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Texas Credit Union Commission Meeting This Friday
Wednesday, July 12, 2017 7:00 AM

The Texas Credit Union Commission will hold its regularly scheduled meeting at 9 a.m. on Friday, July 14, in the Credit Union Department building located at 914 East Anderson Lane in Austin. Meeting materials can be found here.

New commission members are Jim Minge, CEO of Texas Trust Credit Union, and public member Rick Ybarra, development director for a private university in Austin. Current Commission member Missy Morrow, CEO of the RGV Credit Union, will assume the role of presiding officer of the Commission.

The commission will consider procedures for Commissioner Feeney’s 2017 performance review and goals and performance objectives for 2018. They will receive reports on the 2017 budget and financial performance, the status of the state credit union system, and legislative issues relevant to credit unions in Texas. The Commission will also consider and vote on the proposed 2018 operating plan and budget, which is $4,063,453—a 3.3 percent increase over 2017.

Pending matters to be discussed are the Credit Union Department’s previously recommended changes to procedures for petitioning for adoption or amendment of rules, the new "Rulemaking” subchapter, and clarification on examination frequency.

New business matters include consideration of the following proposed amendments:

  • 7 TAC Section 91.101: to provide clarification, better readability, and technical corrections concerning definitions and interpretations.
  • 7 TAC Section 91.115: to update notice requirements on user safety at unmanned teller machines.
  • 7 TAC Section 91.121 (b): to update consumer complaint notifications.
  • 7 TAC Section 91.205: to clarify credit union responsibility with proposed name changes to reduce risk of infringement or cause confusion.
  • 7 TAC Section 91.209: to eliminate the specific due date for submission of call reports to avoid any conflict or confusion if the NCUA should establish a different due date for submitting Form 5300.
  • 7 TAC Section 91.1003: to require credit unions to include a description in their merger plan of any arrangements providing a material increase in compensation or benefits, of any sort, to a board member or senior management employee in connection with the merger/consolidation.

Other new business is consideration of the proposed new 7 TAC Section 91.1010 concerning voluntary liquidations designed to provide guidance to credit unions when they are considering a voluntary liquidation of a solvent institution.

The commission will also consider vice chair and appointments to the rules and commissioner evaluation committees, as well as consideration of consent for the TCUD to participate in an alternate joint supervision pilot project with the NCUA.

For more information, please contact Texas Credit Union Association President Jeff Huffman at 469-385-6488 or jhuffman@txcua.coop.