July 24, 2014

Fixed-asset reg tops July 31 NCUA Board agenda

July 25, 2014 – The NCUA Board released its agenda for its upcoming July 31 meeting, during which it will consider a proposed rule on federal credit union ownership of fixed assets and the Mid-Year Operating Budget, among other matters.

In a speech at NAFCU's Annual Conference and Solutions Expo in Las Vegas this week, NCUA Board Chairman Debbie Matz said the board will propose to eliminate the 5 percent cap on federal credit unions in fixed assets when it meets July 31.

NAFCU has long sought relief for federal credit unions from the 5 percent fixed-assets cap and has included it in the association's "Dirty Dozen" list of rules it would like to see improved or eliminated.

NCUA will also review its 2014 mid-year operating budget, the National Credit Union Share Insurance Fund quarterly report and its Guaranteed Notes performance budget. Also during the meeting, the board will consider a community charter expansion request from Call Federal Credit Union of Richmond, Va.

The open meeting will be held at 10 a.m. at the agency's headquarters in Alexandria, Va. It will be followed by a closed session that will examine share insurance appeals.

The agenda is available to view on NCUA's website.