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Small CUs Recruited for Comments on Risk-Based Capital
Friday, May 16, 2014 6:50 AM

Credit Union National Association (CUNA) and the league are asking small credit unions with assets under $50M to develop a comment letter and file it with the National Credit Union Administration (NCUA) by the May 28 deadline for comments on its risk-based capital (RBC) proposal. Those small credit unions will receive an email from the chairman of CUNA's Small Credit Union Committee, Debie Keesee, who is also CEO of Spokane Media FCU.

In her letter, Keesee details how the substantially flawed proposal will have a significant negative impact on small credit unions. "If adopted as proposed, the rule will produce a disproportionate decline in the monetary and other support that larger CUs have historically provided to their smaller counterparts," says Keesee. "This will put additional strain on the finances and operations of many of the nation's smaller credit unions and essentially magnify the decline in credit union service to the nation's consumers."

Keesee goes on to offer four suggestions small credit unions can make for improvements in the proposal, should it not be withdrawn.

Commenting can be done relatively quickly, and Cornerstone urges credit unions to go online to CUNA's special RBC website where they can access the step-by-step comment process. Remember, NCUA's deadline for receiving comments is May 28. Please take some time today to add your comments on this most critical proposal.

For more information, go to: www.votervoice.net/CUNA/2/campaigns/34494/respond.