Press

NAFCU statement on NCUA Board action to raise definition of “Small Entity”

WASHINGTON, DC (February 19, 2015) — National Association of Federal Credit Unions (NAFCU) Director of Regulatory Affairs Alicia Nealon issued the following statement regarding today’s National Credit Union Administration (NCUA) Board meeting, during which the board released a proposed rule that would raise from $50 million to $100 million the asset-size threshold for a designation of “small entity” for consideration of regulatory relief.

“We appreciate NCUA’s willingness to review the small credit union definition and provide more relief to all credit unions,” said Nealon. “However, NAFCU believes defining credit unions by an arbitrary asset size runs the danger of bifurcating the industry. We believe all credit unions deserve regulatory relief. We continue to hear from our members over that threshold of their significant compliance burdens.”

The National Association of Federal Credit Unions is the only national trade association that exclusively represents the interests of federally chartered credit unions before the federal government and the public.

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