League Asks Credit Union CEOs to Complete Risk Based Net Worth Survey
Credit Union CEOs in Massachusetts, New Hampshire, and Rhode Island received an e-mail recently asking them to participate in a very important survey designed to gather their thoughts and concerns regarding the NCUA’s proposed Risk Based Net Worth proposal. This proposal would mean that many credit unions that have a set percentage of loans in certain business lines would have to substantially increase the amount of capital that they hold.
In a message accompanying the survey, League President Paul Gentile wrote, “There is no more powerful way t o advocate with the regulators than with sold data.” He went on to explained that the data collected would be the basis of a regulatory comment letter that the League is preparing and asked for responses by March 14.
Credit unions that complete the survey will also be helping the League-supported charities in their states. Each completed survey will earn a $25 donation for the Massachusetts Coalition for the Homeless, Make-A-Wish® New Hampshire, or Special Olympics Rhode Island.