ALEXANDRIA, Va. – NCUA, which is reviewing a proposed merger between a credit union and a bank, will begin collecting public input on rules to govern such unusual combinations.
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The NCUA Board next week will issue an advanced notice of proposed rulemaking on credit union mergers into non-credit unions, something the agency’s current regulations have little to say on.
The public process comes as NCUA and the Massachusetts Department of Banking are reviewing the proposed merger between Northeast Community CU and Haverhill Bank, both institutions located in Haverhill, Mass.
The NCUA Board is also expected next week to renew the interest rate ceiling on credit union loans at 18%.
