Notes from NAFCU's Conference here:
Observed By The New Chairman...
Observed by NCUA Chairman JoAnn Johnson:
"Many want credit unions returned to their 'original purpose.' There were no limits on community charters or business lending in the original 1934 FCU Act. I would suggest you might want to take them up on it."
* On having just two NCUA board members: "There's an upside to everything. You only have two presentations to sit through, not three."
* Johnson said that 627 credit unions have signed up for NCUA's e-mail service. For info: www.ncua.gov.
...And By The Old Chairman
VANCOUVER, B.C.-The consulting firm formed by former NCUA Chairman Dennis Dollar is billing itself as a "full-service" operation, but it is primarily signing up credit unions as clients that are seeking to expand their charters. Kirk Cuevas, a partner in Alexandria, Va.-based Dollar Associates and Dollar's former executive assistant while at NCUA, said a key service the firm offers is informing credit unions what they can "realistically" serve.
"It's not just identifying a community, it's also demonstrating an ability to serve it and developing a business plan tailored to that community," said Cuevas. Cuevas and Dollar were both on hand for NAFCU's annual conference here, where they were seeking new business. "For the past seven years every community charter that was approved or not approved crossed our desks. We were two of the primary authors of the regulations coming out of the Credit Union Membership Access Act."
Cuevas said Dollar Associates has advised many CUs seeking expansions to investigate a TIP (Trade, Industry, Profession) charter. "It's a way for a credit union to focus on a common core, but also to diversify. Sometimes we talk a credit union out of a community charter and into a TIP charter."
Old Board Members Never Die...
Speaking of NCUA board members, there were as many former NCUA board members in Vancouver as there were current board members. Both NCUA Chairman JoAnn Johnson and Board Member Debbie Matz spoke to the meeting, while Dollar and former board member Robert Swan were also on hand.
See You Next Year In Vegas
NAFCU will hold next year's annual conference in Las Vegas.