WASHINGTON-Not surprisingly, NCUA Chairman Debbie Matz told CUNA's GAC the agency is focused on "addressing credit unions' immediate problems," but she also outlined other plans for longer-term member growth.
Matz said she is optimistic about the long-term prospects for credit unions, and believes as the economy recovers credit unions can begin looking further forward with their strategic plans.
Among other points made by the NCUA Chairman:
• NCUA is paying close attention to any and all credit unions with it believes are excessive holdings of fixed-rate, long-term mortgages.
• CUs should expand online service offerings as a means of reaching out to younger members and reducing expense ratios.
• CUs need to make more low-cost, short-term loans to consumers who "are currently dependent on often harmful payday loan providers." She said the agency hopes later this year to release a proposal that will make it more attractice to offer payday loan alternatives.
• Matz expressed support for expanding or eliminating the current 12.25% of assets cap on credit unions' member business loans.
• Matz said NCUA, in conjunction with CUNA's Technology Council, will host a webinar during the Spring on increasing use of technology.
• Finally, as Matz noted in a column in the Feb. 22 issue of Credit Union Journal, the chairman challenged credit unions to increase the number of members nationally to 100 million by 2015.
