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Texas CU Commission Meets June 18 and 19 to Consider Rule Changes on Investments, Fixed Assets, and Reserves
Friday, June 12, 2015 6:55 AM

The TCUD Rules Committee will meet on Thursday, June 18, at 2:00 p.m. in the Credit Union Department Building located at 914 E. Anderson Lane in Austin. The committee will be considering proposed changes to the Investments rule; Purchase, Sale, and Lease of Fixed Assets rule; along with the Reserves and Dividends rule. The Rules Committee will consider for publication and comment amendments to the following rules: 7 TAC Sections 91.802 Concerning Other Investments, 91.803 Concerning Investment Limits and Prohibitions, 91.805 Concerning Loan Participation Investments, 91.901 Concerning Reserve Requirements, and 91.401 Concerning Purchase, Lease, or Sale of Fixed Assets.

The TCUD staff are recommending the Commission readopt 7 TAC Sections 91.801 (Investments in Credit Union Service Organizations), 91.804 (Custody and Safekeeping), 91.808 (Reporting Investment Activities to the Board of Directors), and 91.902 (Dividends) without change.

To see the proposed amendments, agenda, and meeting materials, click here.

The Credit Union Commission will meet on Friday, June 19, at 8:00 a.m. at the TCUD offices. In addition to considering recommendations from the Rules Committee on the amendments considered on Thursday, the Commission will hear a report from the Commissioner Evaluation Committee on the committee’s recommendations of the procedures for the Commissioner’s 2015 Performance Review. For the evaluation packet, click here.

The Department’s FY 2015 financial performance will be reviewed, and the operating plan and budget for FY 2016 will be discussed and may be voted on at the meeting.

See the Commission’s agenda and all meeting materials here.

The meetings are open to the public.

Contact Texas Credit Union Association President Jeff Huffman at 469-385-6488 or jhuffman@txcua.coop for more information.