Newsroom

Back to the Newsroom
December 20, 2016

NCUA's occupancy rule effective Jan. 20

The NCUA's final rule on credit unions' investment in mixed-use buildings takes effect Jan. 20, according to a notice in today's Federal Register. The rule includes a NAFCU-backed provision allowing credit unions to comply by using at least 50 percent of the premises.

The NCUA Board finalized the rule during its open board meeting last week. NAFCU President and CEO Dan Berger thanked NCUA Board Chairman Rick Metsger and NCUA Board Member J. Mark McWatters for their leadership on the issue and for "heeding our recommendations regarding the occupancy rule."

The occupancy rule, formerly called the fixed-assets rule, includes NAFCU's suggestion to modify the existing definition of "partially occupy" so any federal credit union, or a combination of the federal credit union and a credit union service organization in which it owns a controlling interest, can meet the rule's requirements if it uses at least 50 percent of the premises within six years of purchase.

The rule also amends the excess capacity provision in the NCUA's incidental powers rule. The revision clarifies that federal credit unions may lease or sell excess capacity in their facilities but no longer requires that the federal credit union have a reasonable expectation that it will eventually fully use the excess capacity.

Related Resources

Complete NAFCU Credit Union Compliance Advertising Guide

Guides
Add to Calendar 2024-06-26 14:00:00 2024-06-26 14:00:00 Gallagher Executive Compensation and Benefits Survey About the Webinar The webinar will share trends in executive pay increases, annual bonuses, and nonqualified benefit plans. Learn how to use the data charts as well as make this data actionable in order to improve your retention strategy. You’ll hear directly from the survey project manager on how to maximize the data points to gain a competitive edge in the market.  Key findings on: Total compensation by asset size Nonqualified benefit plans Bonus targets and metrics Prerequisites Demographics Board expenses Watch On-Demand Web NAFCU digital@nafcu.org America/New_York public

Gallagher Executive Compensation and Benefits Survey

preferred partner
Gallagher
Webinar
Add to Calendar 2024-06-21 09:00:00 2024-06-21 09:00:00 The Evolving Role of the CISO in Credit Unions Listen On: Key Takeaways: [01:30] Being able to properly implement risk management decisions, especially in the cyber age we live in, is incredibly important so CISOs have a lot of challenges here. [02:27] Having a leader who can really communicate cyber risks and understand how ready that institution is to deal with cyber events is incredibly important. [05:36] We need to be talking about risk openly. We need to be documenting and really understanding what remediating risk looks like and how you do that strategically.   [16:38] Governance, risk, compliance, and adherence to regulatory controls are all being looked at much more closely. You are also seeing other technology that is coming into the fold directly responsible for helping CISOs navigate those waters.  [18:28] The reaction from the governing bodies is directly related to the needs of the position. They’re trying to help make sure that we are positioned in a way that gets us the most possibility of success, maturing our postures and protecting the institutions. Web NAFCU digital@nafcu.org America/New_York public

The Evolving Role of the CISO in Credit Unions

Cybersecurity

preferred partner
DefenseStorm
Podcast

AI in Action: Redefining Disaster Preparedness and Financial Security

Strategy

preferred partner
Allied Solutions
Blog Post