Board Action Bulletin
Share Insurance Fund Posts $33.1 Million Ine that is net in Quarter
ALEXANDRIA, Va. (might 24, 2018) вЂ“ The National Credit Union management Board held its fifth meeting that is open of at the agencyвЂ™s head office today and unanimously authorized two items:
The main Financial Officer briefed the Board in the performance regarding the nationwide Credit Union Share Insurance Fund, which posted a web ine of $33.1 million into the quarter that is first mainly as a result of strong investment ine profits.
Brand Brand Brand New Payday Alternative Loan Will Give Federal Credit Unions Last Option
Federal credit unions will have a 2nd payday alternative loan choice under a proposed rule (component 701) authorized by the Board.
The proposed payday alternative loan choice wouldn't normally change the existing payday alternative loan system (starts brand brand new screen) , produced this year, but could be a product that is distinct. The product might have features to assist federal credit unions meet particular needs of certain pay day loan borrowers which are not met because of the present system and offer those borrowers by having a safer, less costly option to old-fashioned pay day loans.