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April 9, 2014 – Only 10 percent of credit unions responding to a survey for NAFCU's April Economic & CU Monitor said they thought NCUA's risk-based capital proposal is a sensible approach to controlling for risk.

The vast majority of survey respondents said they thought the proposed rule's risk weights should either be about the same as those of community banks (79.3 percent) or less stringent (17.2 percent).

The survey for this month's ECUM, released Tuesday, also addressed credit unions' financial literacy activities. Results are as follows:

• 87 percent of respondents said they provide financial literacy training to their members, spending an average of 178 hours per month on those programs.

• 93.1 percent of respondents said children are the most frequent beneficiaries of such efforts; 75.9 percent said home buyers were; and 72.4 percent said high-risk borrowers were.

• 82.8 percent of respondents said the financial training they offer addresses home buying; 69 percent said it addresses online financial tips, and 65.5 percent said it addresses overdraft avoidance.

Survey findings are detailed in the April edition of NAFCU's Economic & CU Monitor.