CUNA tool helps credit unions calculate regulatory burden costs

Individual credit unions can now benefit from CUNA and Cornerstone Advisors’ groundbreaking regulatory burden study with the release of a new calculator tool Wednesday. The Regulatory Burden Calculator will allow member credit unions to replicate the study that comprehensively examined the financial impact of regulatory burden for credit unions nationwide.

“The Regulatory Burden Calculator is a great tool that will allow credit unions to assess the impact of regulations on their own credit union,” said Bill Hampel, CUNA chief policy officer. “CUNA commissioned a regulatory burden study to quantify the effect that rules and regulations have had on our credit union members, and we created this new tool to meet the further needs of our members.

“Credit unions want to better understand the impact of regulations on their credit unions–and now we’ve made the data available at their fingertips,” Hampel added.

The study found regulations cost the credit union industry $7.2 billion nationally: $6.1 billion in regulatory costs and $1.1 billion in lost revenue.

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