NCUA Extends Comment Period on Corporate Rule Amendments

November 30, 2010
KEYWORDS corporates , ncua
/ PRINT / ShareShare / Text Size +

The National Credit Union Administration (NCUA) Board extended the comment period to Jan. 28, 2011, on the proposed corporate rule amendments issued at the November 18 NCUA Board meeting.

“We believe a 60-day comment period will balance the need for stakeholders to provide thoughtful feedback on the complex issues raised in our newly proposed corporate rule, while ensuring that the final provisions from both corporate rulemakings will take effect over a closely coordinated time frame,” said NCUA Chairman Debbie Matz. “The end result will be a corporate system that is better positioned to manage risks and safely serve member credit unions.”

The proposed amendments would require corporates to

  • Establish new internal control reporting requirements;
  • Form an enterprise-wide risk management committee staffed with an independent risk management expert;
  • Conduct all board of director votes as recorded votes; and
  • Disclose compensation received by certain employees who are dual employees of corporates and corporate credit union service organizations.

The proposed amendments also provide for the equitable sharing of Temporary Corporate Credit Union Stabilization Fund expenses among all members of a corporate and permit a corporate to charge reasonable one-time or periodic membership fees.

In addition, the proposal would amend 12 C.F.R. Parts 701 and 741 to limit natural-person credit unions to membership in one corporate at a time, beyond certain transition periods.

The corporate proposal is available here.

Post a comment to this story


What's Popular

Popular Stories

Recent Discussion

Great article! Unfortunately, most employees don’t feel valued or appreciated by their supervisors or employers. In fact, research has shown that the predominant reason team members quit their jobs is because they don’t feel valued. This is in spite of the fact that employee recognition programs have proliferated in the workplace – over 90% of all organizations in the U.S. has some form of employee recognition activities in place. But most employee recognition programs are viewed with skepticism and cynicism – because they aren’t viewed as being genuine in their communication of appreciation. Getting the “employee of the month” award, receiving a certificate of recognition, or a “Way to go, team!” email just don’t get the job done. How do you communicate authentic appreciation? We have found people have different ways that they want to be shown appreciation, and if you don’t communicate in the language of appreciation important to them, you essentially “miss the mark”. Additionally, employees need to receive recognition more than once a year at their performance review. Otherwise, they view the praise as “going through the motions”. A third component of authentic appreciation is that the communication has to be about them personally – not the department, not their group, but something they did. Finally, they have to believe that you mean what you say. How you treat them has to match the words you use. If you are not sure how your team members want to be shown appreciation, the Motivating By Appreciation Inventory ( will identify the language of appreciation and specific actions preferred by each employee. You then can create a group profile for your team, so everyone knows how to encourage one another. Remember, employees want to know that they are valued for what they contribute to the success of the organization. And communicating authentic appreciation in the ways they desire it can make the difference between keeping your quality team members or having a negative work environment that everyone wants to leave. Paul White, Ph.D., is the co-author of The 5 Languages of Appreciation in the Workplace with Dr. Gary Chapman.

Your Say: Who should be Credit Union Magazine's 2014 CU Hero of the Year?

View Results Poll Archive