ARLINGTON, Va.–Meeting virtually, the National Association of State Credit Union Supervisors (NASCUS) hosted its third annual “Exchange” featuring regulators, credit union leaders and NCUA Board Chairman Rodney Hood.
According to NASCUS, the Exchange was developed to open a dialogue between state regulators and state and federal chartered credit unions to examine emerging issues. During two half-day, virtual sessions, the group discussed an array of topics, including diversity, equity and financial inclusion, mergers and acquisitions, accounting standards and troubled debt restructuring forbearance, auto lending, housing finance reform and more.
“The Exchange is solutions-oriented and this year’s meeting was particularly vital as regulators and credit unions are simultaneously navigating the uncertainty of the COVID-19 pandemic while preparing for the future of the financial services marketplace,” said NASCUS President and CEO Lucy Ito. “During our convening, system stakeholders openly addressed issues impacting credit unions and their members and offered ideas to strengthen the industry going forward.”
The Participants
Participants included state regulators from Connecticut, Florida, Georgia, Illinois, North Carolina, Texas, and Washington as well as credit union CEOs from Alliant, BECU, Navy Federal CU, Pentagon Federal CU, SchoolsFirst Federal CU, State Employees’ CU, Suncoast CU and Vystar.
NASCUS’ Credit Union Advisory Council chairman (TruMark CU) and vice chairman (Colorado CU) also attended, along with representatives from American Institute of Certified Public Accountants (AICPA), Financial Accounting Standards Board (FASB), CU Direct and Executive Vice President and General Counsel Brian Knight.