Happy St. Patrick's Day!
The NCUA Board today passed its final rule on subordinated debt, while also addressing the recent bank failures that have caused some concern for the overall health of the nation’s financial system. “We’ve been keenly interested in adoption of the subordinated debt rule as an important tool to aid credit unions eligible to participate in Treasury’s Emergency Capital Investment Program,” said League President/CEO Carrie Hunt, who attended today’s NCUA Board meeting in-person. “The rule also provides additional flexibility for credit unions interested in pursuing subordinated debt and makes minor modifications that make the process easier and more appealing to credit unions.”
League President/CEO Carrie Hunt wrote an editorial on the safety and soundness of the credit union system following high-profile failures in the banking industry. In it, she notes that credit unions remain a safe, sound and federally insured haven for Virginians seeking a financial services partner that puts them first.
Your League has a number of resources available to aid you in communicating with members about the safety and soundness of your credit union in the wake of recent failures in the banking industry, including talking points, a sample news release and a tool to help you maximize members' account insurance coverage.
Related: League Monitors Fall-Out from Bank Failures; Working with NCUA and Others
Help members maximize their share insurance! Our credit unions have access to the Account Insurance Estimator through League InfoSight to help communicate NCUSIF insurance coverage. Easily answer your members' questions about the availability of additional coverage.
The payments industry is constantly changing. Join your League and Fiserv on April 20 for an interactive Payments Workshop to learn how payments are the path to member engagement. Explore solutions that can help you mitigate risk, grow your business, and offer the cash and digital payment options consumers demand.
Related: Federal Reserve Announces July Launch for FedNow Service
The leader is the key to the success of any team. The leader shapes the culture, focus, and direction of the team and sets the expectation. The performance of any team is the direct result of the effectiveness of its leader. Through this workshop, leaders will learn how to shape employee mindset, develop effective behaviors, coach to skills, and improve results through coaching and accountability. While this May 24 in-person event is part of our EMERGE Leadership Certification, anyone can attend!
Rising rates and inflation, not to mention the recent shocks to the industry and market, could cause collateral values to suffer and highly leveraged borrowers to default. So, what’s hiding in your commercial loan portfolio could cause a shift in risk. This breakout session will focus on understanding how these and other economic factors play into risk management oversight, including best practices in stressing your portfolio. Join Dan Schleitweiler for a deep dive into this hot topic…