RALEIGH, N.C.—In advance of revised capital plans and pending stress tests for large credit unions, the $28-billion State Employees' Credit Union said it has adopted a new Capital Plan commensurate with the recently published NCUA guidelines.
SECU contracted with Washington, D.C.-based Promontory Financial Group to develop its response to the new NCUA standards. The Capital Plan includes a strategic discussion of SECU’s business; a capital planning process that includes capital policy and capital planning practices, governance, internal control framework, and short-term and long-term plans for improvement, and a capital planning forecast and consolidated results, with detailed financial results under baseline and stress conditions, and key assumptions and sensitivities.