CUs Seek Flexibility in Serving the Underserved

NEW ORLEANS - A group of 84 credit union executives and officials offered sometimes stinging comments during the third of six NCUA Outreach Task Force “Town Hall” Meetings here Wednesday, fostering lively debate, but generally arriving at consensus on multiple concerns over effectively serving low-income members. The meeting, held in conjunction with the National Federation of Community Development Credit Unions’ 33rd annual “Serving the Underserved” Conference, considered four major issues derived from the Task Force’s 2006 report. Topics focused on NCUA’s regulatory role, low-income definitions and designations, data collection procedures, and the publication of executive compensation. Some criticism was leveled at examiners who failed to understand the challenges of serving members of modest means and seeming insensitivity to those members and their communities. The roundtable discussion groups urged NCUA to provide them with increased flexibility if they are to serve low income groups. The Filene Research Institute’s Bob Hoel moderated the session.