In his opening remarks, Chairman Hood provided HCUA members with a state of the credit union system and the National Credit Union Share Insurance Fund. He also detailed the agency’s efforts to provide regulatory relief, help credit unions address emerging risks, and support small, low-income, and minority credit unions during the ongoing COVID-19 emergency. He discussed the agency’s new financial inclusion initiative, ACCESS: Advancing Communities through Credit, Education, Stability, and Support.
Attendees submitted questions in advance of the roundtable, and Hood answered a number of them. Topics ranged from what to anticipate in 2021 from the agency, diversity, equity and inclusion efforts and a final rule addressing changes in chartering and field of membership, to the future of small credit unions, implementation of CECL, and the efforts underway to extend Central Liquidity Facility (CLF) adjustments beyond the COVID-19 relief legislation’s year-end deadline.
In follow up, HCUA is working with Hood to hold a discussion on member business lending and Paycheck Protection Program efforts, so Kansas and Missouri credit unions can share their experiences and efforts with business members.