NCUA

Louisiana-based credit union says its request is one of the largest ever approved by NCUA.

SDCCU’s member base increases 10.4 percent in one year, total assets up to $8.2 billion.

Eastern Maine Medical Center FCU now part of Acadia FCU after members approve.

Both CUNA and NAFCU filed briefs in response to the regulator’s proposed budgets, which continue to rise despite a shrinking NCUA workforce and a contracting industry.

The regulator is moving forward with a plan aimed at making it easier for credit unions to challenge supervisory decisions.

Credit union representatives on Wednesday praised the regulator for its newfound willingness to hear their concerns on the budget, but emphasized that 10 years of budget increases – during which time the number of CUs has shrunk by a quarter – is enough.

Under a joint order, lenders still have to document the value of properties in storm-affected regions, but they will not have to depend on appraisers.

The credit union regulator proposed a budget increase of 2.1% for 2018 and 1.5% for 2019, but expects net reduction of nearly 60 employees by 2019.

The focus has been on CUs getting at least some of their corporate stabilization assessments back earlier than expected, but NCUA's real goal is to prop up the Share Insurance Fund.

The NCUA is proposing a special payout of up to $800 million to credit unions next year, which may boost lending. Banks were uncharacteristically silent on the plan.