Almost a year to the date since Navy Federal Credit Union launched its commercial participation loan program, the country’s largest cooperative said it is ready for changes mandated by an NCUA rule even after the regulator recently extended a compliance deadline.

“Navy Federal is prepared for the Sept. 23 effective date of the NCUA loan participation rule, and we’re monitoring any possible impact the new ruling and effective date will have on other credit unions,” said Jim Salmon, vice president of business sevices at the $54 billion Navy Federal in Vienna, Va.

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