CUNA is hoping Thursday’s NCUA board briefing on the NCUA guaranteed notes (NGN) program brings information about when Temporary Corporate Credit Union Stabilization Fund refunds can begin, as well as what can be done to maximize the amount returned. Thursday’s agenda also features a vote on the final CUNA-supported occupancy rule.
CUNA urged the agency in a November letter to move decisively in paying out refunds, which is made possible by the maturation of nearly $3 billion in NGN notes in 2017. In the letter, CUNA President/CEO Jim Nussle also asked the NCUA to establish a process to engage with stakeholders regarding the disposition of assets.
The final occupancy rule would change the NCUA’s fixed assets rule by not requiring full occupancy and allowing more flexibility in leasing and renting unused space. CUNA backs the change due to the additional flexibility it would give credit unions in managing fixed assets.
continue reading »