PORTLAND, Ore.—While NCUA has announced broad new MBL powers for credit unions, more than half of all CUs said they anticipate making minor to no changes in their current member business lending policies.
The findings were uncovered in a poll conducted by CU Business Group here.
CU Business Group said it asked 750 credit unions to participate in the poll and respond to the question, “When the rule is fully implemented, what level of policy/procedure changes do you anticipate your credit union will make?” Among the findings:
- One-third said they anticipated changing only a select few key items in their policies
- One in five said they did not anticipate making material policy changes at all
- 4% of credit unions said they anticipated making major changes
- 33% said they did not yet know what they would change
“We applaud the new regulation allowing credit unions to set their own risk tolerances and credit practices. It’s interesting to see that even with fewer regulatory restrictions the majority of credit unions do not plan to drastically revise their business lending policies,” said CUBG President/CEO Larry Middleman in a statement. “This shows that credit unions are focused on maintaining strong credit risk management parameters.”