Archive

Go to:

May 2018
SMTWTFS
12345
6789101112
13141516171819
20212223242526
2728293031
< Apr Jun >
Leaguer Email Subscription

You are not currently subscribed. Click Subscribe below to receive the Leaguer email.

Draft NCUA Strategic Plan Charts Direction for a Rapidly Changing Industry
Thursday, December 19, 2013 6:35 AM

Effective, balanced regulation that keeps pace with a rapidly changing credit union industry is the focus of the National Credit Union Administration’s draft 2014–2017 Strategic Plan, released yesterday for public comment by the agency’s Board.

“The credit union system and NCUA face a new financial services environment mindful of the lessons learned from the recent financial crisis,” NCUA Board Chairman Debbie Matz said. “Credit unions have seen strong growth in assets, loans and membership, and they are exerting an increasing influence on America’s economy. These changes present us with new risks and the obligation to keep pace with the industry. NCUA’s draft 2014–2017 Strategic Plan reflects both awareness of these changes and the continued commitment to strong, effective and balanced regulation to protect the safety and soundness of credit unions without hampering growth and innovation.”

The draft Strategic Plan 2014–2017, Matz said, is consistent with the priorities she established when she became Chairman in 2009. These priorities include being:

  • Recognized as a fair, effective regulator that sets the highest standards for safety and soundness;
  • An advocate of initiatives to protect members from predatory, unsafe financial products;
  • A regulator that ensures access to credit union service for all eligible members;
  • An agency that listens and encourages an exchange of ideas with the credit union industry while maintaining its independence;
  • A model corporate citizen that recognizes its responsibility to implement environmentally sound practices and procedures wherever and whenever feasible; and
  • An employer of choice that fosters positive relations with elected labor representatives.

NCUA’s draft Strategic Plan 2014–2017 recognizes credit unions are offering new services, adding members and diversifying portfolios, as well as new risk challenges that come with growth and change. These challenges include more and different products, diversified holdings, growing real estate concentration, rapid changes in technology, escalating threats to cyber-security and increasing member business loan portfolios. Each of these risks requires continual monitoring and mitigation strategies.

The draft strategic plan also addresses necessary changes NCUA will seek in the agency’s statutory authority in order to better fulfill its mission.

Interested parties are invited to review draft NCUA Strategic Plan for 2014–2017 and provide comments by Jan. 17, 2014. Comments may be e-mailed to strategicplanning@ncua.gov or mailed to:

National Credit Union Administration
Attn: OED Strategic Planning
1775 Duke Street
Alexandria, VA 22314

A copy of the draft NCUA Strategic Plan 2014–2017 is available on NCUA’s website.