NCUA’s Harper, federal regulators testify before House Financial Services Committee
CUNA highlighted the credit union system’s overall health and supported several NCUA-related priorities in a letter to the House Financial Services Committee Tuesday. The letter was sent for the record of the committee’s hearing on oversight of federal financial regulators.
“America’s credit unions are well-capitalized with a 10.7% net worth-to-asset ratio and an 8.8% equity capital ratio,” the letter reads. “The loan-to-savings ratio stands at 82.1%. The liquidity ratio (the ratio of surplus funds maturing in less than one year to borrowings plus other liabilities) was 11.5% in February of 2023, up from 11.1% in January. These statistics indicate that credit unions are healthy and stable.”
The letter also notes:
- CUNA continues to strongly object to any suggestion that the NCUA may need to charge a premium in the near future and/or that statutory changes to the NCUSIF funding guidelines are needed.
continue reading »