What is NASCUS doing to achieve supplemental capital for credit unions?
Interest in supplemental capital is building as credit unions seek additional ways to raise capital to fight losses, adapt to the economic pressures, and manage increased deposits. A statutory amendment to the definition of net worth in the Federal Credit Union Act is needed to allow for this change. Following the definition change, state and federal regulators would develop regulations to govern and supervise supplemental capital for credit unions. NASCUS continues to encourage Congress to make the necessary change to the Federal Credit Union Act. We are also furthering our dialogue with NCUA, Treasury and the credit union system to build momentum and support. NASCUS has also testified before Congress numerous times about supplemental capital for credit unions and developed a white paper that presents three supplemental capital models. Further, NASCUS and state regulators have written to and met with Congressional leadership about the importance of capital reform for credit unions inc
