In an exclusive Zoom call with the New York Credit Union Association and member credit unions Wednesday, Todd Harper, NCUA chairman, updated participants on the happenings at NCUA and shared insights about the impacts the pandemic has had on the agency and credit unions, and what the road ahead may look like.
Harper thanked credit unions for their efforts helping members during the pandemic, saying that he recognizes it has been “a tough road” for many and that the pandemic has changed everything from the way credit unions do business to the way the agency conducts exams.
“Credit unions have really risen to the occasion to help their members as first responders,” he said.
Harper also touched on the economy, saying it has improved a great deal in the past few months, but despite the improved outlook, credit unions may still face a difficult environment for some time, particularly as it relates to forbearances. He stressed that protecting the Share Insurance Fund is a top NCUA priority as is consumer financial protection and equitable access to credit.
Harper reiterated that economic equity and justice is vital to the credit union system and the entire democracy and that credit unions have “a moral obligation” to step up and help minority communities. “We want to make sure we lift them up, not keep them down,” Harper said.
Among the other topics discussed on the call were credit union management practices, use of technology, agency exams, regulatory guidance, the future of marijuana banking, the prompt corrective action interim final rule, shared branching facilities and more.
Calling Harper “a credit union guy through and through,” William J. Mellin, Association president/CEO, thanked him for his consistent willingness to work with credit union leaders across the country.
The entire call can be accessed on the Association’s website.