Regulators Share Concern About Disappearance of Small CUs

HONOLULU–Two NCUA Board members said they share concerns over the disappearance of smaller credit unions. NCUA Vice Chairman Rodney Hood said the agency is “marshalling its resources” with workshops, technical assistance grants, partnerships with the National Federation of CDCUs and more, all aimed at making the small credit unions more vibrant. “We recognize in this current environment that the needs of a small credit union are vastly, vastly different from those of a large credit union,” Hood told NAFCU’s annual meeting. “I want to see small CUs succeed because I think they are the ones that really have the ability to touch the underserved, going against the payday lenders. They, in many instances, are the initial institutions that many of our underserved populations use.”