NCUA Chairman Matz Addresses CUAD Summit
Shawn M. Brummer
Credit Union Association of the Dakotas
701-250-3966 or 701-220-2200
A brief “Meet & Greet” for the Credit Union Association of the Dakotas Board of Directors was held with NCUA Chairman Debbie Matz today, June 27, just prior to the General Session at the CUAD Summit in Rapid City, SD.
Matz then addressed the Summit audience, beginning with her personal ties to South Dakota: Matz’s husband and both of her children have worked in South Dakota at different times.
Beginning with the corporate crisis, Matz said it is a delicate balancing act between too much and too little regulation. It is especially difficult with regulations in the Dakotas, since there are such positive trends with credit unions growing stronger here: SD Loan delinquency is the 7th lowest in the nation, and in North Dakota, the 2nd lowest delinquency in the nation. Still, says Matz, credit unions need to be diligent.
In the future, said Matz, “NCUA will be re-allocating resources to those credit unions that pose a greater risk, and will be spending less time in well performing, smaller credit unions.” They will also be applying greater transparency with a more intuitive website, sharing more information. Credit unions may now receive the “NCUA Report” by signing up at their website. The report will clearly say what NCUA is doing, and why. She concluded by saying the goal of NCUA is consistent with the goals of credit unions: Stronger, safer credit unions with a vibrant future.
As Chair of the NCUA Board, Matz is the spokesperson for NCUA and oversees the regulation of federal credit unions and the administration of the federal insurance fund covering approximately 7,400 credit unions with over $900 billion in assets.
Headquartered in Bismarck, ND, the Credit Union Association of the Dakotas (CUAD) is the professional trade association serving 78 credit unions in North and South Dakota with assets in excess of $4.2 billion and nearly 450,000 credit union members. For more information about CUAD visit our website at www.cuad.coop.