ALEXANDRIA, Va.—The NCUA board is set to meet on Thursday and will discuss a proposed rule related to public unit and nonmember shares, according to the agenda released by the agency.
Earlier this year, the agency's Regulatory Reform Task Force elevated the issue from a tier two to a tier one priority. In its original report, the task force recommended raising the non-member deposit limit from 20% to 50%, while noting that the change will "parallel the ability of credit unions to borrow from any source up to 50% of paid-in and unimpaired capital and surplus per Section 1757(9) of the Federal Credit Union Act," CUToday.info reported earlier.
The Federal Credit Union Act permits credit unions to accept nonmember deposits in limited circumstances, noted NAFCU in its analysis.
Also on Thursday's agenda:
- Share insurance fund quarterly report
- Board briefing, update on the Office of Credit Union Resources and Expansion (CURE)
The meeting is set to begin at 10 a.m. ET. CUToday.info will provide complete coverage.