Written by JiJi Bahhur, Regulatory Compliance Counsel
Yesterday, the NCUA released its July 2013 NCUA Report. Featured articles include the following:
- Office of the Chief Economist Report: Foreclosure Timelines Across the Nation Rise
- Chairman's Corner: A Win-Win for Credit Unions
- Board Actions: Loan Participation Rule Provides Flexibility for Credit Unions, Security for Industry
- Board Perspective: Pen, Paper, Stamp and a Little Time
- Office of Examination and Insurance Report: Credit Unions Shouldn't Overlook Early Withdrawal of CDs
If you have a chance, you can view the full report here. I just wanted to point out two items that kind of caught my attention. First, besides a summary of the changes under the new rule, the loan participation article provides some interesting statistics:
“Nearly half of all federally insured credit unions with assets of more than $50 million hold or sell loan participations. Over the last five years, the number of credit unions purchasing loan participations increased 15 percent, and the dollar value of loan participations on credit unions’ balance sheets grew by more than 40 percent. During that same period, loan participation charge-offs increased by more than 160 percent.”
The second item was the one-stop shop announcement on the last page of the report. NCUA’s website now provides high-resolution graphics and downloadable items – such as NCUA labels, logos, insurance brochures and signs – that credit unions may use on their own websites and social media channels.
“All of these graphics are available at no cost and can provide new and engaging content for your members.”
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