NCUA encourages qualified CUs to expand to underserved areas
The NCUA Friday encouraged credit unions to expand their services to underserved areas in a new Letter to Credit Unions. The agency noted that any federal credit union with a multiple common bond field of membership can include underserved communities, as defined by the Federal Credit Union Act, in its field of membership without regard to location.
“NAFCU appreciates the NCUA encouraging multiple common bond credit unions to expand their fields of membership to provide greater financial support to underserved communities as well as providing guidance for such expansions,” said NAFCU Executive Vice President of Government Affairs and General Counsel Carrie Hunt. “NAFCU believes all credit unions should have the ability to add underserved areas to their fields of membership and we will continue to advocate for Congress to make the legislative changes to do so.”
In the letter, Chairman Rodney Hood highlighted the NCUA’s Chartering and Field of Membership Manual, which describes how a federal credit union can apply for approval to provide service to an underserved community by developing and submitting a business plan that specifies how the credit union will serve the community.
“Expanding into underserved areas can also help diversify membership and increase a credit union’s lending opportunities,” wrote Hood. “Adding an underserved area to a federal credit union’s field of membership does not change the nature of a credit union’s charter.”
Read the agency’s full Letter to Credit Unions.
Add to Calendar 2021-01-26 14:00:00 2021-01-26 14:00:00 Preparing Your Board for the Coming Decade About the Webinar The average board member is now in the midst of, at least, their third major governance challenge. Most board members today played critical roles during the Great Recession, have overseen a change in CEOs, and now find themselves navigating an increasingly complex and unpredictable confluence of external variables. The potential role and capability of boards in the 2020s will undoubtedly be informed by the last ten years of governance practices. Many credit unions are preparing for a continued need to evolve their governance practices to meet the future needs of their more strategically capable organization. The pace of change will continue, one way or another. During this webinar, we will outline how several credit unions are preparing themselves today for the required governing role tomorrow. Who should attend: Board members Board Chairs CEOs Watch the Webinar On-Demand Web NAFCU firstname.lastname@example.org America/New_York public
Strategy, Marketing, Growth & Retention, Customer Engagement
CUNA Mutual Group
Add to Calendar 2021-01-22 14:00:00 2021-01-22 14:00:00 Paycheck Protection Program - What Credit Unions Need to Know About Round 3 This webinar will provide a detailed overview of all of the changes to the Paycheck Protection Program (PPP) as a result of the Economic Aid Act and the two new interim final rules issued by the Small Business Administration (SBA) on January 6, 2020. We will discuss key issues to consider when originating first time and second draw PPP loans, as well as the corresponding lender obligations. There will also be a discussion on how to handle requests to increase existing PPP loans as a result in changes to the rules and how to properly document loan increases. Finally, there will be a brief Q&A session at the end so that you can pose your most pressing questions. Key Takeaways Review changes to the PPP rules Discuss Second Draw PPP Loans Understand PPP Loan Increases Register Now For On-Demand AccessRegistration is complimentary, but you must register to attend.One registration gives your entire credit union access to the on-demand recording until January 22, 2022.Already registered? Go to the Online Training Center to view live. Who Should Attend? NAFCU Certified Risk Managers (NCRMs) NAFCU Certified Compliance Officers (NCCOs) Presidents and Chief Executive Officers Chief Lending Officers Chief Financial Officers Lending and finance staff Risk titles Compliance and risk staff Education Credits NCRMs will receive 1.5 CEUs for participating in this webinar. NCCOs will receive 1.5 CEUs for participating in this webinar. CPA credit information is below; recommended 1.5 CPE credits. CPA Certification Credit Information Reviewer: Josie Collins, Associate Director of Education, NAFCU Learning Objectives: Review changes to the PPP rules. Discuss Second Draw PPP Loans. Understand PPP Loan Increases. Program Level: Basic Prerequisites Needed: None Advance Preparation Needed: None Delivery Method: Group Internet-Based Recommended CPE Credits: 1.5 credits Recommended Field of Study: Regulatory Ethics National Association of Federal Credit Unions (NAFCU) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. Learn more. About Our Webinars Our webinars are streamed live from NAFCU headquarters near Washington, D.C. Your audio/video feed of the presenters includes presentation slides and downloadable handouts. You can easily submit your questions to the presenters at any time during the live broadcast, with no dialing over the phone! The audio and video stream directly through your computer. Web NAFCU email@example.com America/New_York public
Credits: NCRM, NCCO, CPE
Get daily updates.
Subscribe to NAFCU today.