NCUA Boardroom. (Photo: NCUA)
NCUA board members are gearing up for their first meeting of the new year this week. The two agenda items include discussions about the Federal Credit Union Loan Interest Rate Ceiling and the NCUA's 2023 Annual Performance Plan.
The Federal Credit Union Act allows a default interest rate limit of 15% for federal credit union loans, but the law also allows the board to raise that ceiling if members deem it necessary. The last time the NCUA board voted on the interest rate ceiling was in June 2021 when the agency held the cap at 18% – a rate that has remained in place for more than three decades.
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
