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Texas Credit Union Commission Meetings on Budget, FOM, MBLs
Tuesday, July 5, 2016 6:55 AM

The Texas Credit Union Commission Rules Committee will meet on Thursday, July 7, at 1 p.m. at the Credit Union Department located at 914 East Anderson Lane in Austin. The Texas Credit Union Commission will meet on Friday, July 8, at 9 a.m. in the same location. 

The Rules Committee will consider adoption of proposed amendments concerning field of membership. The changes expand the definition of local service area to generally consist of one or more contiguous political subdivisions within reasonable proximity of a credit union’s offices. The amended rule also allows credit unions to include areas designated as a credit union development district in their field of membership regardless of location.

The Rules Committee will also consider the proposal and publication for comment amendments to the member business loan rule. The proposed changes provide parity with provisions of NUCA’s recently updated MBL rule.

Other items for discussion and possible vote:

  • Adopt amendments to 7 TAC Section 97.200 concerning the Employee Training Program.
  • Rule review of 7 TAC Section 91.7000 (Certificates of Indebtedness).
  • Rule review of 7 TAC Section 91.8000 (Discovery of Confidential Information).
  • Rule review of 7 TAC, Part 8, Chapter 151 (relating to Home Equity Lending Procedures), Chapter 152 (related to Repair, Renovation, and New Construction on Homestead Property), and Chapter 153 (relating to Home Equity Lending). These update legal references and provide consistent terminology.
  • Proposal and publication for comment on amendments to 7 TAC, Part 8, Chapter 153 of Home Equity Lending. The proposed amendments include updated legal references, technical amendments, and clarifications as to authorized lenders.
  • Adopt FY 2017-2020 Rule Review Plan.

On Friday the commissioners will hear the report from the Rules Committee meeting on the above matters. The Commissioner Evaluation Committee will report their recommendations related to the commissioner’s FY 2017 performance objectives and goals and explain the procedures that will be used in his 2016 performance review.

The Commission will discuss and consider the Department’s FY 2016 financial performance, operating plan and budget for FY 2017 and the status of the credit union system. The proposed budget is 7.8 percent over the FY 2016 budget, due primarily to increased staffing and merit increases for existing staff members to be competitive and retain seasoned employees.

The Commission will discuss, and possibly vote on, the Department’s weapons policy at Commission meetings.

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