To report suspicious or illegal activity by officials, employees, or members of a federally insured credit union.

 

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August 20: Disaster Recovery

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September 17: Mergers Best Practices

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October 15: Product Pricing

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November 19: Building a Loan Portfolio

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December 17: Internal Controls

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Webinars begin at 2 p.m. Eastern. For more information, click here.

  

  

The response to the second round of CDRLF grant funding was strong. More than 230 credit unions submitted applications in response to the funding round that closed last month. Funding requests were submitted for new products, staff training, CDFI certification, and collaboration grants. The table below provides a break-out of the applications by funding initiative.

 

 

Initiative	Applications (#)	Request Amount	Funds Available
Training	111	$333,000	$198,000
New Product	159	$1,042,500	$652,000
CDFI Challenge	65	$162,500	$150,000
Collaboration	8	$400,000	$200,000
Total	235 Credit Unions	$1,938,000	$1,200,000

 

 

We will notify applicants of their award status by August 1.

  

By Annette Moore, NCUA Consumer Access Analyst

  

The Massachusetts Division of Banks is helping state-chartered credit unions determine eligibility for the low-income designation.  Beginning in 2014, state examiners started obtaining a member address listing within the first week of arriving at a credit union to begin their examination.  The Division of Banks sent each of these listings to Consumer Access Analyst Annette Moore in NCUA's Office of Consumer Protection, and within 24 hours, received documentation of the eligibility results.

 

For qualified credit unions, the state examiners presented the results to the CEO and other credit union officials before leaving the credit union.  The state examiners also explained the benefits of the designation, answered questions and provided guidance on what the credit union needed to submit to receive the designation.

 

To date, eight state-chartered credit unions in Massachusetts have received the designation through this partnership. Several others are receiving assistance to determine their qualification.

  

 
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Outreach: OSCUI Director Myers attended the NCUA "Listening Session" in Los Angeles.  NCUA Chairman Debbie Matz hosts such events throughout the country as "an opportunity for NCUA Board members and senior staff to hear directly from credit union officials about how we can further improve regulations, the exam process, and any other NCUA initiatives."  Myers also moderated a panel, "Business Models for the LMI Market," at the National Savings Forum. Practitioners discussed viable business models with innovative savings products.  Click here to view the recording.

 

Impact Analysis Study: The Filene Research Institute conducted the first focus group under the Impact Study. The session was designed to elicit credit union feedback about the impact of OSCUI services on the credit union's performance. Credit unions will have additional opportunities to comment on their experience with OSCUI's services through interviews, another focus group and an online survey.  Stay tuned for additional announcements.

 

Dan Semore, an examiner with NCUA's Region III Office, recently completed a detail with OSCUI.  Dan assisted the Grants and Loans Program.  He has  been with NCUA for three years and is stationed in Jackson, MS.  He requested the detail to "gain a better understanding of the services available to small credit unions."  With this knowledge he hopes "to take what I learn into the field to help small credit unions utilize OSCUI's services."

 

CFPB seeks your input on how mobile technology works in the financial services market and how consumers, particularly economically vulnerable consumers, use technology to achieve their financial goals. Click here to participate.

 

1-800-FedInfo is the new number for the U.S. Financial Literacy and Education Commission telephone hotline. Consumers may use this number to direct questions about federal agencies, programs, benefits or services related to financial literacy and education. A trained specialist will be able to respond in English or Spanish.

 

NeighborWorks America is offering training for nonprofit lenders - August 18-22 in Orlando. It will provide training in community development and nonprofit management at the Orlando NeighborWorks Training Institute. The event will feature more than 100 courses such as Designing and Managing a Microenterprise Revolving Loan, Intermediate Underwriting for Micro and Small Business Lenders and Single-Family Mortgage Lending: Loan Servicing and Collections. Click here for details and to register.

 

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