Credit Unions Financial Condition Has Improved, But Opportunities Exist To Enhance Oversight And Share Insurance Management

Recent legislative & regulatory changes have blurred some distinctions between credit unions & other depository institutions such as banks. The 1998 Credit Union Membership Access Act (CUMAA) allowed for an expansion of membership & mandated safety & soundness controls similar to those of other depository institutions. In light of these changes & the evolution of the credit union industry, this report evaluated: (1) the financial condition of the industry & the deposit (share) insurance fund, (2) the impact of CUMAA on the industry, & (3) how the Nat. Credit Union Admin. (NCUA) had changed its safety & soundness processes. Also makes recommendations to the chairman of NCUA. Charts & tables.Hillman, Richard J. is the author of 'Credit Unions Financial Condition Has Improved, But Opportunities Exist To Enhance Oversight And Share Insurance Management', published 2004 under ISBN 9780756740252 and ISBN 0756740258.