NCUA awarded $3.1 million in Community Development Revolving Loan Fund grants to 142 low-income and minority depository institutions, ranging from $1,000 to $50,000 to credit unions in 40 states and the District of Columbia.
The NCUA Board finalized a loan participations rule and heard a quarterly National Credit Union Share Insurance Fund update at its Thursday meeting. The fund ended the quarter with a an equity ratio of 1.27%, and NCUA projects it to remain at 1.27% on Dec. 31, 2023.
The median growth rate in loans outstanding and membership at federally insured credit unions was positive over the year ending in the second quarter of 2023, while the growth rate in assets and shares and deposits was negative at the median, according to the latest Quarterly U.S. Map Review released by NCUA.
NCUA announced a $76 million distribution to paid-in capital shareholders of the former U.S. Central corporate credit union. With this seventh distribution, the NCUA will have returned $2.8 billion to former membership and paid-in capital shareholders and more than $360 million in dividends to shareholders.
Total assets in federally insured credit unions increased $82 billion, or 3.8%, over the year ending in the second quarter of 2023, to $2.22 trillion, according to the latest financial performance data released by NCUA.
Credit unions can get valuable information on a range of consumer compliance and fair lending topics during an upcoming webinar hosted by NCUA on Wednesday, September 27, at 2 p.m. ET, and will run approximately 60 minutes.\
Credit unions can learn how to use the power of technology to expand access to financial services at a Sept. 28 webinar hosted by NCUA. Registration is now open for "Fintech and ACCESS: Future Possibilities for Enhancing Financial Inclusion Through the Use of Technology,” starting at 2 p.m. ET.
CUNA joined the African-American Credit Union Coalition, Inclusiv, the National Association of Latino Credit Unions and Professionals, Leagues, and credit unions to offer suggestions on how NCUA can best support Minority Depository Institution (MDI) credit unions. NCUA proposed revisions to its interpretive ruling and policy statement on the MDI program at its June board meeting.
Credit Union Rock Stars are outstanding credit union professionals and directors from a wide range of disciplines who inspire and innovate to advance the missions of their credit unions. The 25 members of the 11th class of Rock Stars were selected for their exceptional creativity, innovation, and passion.