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NCUA Approves Proposed Fixed Asset Rule: Onsite Coverage

ALEXANDRIA, Va. The NCUA Board on Thursday approved a proposed rule that would eliminate the 5% fixed assets cap.

By Nicholas Ballasy | Updated on July 31, 2014
CFO Mary Ann Woodson faces the NCUA Board at the agency's monthly meeting on Thursday morning.

ALEXANDRIA, Va. —The NCUA Board on Thursday approved a proposed rule that would eliminate the 5% cap existing on fixed assets.

“An FCU that chooses to exceed the 5% aggregate limit may do so without prior NCUA approval, provided it implements a fixed assets management (FAM) program that demonstrates appropriate pre-acquisition analysis to ensure the FCU can afford any impact on earnings and net worth levels,” said the proposed rule approved at the board’s monthly meeting.

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