulators provided updates about the department, upcoming regulations, and implementation of a recent recodification of the state banking and credit union laws, and they received input about national regulatory issues facing credit unions, CCUA said.

Perlow emphasized the excellent health of the state’s credit unions, which have the lowest delinquency ratio in the nation and have grown membership at an annualized 4%. He also said the department strongly supports more transparency in how NCUA sets the Overhead Transfer Rate and supports a more extended examination cycle, a proposal that CCUA has advocated with NCUA.

White told credit unions to expect regulations implementing the state recodification bill to start being released to the industry in the coming weeks.

CCUA, which serves member credit unions in New Hampshire, Massachusetts and Rhode Island, also hosted an Advocacy Committee meeting featuring CCUA lobbyist Dave Collins.