CUNA-backed occupancy rule finalized by NCUA board

The NCUA board voted to finalize a CUNA-supported final rule that provides regulatory relief to credit unions by giving them more flexibility in managing their fixed assets. The rule is the second piece of CUNA-backed regulatory relief involving fixed assets finalized by the board in recent years.

The rule amends the regulations surrounding federal credit union occupancy planning and disposal of acquired and abandoned premises.

Specifically, the final rule:

• Modifies the definition of “partial occupancy” to mean occupation and use, on a full-time basis, of at least 50% of the premises by a federal credit union, or by a combination of the federal credit unions and a credit union service organization in which the federal credit union has a controlling interest; and

 

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