Federal Credit Union Fixed Assets Proposal

The NCUA proposed an amendment to the fixed-assets regulation that eliminates the requirement that a federal credit union must plan for, and eventually achieve full occupancy of acquired premises.  If passed, the credit union must partially occupy (at least 50% by the federal credit union or the federal credit union and a CUSO) within a reasonable period, but no later than six years after acquisition.

No action is required on the part of the credit union, as the proposal only applies to federal credit unions.

https://www.ncua.gov/About/Documents/Agenda%20Items/AG20160421Item3b.pdf

Leave a Reply

Your email address will not be published. Required fields are marked *