The NCUA Board, at their January 2021 meeting, approved a proposed amendment to the CUSO Rule that would accomplish two important things:
1. Expansion of authorized CUSO powers to include all types of loans a federal credit union may originate
2. Granting the NCUA Board additional flexibility to approve permissible activities and services
The NCUA is also seeking comment on broadening FCU investment authority in CUSOs. Comments must be received by March 29, 2021, as the proposed rule change was published in the Federal Register this morning, with a 30-day comment period. We need your help and encourage you to submit written comments in support of the NCUA Board proposal, identified by RIN 3133-AE95 by any of the following methods (select one only):
Federal eRulemaking Portal: http://www.regulations.gov Follow the instructions for submitting comments
- FAX: (703) 518-6319 Include “[Your Name} – Comments on Proposed Rule: Credit Union Service Organizations (CUSOs)” in the transmittal.
- Mail: Address to Melane Conyers-Ausbrooks, Secretary of the Board, National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314-3428
- Hand Delivery/Courier: Same as mailing address.
We feel it is helpful to send copies to each of the NCUA Board members, as they only see a synopsis of the comment letters, so they can see your individual comments. You can email them to:
We have included a link to download a draft to assist in preparing your own comment letter. Feel free to edit, shorten or add as needed: Comment Letter Draft