NCUA has scheduled a webinar for Thursday, April 13, to help credit unions better understand share insurance and how member accounts are covered. Registration for this webinar is now open, and it is scheduled to begin at 2 p.m. ET and run approximately 60 minutes.
NCUA released its 2022 Annual Report, highlighting the agency’s activities, policy initiatives, and accomplishments for the past year, including its NCUA’s most significant initiatives in 2022 grouped into five categories.
NCUA released the March 2023 update of its Simplified CECL Tool. For credit unions that started using the Simplified CECL Tool in the first part of 2023, this release is to determine the credit loss expense from the date of adopting CECL until March 31, 2023.
Federally insured credit unions, overall, experienced continued growth in assets, shares and deposits, and loans during 2022, according to the latest Quarterly U.S. Map Review released by NCUA.
The NCUA Board approved its final rule on subordinated debt at its Thursday meeting. Board members also reiterated the safety and soundness of the credit union system in the wake of the Silicon Valley Bank collapse.
Total assets in federally insured credit unions rose by $108 billion, or 5.2%, to $2.17 trillion over the year ending in the fourth quarter of 2022, according to the latest financial performance data released by NCUA. Insured shares and deposits grew $50 billion, or 3.1%, to $1.68 trillion.
The NCUA Board will vote on a subordinated debt final rule at its March 16 meeting. The meeting will be streamed live on NCUA.gov, and will begin at 10 a.m. ET.
NCUA announced a $109.6 million distribution to more than 100 membership and paid in capital shareholders of the former Constitution and U.S. Central corporate credit unions and $68.6 million in dividends to more than 2,500 Members United and Southwest Corporate shareholders.
Credit unions can get valuable new information about loan risks on a March 22 webinar hosted by NCUA. Registration for “Loan Risks in a Changing Economy,” is now open. The webinar is scheduled to begin at 2 p.m. Eastern and last approximately 60 minutes.
NCUA issued a Letter to Credit Unions noting that the NCUA Board voted to continue the temporary 18% interest rate ceiling for loans made by federal credit unions, January 26, based on the authorities established by the Federal Credit Union Act.
Credit Union Magazine’s Spring 2023 issue features the 2023 Credit Union Heroes and examines CUNA-League advocacy priorities, board leadership, the impact of financial well-being efforts, fee-related compliance issues, predictions for the year ahead, and more.