WASHINGTON, D.C. (July 11, 2024) – The Federal Financial Institutions Examination Council (FFIEC) today published data on 2023 mortgage lending transactions reported under the Home Mortgage Disclosure Act (HMDA) by 5,113 U.S. financial institutions, including banks, savings associations, credit unions, and mortgage companies.
The National Credit Union Administration (NCUA) has extended the deadline for applying for 2024 Community Development Revolving Loan Fund (CDRLF) grants to July 12. The agency will administer more than $3.4 million in CDRLF grants to the most-qualified applicants, subject to the availability of funds. The grants page on the NCUA’s website contains all necessary information for submitting an application. A webinar explaining how to apply for a CDRLF grant is available on the NCUA’s YouTube Channel.
The National Credit Union Administration (NCUA) issued one consent and two prohibition notices in June 2024, permanently prohibiting three individuals from participating in the affairs of any federally insured depository institution.
The National Credit Union Administration (NCUA) commemorated the 90th anniversary of the Federal Credit Union Act of 1934, signed into law by President Franklin Delano Roosevelt, which authorized the formation of federally chartered credit unions in all states.
The National Credit Union Administration (NCUA) released its annual Cybersecurity and Credit Union System Resilience Report today. The report provides an overview of the current cybersecurity threat landscape, highlights key cybersecurity initiatives, and details ongoing efforts to enhance cybersecurity preparedness and resilience within the credit union industry.
ALEXANDRIA, Va. (June 17, 2024) – For federally insured credit unions, assets and shares and deposits declined at the median over the year ending in the first quarter of 2024. At the same time, loans outstanding increased and delinquencies grew at the median, according to the latest Quarterly U.S. Map Review released today by the National Credit Union Administration.
The National Credit Union Administration (NCUA) has placed 1st Choice Credit Union in Atlanta, Georgia, into conservatorship. This decision was made in consultation with the Georgia Department of Banking and Finance.
The National Credit Union Administration (NCUA) has granted a federal charter and Share Insurance Fund coverage to Fair Break Federal Credit Union in Memphis, Tennessee. This marks the second federal credit union to receive a charter under the NCUA’s provisional charter pilot initiative.
ALEXANDRIA, Va. (June 3, 2024) – June is Minority Depository Institution Awareness Month at the National Credit Union Administration (NCUA), and the agency will feature activities and events highlighting the essential role MDIs play in their communities.
The National Credit Union Administration (NCUA) issued four consent orders in May 2024, permanently prohibiting the individuals named below from participating in the affairs of any federally insured depository institution.
The National Credit Union Administration (NCUA) has granted a federal charter and Share Insurance Fund coverage to Tribe Federal Credit Union in Minneapolis. This marks the first federal credit union to receive a charter under the NCUA’s provisional charter pilot initiative.
On May 13, 2024, Todd M. Harper, Chairman of the National Credit Union Administration (NCUA), announced that he will be temporarily stepping away from his daily duties to undergo and recover from back surgery. In a message to the agency's employees, Harper said, “Many of you have likely heard me say on several occasions that if you don’t take care of yourself, you can’t take care of others."
The National Credit Union Administration (NCUA) has taken action against three individuals, permanently prohibiting them from participating in the affairs of any federally insured depository institution. Sarah C. Conley, a former employee of Summit Federal Credit Union in Rochester, New York, Carlene Bartley, a former employee of Municipal Credit Union in New York, New York, and Esther A. Olson, a former employee of Educational Employees Credit Union in Fresno, California, are the individuals named in the prohibition notices and consent order issued by the NCUA in March...
The National Credit Union Administration (NCUA) disclosed its Office of Minority and Women Inclusion (OMWI) Annual Report to Congress for fiscal year 2023, underscoring the agency’s dedication to diversity, equity, inclusion, and accessibility. NCUA Chairman Todd M. Harper emphasized the agency's strong commitment, stating, "The NCUA has a deep commitment to diversity, equity, inclusion, and accessibility." He further linked this commitment to the historical role of credit unions in serving marginalized communities.Key highlights from the OMWI 2023 Annual Report to...
The National Credit Union Administration (NCUA) has announced that its four funds have received unmodified, or "clean," audit opinions for the year 2023. This information was revealed in the audited financial statements released by the agency's Office of Inspector General.The financial statements were audited by the independent auditor KPMG LLP and cover the National Credit Union Share Insurance Fund, the agency's Operating Fund, the Central Liquidity Facility, and the Community Development Revolving Loan Fund. These funds play a crucial role in protecting the deposits...
