The NCUA Board voted unanimously in favor of four supervisory actions Thursday, including one that will change the definition of "small entity" in the Regulatory Flexibility Act from credit unions with less than $50 million in assets to credit unions with less than $100 million in assets.
At its open board meeting, the agency first approved the expansion of the community charter for the $342 million Charlotte Metro Federal Credit Union in Charlotte, N.C., to include 10 counties in the Charlotte metro area. The credit union previously served Mecklenburg County only.
Next, the board gave the green light on a rule proposed in April 2015 to exclude Central Liquidity Facility-related bridge loans from the aggregate unsecured lending limit and calculation of minimum capital requirements for corporate credit unions. CLF-related bridge loans are made by corporates to member credit unions that have been approved for a loan, but are awaiting funding. According to a memorandum, the board received seven comment letters on the proposal, all of which were in favor of it.
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Natasha Chilingerian
Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.
