Ron McDaniel, CEO, California CU
"The business lending cap is important, but the current PCA process is very growth-inhibiting. CURIA will help."
McDaniel said he and other CU representatives have been working with Rep. Royce for more than two years on capital reform. "Risk-based calculations are a better way to go than secondary capital, and are more acceptable on a legislative level," he said.
Shruti Miyashiro, CEO Pasadena FCU
Miyashiro said she was impressed by the cooperative nature of a congressman, Ed Royce, and NCUA working together with credit union CEOs. "I will be interested to hear what they come up with regarding PCA. They both want to make the credit union charter attractive enough so that credit unions do not feel the need to convert to mutual savings banks," she said.
Grace Mayo, CEO, Telesis Community Credit Union "Everybody recognizes we need relief. Our regulations are so outdated. Member business lending regulations, NCUA's ability to change our PCA to more risk-based-these things give us back our ability to serve our members before 1151 imposed caps. CURIA is a good start, and I hope everyone in the industry realizes it needs to be passed," she said. "We need to tell our legislative body the importance of future opportunities that have been closed since 1151. I am encouraged, but I hope the rest of the states and our credit union counterparts get behind this legislation. It is more important than they realize."
