The Point: March 11, 2013

NCUA board to review fixed assets rule in Thursday meeting

The NCUA board will consider a proposed rule on federal credit union ownership of fixed assets during their open meeting this Thursday.

Credit union fixed asset regulations (Sec. 701.36) were one of many items on the agency's regulatory review schedule, which was released last year. The NCUA board last addressed Sec. 701.36 in May 2012, when they approved the elimination of the Reg Flex designation program.

The board will also review a community charter conversion request filed by Cinfed FCU (Cincinnati, Ohio).

For more information, view the full meeting agenda. Results will be posted on the NCUA website and reported in The Point this Friday.

Openings available in Hispanic Member Growth Strategy Program

Five New York credit unions are currently participating in the Credit Union Association of New York's inaugural Hispanic Member Growth Strategy Program, and three openings are still available for credit unions with $25 million-$500 million in assets.

The program is being offered in partnership with the New York Credit Union Foundation and Coopera and through REAL Solutions. Participating credit unions will receive a series of Hispanic outreach services/tools from Coopera, including: a one-time Hispanic Opportunity Navigator (HON) assessment; semi-annual member analysis reports; access to Coopera's extensive library of education tools, including marketing guides, templates and webinars; and an annual follow-up to the credit union's HON assessment (total value: $9,800).

Current participants include: Bridgeway FCU, Cooperative Federal CU (Syracuse), Entertainment Industries FCU, MSBA Employees FCU and Saratoga's Community FCU.

To learn more or enroll, contact Allison Barna, director of NYCUF/community development, at or (800) 342-9835, ext. 8134.

CUs encouraged to promote National CU Youth Week, Savings Challenge

Credit unions can promote saving and reward young members by participating in CUNA's National Credit Union Youth Week, which will be held April 21-27, and the National Youth Saving Challenge, which takes place during the entire month of April.

National Credit Union Youth Week promotes the benefits of youth saving and goal-setting by inviting youth to open savings accounts at their credit union and make deposits throughout the year. This year's theme is "Savings Sleuth: Solve the Mystery," and promotional materials are available on CUNA's website.

The National Youth Saving Challenge will reward 10 young credit union savers with $100 cash prizes. Credit unions can register for the Challenge by visiting CUNA's website.

Last April, 241 credit unions joined the Saving Challenge and engaged 125,867 youth, who opened 7,300 new accounts and deposited a total of $21.3 million in their credit union savings accounts.

National industry news & CUNA reports

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