TITLE: National Credit Union Administration's Implementation of the Credit Union Membership Access Act of 1998

CIS-NO: 99-H241-24  
SOURCE: Committee on Banking and Financial Services. House  
DOC-TYPE: Hearing Retrieve the full text of testimony  
DATE: Feb. 3, 1999  
LENGTH: iv+395 p.  
CONG-SESS: 106-1  
ITEM-NO: 1013-A; 1013-B  
SUDOC: Y4.B22/1:106-1  
MC-ENTRY-NO: 99-16516  


SUMMARY:
Committee Serial No. 106-1. Hearing before the Subcom on Financial Institutions and Consumer Credit to examine National Credit Union Administration (NCUA) implementation of provisions of the Credit Union Membership Access Act of 1998 (CUMAA) relating to credit union membership and regulation issues.
 
Focuses on NCUA proposed final rule implementing CUMAA, including a provision setting a 3,000 member threshold for viable credit union size and its impact on the viability of small credit unions.
 
Supplementary material (p. 61-395) includes witnesses' written statements and written replies to Subcom questions, and correspondence.

CONTENT-NOTATION: Credit unions membership rules and regulatory revisions, Natl Credit Union Admin implementation review

DESCRIPTORS:  
   SUBCOM ON FINANCIAL INSTITUTIONS AND CONSUMER CREDIT. HOUSE;  CREDIT UNIONS; FINANCIAL REGULATION; SMALL BUSINESS; NATIONAL CREDIT UNION ADMINISTRATION; CREDIT UNION MEMBERSHIP ACCESS ACT

99-H241-24 TESTIMONY NO: 1     Feb. 3, 1999 p. 15-36, 90-163
 
WITNESSES (and witness notations):
   D'AMOURS, NORMAN E. (Chairman, NCUA)
   WHEAT, YOLANDA T.
   DOLLAR, DENNIS E. (both Board Members)
 
STATEMENTS AND DISCUSSION:
   Need to maintain strong small credit union sector within credit union system, with opposition to NCUA proposed final rule (related materials, p. 115-119); overview of NCUA implementation of CUMAA provisions, with elaboration on NCUA proposed final rule.
   Explanation of NCUA final rule requirements for economic viability of new credit unions and for groups to be in reasonable proximity to credit unions; differing views on NCUA final rule, including impact on small credit unions.
 
CONTENT NOTATION:
   Credit unions membership rules and regulatory revisions, Natl Credit Union Admin implementation review
 
 
99-H241-24 TESTIMONY NO: 2     Feb. 3, 1999 p. 37-47, 164-194
 
WITNESSES (and witness notations):
   PERLITSH, STUART (CEO, Glendale Area Schools Federal Credit Union, Glendale, Calif)
   PAINTON, ROBERT L. (Co-Manager, Irondequoit Federal Credit Union, Rochester, N.Y)
   ARANJO, CAROL (President, D. Edward Wells Federal Credit Union, Springfield, Mass.; representing National Federation of Community Development Credit Unions)
 
STATEMENTS AND DISCUSSION:
   Concerns regarding NCUA final rule, including membership threshold for viable credit union size (related materials, p. 185-194).
 
CONTENT NOTATION:
   Credit unions membership rules and regulatory revisions, Natl Credit Union Admin implementation review
 
TESTIMONY DESCRIPTORS:
   GLENDALE AREA SCHOOLS FEDERAL CREDIT UNION, GLENDALE, CALIF.
 
 
99-H241-24 TESTIMONY NO: 3     Feb. 3, 1999 p. 48-60, 195-395
 
WITNESSES (and witness notations):
   BERGMEYER, HARLEY D. (Chairman, President, and CEO, Saline State Bank, Wilber, Nebr.; representing American Bankers Association)
   ROBERTS, DIANA L. (President, Hershey Federal Credit Union, Hershey, Pa.; representing Credit Union National Association)
   GARRISON, JOHN D. (Chairman, President, and CEO, Walden Savings Bank, Walden, N.Y.; representing America's Community Bankers)
   CURTIN, J. RAYMOND (President and CEO, Empire Federal Credit Union, Syracuse, N.Y.; representing National Association of Federal Credit Unions)
   STENEHJEM, LELAND M., JR. (President, First International Bank and Trust, Fargo, N.Dak.; representing Independent Bankers Association)
 
STATEMENTS AND DISCUSSION:
   Opposition to NCUA proposed rule (related correspondence, court docs, p. 206-306); differing views on NCUA implementation of CUMAA provisions (related materials, p. 366-374).
 
CONTENT NOTATION:
   Credit unions membership rules and regulatory revisions, Natl Credit Union Admin implementation review
 
TESTIMONY DESCRIPTORS:
   AMERICAN BANKERS ASSOCIATION