Newsletter

News of Interest to Credit Unions Regulated by the Credit Union Department

Newsletter

No. 03-17 March 15, 2017

CUSO Registry Reaffirmation

As a reminder, credit union service organizations (CUSOs) have until

March 31 to complete their annual reaffirmation with the NCUA’s

CUSO Registry.

CUSOs can complete this required process online through the

registry at https://cusoregistry.ncua.gov. There is no fee to use the

CUSO Registry or to complete the reaffirmation process.

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CDFI Certification

Federally insured low-income credit unions can now apply for

certification as community development financial institutions

through the streamlined application process developed by the

National Credit Union Administration (NCUA) and the Community

Development Financial Institutions Fund. CDFI-certified credit

unions are able to apply for multiple funding programs offered by

the CDFI Fund in the form of financial and technical assistance grants

and bond guarantee programs. The Community Development

Financial Institutions Fund can be a critical funding source for credit

unions operating in low- to moderate-income communities.

NCUA will host three streamlined CDFI-certification application

rounds in 2017, the first began on February 13 and runs through

March 17. The second round runs from May 1 through May 26, and

the third round runs from August 7 through September 1.

Credit Union Department

914 East Anderson Lane

Austin, Texas 78752

Phone: 512-837-9236

Fax: 512-832-0278

Email: info@cud.texas.gov

Web Site: www.cud.texas.gov

CUD is the state agency that

regulates and supervises credit

unions chartered by the State of

Texas. The Department is

professionally accredited by the

National Association of State Credit

Union Supervisors (NASCUS)

certifying that CUD maintains the

highest standards and practices in

state credit union supervision.

Our Mission is to safeguard the

public interest, protect the interests

of credit union members and

promote public confidence in credit

unions.

* * * *

Credit Union Commission

The Commission is the policy making

body for CUD. The Commission is a

board of private citizens appointed

by and responsible to the Governor

of Texas.

Members:

Manuel Cavazos IV, Chair

Allyson “Missy” Morrow, Vice Chair

Beckie Stockstill Cobb

Yusuf E. Farran

Steven “Steve” Gilman

Sherri Brannon Merket

Gary D. Tuma

Kay Stewart

Vik Vad

Next Commission Meeting

Friday, March 10, 2017 beginning at

9:00 a.m. in the offices of CUD.

* * * *

March 2017 NEWSLETTER Page 2

Annual Credit Union Survey

The Department recently sent an email to each credit union containing a link to our annual online

survey. We are looking to examine our current performance across a range of issues critical to our

success. The best way to do this is by asking credit unions to participate in this survey and to provide us

with your opinion on how the Department is currently performing. Your responses will be completely

anonymous and analyzed in combination with other credit union answers. This survey will run from

Monday, March 6 until Monday, May 8. By participating in this survey you will be making an important

contribution helping the Department to improve and better serve the citizens of Texas. Your opinion

counts.

We appreciate your time!

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Cybersecurity Symposium

While there are many resources available to credit unions to enhance their cybersecurity preparedness,

credit unions may want to consider the Cybersecurity Symposium presented by NASCUS and CUNA.

This program, now in its fourth year, provides a venue for an exchange of information between

regulators, credit union executives, and IT professionals responsible for credit union information

security. The Cybersecurity Symposium is being held June 5 and 6 in San Diego, California. Information

is available at http://nascus.org/Cyber17/index.php.

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NCUA Seeks Comments on Alternative Capital

Credit union have been provided an opportunity to comment on alternative forms of capital that could

be used to meet required capital standards. The NCUA Board is considering changes to the existing

secondary capital regulation and whether to authorize federally insured credit unions to issue

supplemental capital instruments that would count toward a credit union’s risk-based net worth

requirement.

The advance notice of proposed rulemaking is available online here

. Comments must be received by

NCUA on or before May 9, 2017.

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Publication Deadlines

In order to meet the submission deadlines for the applicable issues of the Texas Register, it is necessary

for the Department to establish the schedule included below. Completed applications received after the

deadline for the month cannot be published until the following month.

Publication Date Application Deadline

April, 2017 Friday, April 14

May, 2017 Friday, May 12

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March 2017 NEWSLETTER Page 3

Applications Approved

Applications approved since March 15, 2017 include:

Credit Union Changes or Groups Added

Field of Membership Change – Approved:

InTouch Credit Union (Plano) See Newsletter No. 01-17

Persons who are members of Friends of Consumer

Freedom, Inc. that live or work in Collin, Dallas, or

Denton Counties, and members of their families

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Applications Received

The following applications were received and will be published in the March 31, 2017 issue of the Texas

Field of Membership Change Expansion:

Associated Credit Union of Texas (League City) – Persons who live, work, worship, or attend school in

and businesses and other legal entities in the Texas counties of Washington, Burleson, Lee, Fayette,

Austin and Waller.

Smart Financial Credit Union (Houston) – Employees who work for Nabors Corporate Services Inc.

EECU (Fort Worth) – Members of Tarleton Alumni Association to be eligible for membership in the credit

union.

Texas Dow Employees Credit Union #1 (Lake Jackson) – Persons who work, live, worship, or attend

school within the geographic boundaries of Dallas County, Texas.

Texas Dow Employees Credit Union #2 (Lake Jackson) – Persons who work, live, worship, or attend

school within the geographic boundaries of Tarrant County, Texas.

Texas Dow Employees Credit Union #3 (Lake Jackson) – Persons who work, live, worship, or attend

school within the geographic boundaries of Denton County, Texas.

Texas Dow Employees Credit Union #4 (Lake Jackson) – Persons who work, live, worship, or attend

school within the geographic boundaries of Collin County, Texas.

Comments or a request for a meeting by any interested party relating to an application must be submitted in writing within 30 days from the date of this

publication. Credit unions that wish to comment on any application must also complete a Notice of Protest form. The form may be obtained by

contacting the Department at (512) 837-9236 or downloading the form at http://www.cud.texas.gov/page/bylaw-charter-applications. Any written

comments must provide all information that the interested party wishes the Department to consider in evaluating the application. All information

received will be weighed during consideration of the merits of an application. Comments or a request for a meeting should be addressed to the Texas

Credit Union Department, 914 East Anderson Lane, Austin, Texas, 78752-1699.

March 2017 NEWSLETTER Page 4

This newsletter is produced monthly as a part of the Department’s continued communication outreach

with the credit unions it regulates. Delivery is generally provided by electronic notification of its

availability on the Department’s website.

Suggestions and comments concerning the newsletter or its content are welcomed.

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To learn more about CUD click http://www.cud.texas.gov or contact us at 914 E. Anderson Lane, Austin, TX 78752