{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Credit Union Regulatory Guidance Including: NCUA, CFPB, FDIC, OCC, FFIEC","title":"NCUA Board Approves Rare Investment Pilot Program","html":"","width":"100%","height":180,"duration":181,"description":"Hello, this is Samantha Shares. Happy new Year!This episode covers N C U A Board’s Approval of a  Non-Registered Investment Fund Pilot Program The following is an audio version of that press release.    This podcast is educational and is not legal advice.  We are sponsored by Credit Union Exam Solutions Incorporated, whose team has over two hundred and Forty years of National Credit Union  Administration experience.  We assist our clients with N C U A so they save time and money.  If you are worried about a recent, upcoming or in process N C U A examination, reach out to learn how they can assist at Mark Treichel DOT COM.  Also check out our other podcast called With Flying Colors where we provide tips on how to achieve success with N C U A.And now the press release.NCUA Board Approves Non-Registered Investment Fund Pilot ProgramOn December 30th The National Credit Union Administration Board approved, by notation vote, an investment pilot program authorized under section 703 point 19 C of the N C U A’s regulations.The N C U A will permit up to 30 complex federal credit unions to engage in investment activities prohibited under part 703 but permitted by the Federal Credit Union Act. Note A credit union is considered \"complex\" if its total assets exceed a specific threshold set by the N C U A. As of today,the threshold is 500 million dollars or more in total assets. A L M First Financial Advisors, LLC., a Securities and Exchange Commission registered investment advisor, requested the investment pilot program.The requested pilot program would allow complex federal credit unions to invest in a series of non-registered investment funds comprised of consumer loans, as follows:The pilot fund would be comprised of permissible consumer loans for federally insured credit unions with maturities of less than 10 years and overnight investments.Federal credit unions must be complex and have a capital adequacy classification of well capitalized to invest in the fund and are...","thumbnail_url":"https://img.transistorcdn.com/DblKo84_Ha6-XOQnfj5k1wmxCkQHeB53BeeKc2eI7dM/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9zaG93/LzQ4MTk5LzE3MDM4/NTQxOTktYXJ0d29y/ay5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}