Credit Union Exam Solutions Presents With Flying Colors

Explore the hidden risks credit unions face as they navigate the post-COVID landscape. Experts analyze rising commercial credit risks and the impact of student loan repayments on retail credit performance. They delve into concerns over office vacancies and shifting generational borrowing behaviors. Additionally, the discussion highlights emerging threats like fraud and ATM security, emphasizing the need for advanced risk management strategies. Tune in for valuable insights to stay ahead in this evolving financial environment.

Todd Miller, a seasoned expert with 34 years at the NCUA, shares his insights on optimizing Asset and Liability Management Committees (ALCO) in credit unions. He discusses best practices for creating effective ALCO charters and fostering governance culture. The conversation highlights the crucial roles of committee members and the evolving function of chief risk officers. Miller emphasizes the importance of proper structure, responsibilities, and reporting practices in mitigating financial risks and aligning governance with organizational goals.

Thomas Griswold, Managing Director at ALM First Financial Advisors, shares his expertise on navigating the evolving economic landscape for credit unions. He discusses the vital role of capital management and pricing risks effectively to maintain stability. The conversation highlights trends in loan growth, funding challenges, and the significance of liquidity post-rate hikes. Griswold also delves into the importance of talent retention strategies and the impact of mergers on the industry's future. Listeners gain practical insights into optimizing performance amid uncertainty.

Steve Farrar, former VP of the Central Liquidity Facility (CLF) at NCUA, shares his vast knowledge of this essential government entity. He explains how the CLF supports credit unions during financial crises, drawing insights from historical events like the Great Recession. The discussion also covers enhancements from the CARES Act, membership benefits for natural person credit unions, and strategies for effective liquidity management. Farrar emphasizes the importance of continuous liquidity support for credit unions facing economic challenges.

Todd Miller, a former consultant with the NCUA, brings his 34 years of expertise to discuss the essentials of board monthly packages. He highlights the necessary components for compliance with NCUA standards while addressing the unique needs of credit unions. Miller shares insights on risk management during challenging times and the balance between quantitative and qualitative data. He emphasizes the importance of clarity in board reporting, effective governance strategies, and adapting materials to ensure relevance in decision-making.

The podcast dives into the fallout from the Trump firings of NCUA board members, questioning the agency's ability to operate legally with just one member. Elizabeth Warren and Maxine Waters demand clarity on the agency's authority and the definition of 'essential functions.' The conversation highlights the potential regulatory crisis and the challenges of governance during emergencies. Listeners are encouraged to engage with the contentious political dynamics and oversight issues facing credit unions today.

www.marktreichel.comhttps://www.linkedin.com/in/mark-treichel/The National Credit Union Administration today placed Aldersgate Federal Credit Union in Marion, Illinois, into conservatorship. Member services will continue while the NCUA works to resolve issues affecting the credit union’s operations.Member deposits at Aldersgate Federal Credit Union remain protected by the National Credit Union Share Insurance Fund. Administered by the NCUA, the Share Insurance Fund protects individual accounts at federally insured credit unions up to $250,000. Member’s interest in all joint accounts combined is also insured up to $250,000. The Share Insurance Fund separately protects IRA and KEOGH retirement accounts up to $250,000. The Share Insurance Fund has the backing of the full faith and credit of the United States.Members may conduct financial transactions via phone by calling the NCUA Asset Management and Assistance Center at 512.231.7940 Monday through Thursday between 10:00AM-4:00PM Central. Those calls will be routed to the appropriate specialists. Members can continue to conduct financial transactions, such as depositing funds, making loan payments, and requesting share withdrawals during the conservatorship.Members with questions about the conservatorship may review the Aldersgate Federal Credit Union’s frequently asked questions posted on the NCUA’s website. Members with questions about their Share Insurance Fund coverage can find more information in the Share Insurance Coverage(Opens new window) section of NCUA’s MyCreditUnion.gov (Opens new window)consumer website.Aldersgate Federal Credit Union is a federally insured credit union with 811 members and reported assets of $10.6 million, according to the credit union’s most recent Call Report. Aldersgate Federal Credit Union serves the ministerial and probationary members, full time employees, local pastors, clergy persons and diaconal ministers under appointment of the bishop of the Illinois Great Rivers Conference of the United Methodist Church

Join Steve Farr and Todd Miller, both seasoned veterans from the NCUA and now part of Mark Treichel's team, as they delve into the nuances of risk appetite and management frameworks. They discuss the lack of guidance from regulators, provide insights on FDIC's proposed rules, and the essential components of risk management frameworks. Learn about the vital role of a strong risk culture and how it can make or break credit unions, alongside anecdotes that connect risk management principles to celebrated coaching methodologies. A must-listen for credit union professionals!

In a revealing discussion, Todd Miller, a former NCUA employee with 34 years of experience, dives into the complexities of NCUA's examination processes. He highlights the critical role of the Examiner's Guide and the National Supervisory Policy Manual, sharing personal anecdotes on their evolution and significance for credit unions. Miller also addresses transparency issues, such as the challenges credit unions face with redacted information, and offers insights on effectively navigating regulations and working with examiners for better compliance.

In a quirky tale, the host shares a dog-sitting mishap involving two pit bulls and a less-than-stellar execution of his plans. The storytelling humorously connects to the importance of following guidelines, both in pet care and the NCUA's regulatory processes. A surprising cancellation of the NCUA's June board meeting raises eyebrows, sparking a discussion on the agency's current leadership and communication strategy. Tune in for insights on transparency and the implications for stakeholders in the credit union world!