New York State Department of Financial Services · NY
Corporate Credit Unions and the National Credit Union Administration
October 28, 2010
Summary
The New York State Banking Department provided guidance to state-chartered credit unions regarding the evolving corporate credit union regulatory framework managed by the NCUA. The letter directs institutions to industry resources to assist in strategic positioning and alignment with updated federal corporate credit union oversight standards.
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Industry Letter
Corporate Credit Unions and the National Credit Union Administration
October 28, 2010
To Credit Unions supervised by the New York State Banking Department
As you are well aware, much has happened throughout the credit union industry this past year, especially as pertains to the Corporate Credit Unions. In order to help keep our state charters up to date regarding this issue, we are forwarding these web links that contain information to help you further understand the situation and begin to think about how you wish to position your institution in the future vis-à-vis the new corporate alignment.
National Credit Union Administration:
http://www.ncua.gov/Resources/CorporateCU/CSRMain.aspx
Credit Union Association of New York:
https://www.cuany.org/press/rel9-27-10CUANYTaskForce
Credit Union National Association:
http://www.cuna.org/newsnow/10/system092710-7.html
Please contact Marcel Baruth at (212) 709-1578 or Richard Cordner at (212) 709-1529 should you have further questions.
Very truly yours,
Martin D. Cofsky
Deputy Superintendent of Banks
Community and Regional Banks Division
Source: https://www.dfs.ny.gov/industry_guidance/industry_letters/il20101028_corp_credit_unions_and_ncua
Common questions
- What does "Corporate Credit Unions and the National Credit Union Administration" cover?
- The New York State Banking Department provided guidance to state-chartered credit unions regarding the evolving corporate credit union regulatory…
- Which agency issued this update?
- This update was issued by New York State Department of Financial Services.
- When was it published?
- It was published on October 28, 2010.
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