AUSTIN, Texas—Following a roundtable discussion Thursday with credit union officials from Texas, Arkansas and Oklahoma, NCUA Board Member J. Mark McWatters reiterated his position on the importance of the agency listening to credit unions.
In January, McWatters emphasized to CUToday.info that to regulate CUs effectively the agency needs spend time with CU leaders to understand the daily experiences of running a credit union.
“Listening to the concerns, ideas and suggestions of credit union representatives from all parts of the country is, in my opinion, the best way to gauge the pulse of the system,” McWatters said last week. “Only by understanding their positions on important topics impacting the way they run their businesses and serve their members can I effectively evaluate what comes before the NCUA board.”
McWatters was the key regulatory participant in the roundtable discussion, which was part of the Cornerstone Credit Union League’s Annual Meeting and Convention here, and attended by more than 900 credit union representatives.
McWatters addressed a wide range of credit union issues, asking participants to express their comments and opinions on topics including member business lending, the examination process, risk-based capital, stress testing and fields of membership.
“I will continue to participate in the type of forums where I can learn from those who have the experience of running a financial institution,” McWatters said. “I want to understand what they face on a day-to-day basis and what they need to better serve their members.”