HIGHTSTOWN, N.J. – New Jersey Credit Union League President/CEO Paul Gentile commends NCUA for its effort to communicate with credit unions and streamline its regulations in his latest column featured on CUinsight. But Gentile asks of the regulator, why stop there?
In the column, titled “NCUA Delivers a Win with Small Credit Union Exam Streamlining, But Why Stop There?”, Gentile points out that NCUA has recently shown a willingness to work constructively with credit unions, especially with the launch of its new Small Credit Union Examination Program for CUs under $10 million. NCUA, in its own words, will spend less time and examiner resources examining small CUs with a “record of solid performance.”
“NCUA took a tremendous first step with its new Small Credit Union Examination Program for CUs under $10 million,” said Gentile. “Imagine if it eventually expanded this approach to larger CUs? Not only would agency resources become more focused on the areas of greatest need, but those CUs with a ‘record of solid performance’ would be able to spend more time and resources on keeping their solid records going strong.”
Gentile is a regular contributor to CUinsight. Look for his contributions throughout the year on the CUinsight Web site www.cuinsight.com.
Gentile’s column can be found in its entirety here.