PRESS RELEASE

NASCUS PRESIDENT AND CEO LUCY ITO
ON NCUA BOARD ISSUING ADVANCE NOTICE OF PROPOSED RULEMAKING
ON 'ALTERNATIVE CAPITAL

“The state system is encouraged by this action, particularly since it holds the potential for synchronizing federal rules with existing authorities already on the books for credit unions in 15 states, which is a long-time goal of NASCUS. There is much to be considered in the 50-page proposal, particularly the challenges it outlines. The state system, however, believes that these challenges can be overcome -- and that credit unions will ultimately have access to the tools they need to maintain safe capital levels during good and bad economic times.”

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.