NCUA

Jefferson Financial in Louisiana struck a deal to bring in $12 million in secondary capital, which is believed to be the biggest haul to date for a credit union. It could also embolden other credit unions to pursue similar fundraising efforts.

The approved budget is largely unchanged from the plan released during the public briefing last month.

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.