I was advised via email a check would be sent to me, and my job was to cash it and deduct 10% for my salary. The agency will require a complex credit union to have at least a risk-based capital ratio of 10 percent to be well capitalized. Also, NCUA is proposing to define a complex credit union as an institution with more than $100 million in assets. Section 1790d(c)(1)(A) of the FCUA talks about risk-based net worth requirements, not risk-based capital requirements. Furthermore, the components in the numerator of the risk-based capital ratio proposal do not align with the statutory definition of net worth.
The Government Accountability Office (GAO) in a July 2 report recommended that Congress should consider granting the National Credit Union Administration (NCUA) authority to examine third-party technology service providers for credit unions. A story appearing in the about the Veterans Administration (VA) targeting two branches of VAntage Trust Federal Credit Union for closure noted that the credit union branches have operated rent-free for years.
The report highlights that credit union trade associations and organizations that provide third-party services to credit unions have opposed granting NCUA examination authority over third-party providers saying that giving NCUA examination authority is an unnecessary intrusion into these entities’ operations. But the report notes that some providers offering services exclusively to credit union clients have rejected NCUA voluntary examinations.
The article pointed out that the credit union has not paid rent for 62 years at the branch located at the Plains Township VA Medical Center and also has occupied Mundy Street rent-free since opening the branch 17 years ago. From day-to-day banking to mortgages, investments and more, your credit union has all your financial needs covered. Every credit union in B.C. provides a complete array of financial products and services, with expert advice that always puts your needs first. Regardless of account size, credit union members are entitled to the very best – including the best rates, perks and offers available.
B.C. credit unions offer unlimited deposit insurance through the Credit Union Deposit Insurance Corporation of British Columbia. When it comes to protecting the safety of your deposits in full, there’s no safer place than a credit union. As a credit union member (and owner), you’re entitled to nothing less than the best customer service around. Once and for all, sub s banks owners pay taxes on bank earnings, and tha sub s bank has to account for it in their use of earnings and funds.