NASCUS Tackles Challenges Facing Industry As A Whole

FORT LAUDERDALE, Fla.–Everything from UBIT and Reg Z modifications to balance-sheet issues and secondary capital were on tap at the NASCUS State System Summit here. In-depth coverage will be in upcoming print editions, but here’s a quick sampling of news coming out of that meeting.* Just days before the fifth of NCUA’s six Outreach Taskforce Town Hall Meetings, NCUA Board Member Gigi Hyland said one of the themes that has emerged at these events is concern about making sure what happens on a policy level at the NCUA Board trickles down to examinations in the field.* Dr. Jim Likens, dean of Western CUNA Management school and professor at Pomona College emphasized that credit unions must beef up their marketing efforts in order to continue growing. In a nod to ongoing coverage at Credit Union Journal on how small credit unions can not only survive but thrive, Likens discussed some of the disadvantages smaller credit unions face but insisted that they are not “doomed.”* Filene Research Institute’s Bob Hoel was joined by Dr. William Jackson, professor of finance and management at University of Alabama, and Larry Fazio, deputy director of NCUA’s Office of Examination and Insurance, talked about an issue near and dear to credit unions’ hearts: secondary capital. Fazio suggested the agency is open to alternative forms of capital but its authority on this issue is limited.* CUNA Mutual Group’s Larry Blanchard said the UBIT Steering Committee he chairs is looking for the perfect plaintiff for litigation related to the IRS’ interpretation of what products and services come under the Unrelated Business Income Tax at state-chartered credit unions.All this and more will be featured in upcoming editions of Credit Union Journal.