Benefits of Performing Portfolio Reviews
Over the past few years, there has been a dramatic increase in the number of members served by credit unions across the country. With this increase, there are also more relationships to maintain and more diverse problems—such as risk—to manage. Many credit unions have turned to portfolio reviews, which are, essentially, snapshots of your portfolio. Portfolio reviews can help assess both overall portfolio risk and individual account-level risk and help you to address any issues head-on.
Better Risk Identification
Monitoring Trends in Risk
Enhanced Account Management
Ultimately, portfolio reviews can provide greater intelligence on customer credit profile changes to help you strengthen risk management decisions and take action to improve performance.
CU PolicyPro Updates Recently Released
The second set of updates for 2012 have been released and were recently emailed to each credit union. This update includes three NEW policies, as well as 15 that have been revised.
One of the new policies is Loan Workouts and Nonaccrural Standards – Policy 3165 which includes the regulatory language from a recent NCUA ruling with a deadline of September 30.
This required policy contains several “Key Fields” so that it may be customized by each credit union: specifying who in the credit union will perform various functions, under what conditions your credit union will consider a loan workout and the maximum number of times closed-end loans may be extended, deferred, renewed, or rewritten.
For help in taking full advantage of CU PolicyPro, or for assistance in updating your manual with the new policies, contact PCUA Compliance & Operations Officer Elaine Royer at 800-932-0661, extension 5341, or by email at firstname.lastname@example.org.
Q: We are looking to reduce our mailing costs. How often are we required to send a statement to a member?
A: A statement must be provided to a member at least annually, unless an electronic fund transfer (EFT) occurs, in which case (under Reg E) a statement for each month in which an EFT has occurred must be provided, and at least annually if no transfer has occurred.
An EFT is any transfer of funds that is initiated through an electronic terminal, telephone, computer, or magnetic tape for the purpose of ordering, instructing, or authorizing a financial institution to debit or credit an account.
IRA Training Workshops: 2 Locations. 2 Days. Your Choice!
The Association’s IRA Training program puts you in the driver’s seat. Whether it’s getting new staff on board with the basics of IRAs or you need a more advanced training, the IRA Essentials & Beyond Essentials Training Sessions are the answer.
With training programs scheduled in Pittsburgh and Lancaster locations, and the option of attending just the IRA Essentials, Beyond Essentials or both, you can tailor the training for your needs. Your staff will leave confident and ready to provide the professional service your members are expecting.
For all the details, click here.
FREE WEBINARS from
NCUA Supervisory Guidance
Loan Workouts, Nonaccruals and Regulatory Reporting of Troubled Debt Restructuring
NCUA experts and representatives of consultant Growe Horwath will discuss supervisory guidance recently issued to examination staff about implementing the final rule on loan workouts and nonaccrual policy and the regulatory reporting of troubled debt restructured loans.
Click here to register today.
CMG Discovery Online Conference
Attend this third annual virtual one day conference from the convenience of your computer. Participate in several sessions, network with other credit union professionals, and have a chance to win fabulous prizes. Discover how much you have to gain, with minimal investment of time and absolutely no cost.
OSCI Consulting Services
The Office of Small Credit Union Initiatives (OSCUI) recently switched to a semi-annual enrollment system for selecting credit unions that participate in their Consulting Program. The consulting services are provided through a team of Economic Development Specialists (EDS). Credit unions with a low-income designation or having assets less than $10 Million are eligible for EDS assistance.
• Nominations may come from either NCUA staff or credit unions requesting assistance
For further information about OSCUI’s Consulting Program, please email OSUImail@ncua.gov
Pennsylvania Credit Union Association