ALEXANDRIA, Va.–NCUA Board Member Gigi Hyland, who chaired NCUA's Outreach Task Force, announced the results of a year's compilation and analysis of comments resulting from her series of town halls and other meetings.
In the end, the task force, comprised of agency officials, recommended to the board that NCUA continue its Member Service Assessment Pilot as part of credit unions' regular examination and 5300 Call Report process. The information would be published in aggregate and the agency would establish a method to share individual credit union information with that institution.
"The aim of the agency is to get a better understanding of member income levels and have it at the ready," Hyland said.
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Additionally, she announced that the task force found that the compensation of the three top executives at each credit union should be collected and release publicly in aggregate. However, the actual compensation for the top three would also be provided to the credit unions' membership.
The task force also determined that low-income designated credit unions should be determined by median family income, rather than median household income as is currently the practice, and that the agency's outreach programs, like Access Across America, should target all federally insured credit unions.
Hyland acknowledged that the board could take up some, all, or none of the report but not all the recommendations required a notice and comment period though the importance of the issues might warrant it.
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