November 22, 2010
General Banking Services, Business, California, Credit Union, Financial literacy, Financial services, United States, Washington Comments Off on 12 CFR Part 701-Fiduciary Duties at FCUs
The proposed regulation clarifies the fiduciary duties and responsibilities of federal credit union directors. It is anticipated the final regulation will be forthcoming in mid-December.
The proposed rule would establish a “uniform fiduciary duty standard” for federal credit union directors. Directors would be able to delegate operational functions to management, but not the ultimate responsibility for these operations. More
November 2, 2010
General Agencies and Vendors, Associations, Banking Services, Business, Credit Union, Financial services, Savings account, United States Comments Off on Credit Union Efficiency
Community chartered credit unions on average have higher operating expenses and are less efficient than non-community credit unions and community banks. The data elements prove this. In order to be able to continue adding value and servicing the membership, making efficiency needs to be a top priority. Improving profitability and protecting net worth in the years ahead will require a commitment to improvements in efficiency.
October 28, 2010
General Asset quality, Banking Services, Business, Credit Union, Financial services, Loan, National Credit Union Administration, United States Comments Off on Small Credit Union Considerations
The term “small credit unions” is relative. That said, even when times are good, the “small credit union” tends to face challenges in a way that “larger credit unions”, another relative term, don’t. Speaking from experience, the pressures on the small credit union leadership looms large on a daily basis. The leadership must be intimately involved in all aspects of the operations. Regulatory burdens alone loom large for the small credit union. More
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