THE 'tude

At its Feb. 15, 2018 meeting the NCUA Board took up the issue of who would share in the distribution of excess monies that remained in the Corporate Stabilization Fund (CSF).

When it comes to performing risk assessments, it appears the credit union industry is doing them for just about every process, product, and service our coops offer including third party providers of home banking, vendor relationships, BSA, ACH, cybersecurity, IT infrastructure, disaster recovery and business resumption, core providers, etc.

When I speak with credit union peers who are originating mortgages and selling them into the secondary market, I often hear they are only selling through brokers’ channels or directly to the GSEs other than the Federal Home Loan Banks.

n addition to the obvious advantages of outsourcing certain credit union functions – cost savings, freeing up staff, enhancing member service – you can add one more.