PRESS RELEASE

Oct. 27, 2016

NASCUS PRESIDENT AND CEO LUCY ITO
ON SUPPLEMENTAL CAPITAL, IMPACT FOR STATE CU SYSTEM

Following discussion today at the NCUA Board meeting about preparing an advance notice of proposed rulemaking regarding supplemental capital for credit unions under risk-based capital, NASCUS President and CEO made the following statement:

“The state system will work closely with NCUA in addressing the tax exemption issue – and others. Supplemental capital is an important tool in enhancing credit union safety and soundness, and the state system must be part of the discussion to ensure that both federal and state credit unions have the opportunity to use this tool, and that neither be at a disadvantage. NASCUS has a long record of supporting this critical safety and soundness enhancement, and will continue to build that record.”

Information Contact:
Patrick Keefe, Vice President, Communications, pkeefe@nascus.org or (703) 528-5974

The National Association of State Credit Union Supervisors (NASCUS) is the primary resource and voice of the state governmental agencies that charter, regulate and examine the nation’s state-chartered credit unions. NASCUS membership is made up of state-chartered credit unions, state regulators and other supporters of the state credit union system. NASCUS is the only organization dedicated to the defense and promotion of the state credit union charter and the autonomy of state credit union regulatory agencies.