The NAFCU Journal January - February 2018 - 25

70
of

(TRID) amendments will be mandatory by Oct. 1.
What are some of the top challenges
NAFCU's compliance team hears about
from credit unions?
miles traveled
While it is not a new rule, NAFCU
visiting credit
continues to hear credit union operaunions
around
tions are challenged
by the Telephone
Consumer Protection
Act. country
We also keep
the
hearing about litigation risk relating to
the Americans With Disabilities Act and
websites, which will likely continue to be
an issue in 2018.

Over 100,000

implementation
models
NAFCU
and
First credit
SBA renew
union
Discussion with
partnership
meeting
HUD Secretary
to increase
with
2017
Credit
Union
Federal
Ben Carson
loans
Treasury
Tax
Exemption
Study
on
CU
housing
to small
Secretary
businesses
Mnuchin
The
credit union tax priorities
exemption saves U.S.
consumers $16B
annually and preserves
nearly 1 million jobs over
the next decade

26

6
%

329

What compliance resources are available to credit unions from NAFCU?
NAFCU's regulatory compliance team
offers a direct compliance assistance
increase
in our
program,
answering federal
regulatory
questions
fromcommunity
our members within a
social
24-hour window. We also write articles
for monthly and quarterly publications,
blog three times a week on the NAFCU
Compliance Blog, and create tools in
response to hot issues, such as our "Military Lending Act Compliance Guide"
and workbook version of the Cybersecurity Assessment Tool.
ECONOMIC
OUTLOOK
Curt Long, NAFCU
Chief Economist and
Vice President of
Research

Since the NCUA closed the Temporary
Corporate Credit Union Stabilization
Fund (TCCUSF) last year and wrapped
its assets and liabilities into the
National Credit Union Share Insurance
Fund (NCUSIF), how much money
is expected to be paid back to credit
unions? What is the likelihood of
future refunds from the NCUSIF?
NCUA estimates the 2018 refund to
be between $600 million and $800
million. The final amount will depend
on multiple factors, including insuredshare growth and investment yield
over the second half of the year, plus
changes to reserves. Additionally, any
changes to the expected cash flows
from the corporate legacy assets
or legal settlements could alter the

60

%

amount of
equity in thecredit
fund at the end
member
of the year.

unions have maintained a robust pace
of vehicle loan growth, that momentum
proposed regulation
union Congressional
will start to ebb. However, the housing
summaries
testimonies
Future NCUSIF
refunds depend on
market appears
poised to take off in
many factors, but chief among them is
2018. Supply constraints
have been
increase
inthe
the selection of the normal operating
main obstacle, but builder sentiment
research
downloads
level (NOL) for the NCUSIF in
remains report
high, and the
demographic
coming years.
If the NOL
is lowered
trends are supportive.
"Credit
unions
save Americans
sufficientlymoney.
in the near future,
I callcredit
on #Congress to
unions stand a good chance of seeing
As for interest rates, NAFCU anticprotect
#creditunions!
a refund. But
given the low
returns
ipates some flattening of the yield
to the fund's
investment portfolio
curve. The Fed ramped up the pace
#NAFCUCaucus
#grassroots"
and rising share growth, if NCUA
of tightening in 2017, and we expect
maintains an NOL at or near 1.39
two to three more quarter-point rate
percent, a refund would probably
increases in the federal funds target
108,837 social reach
require some significant improvement
rate in 2018. The Fed's tapering of
in the performance of the corporate
its balance sheet should place some
legacy assets or a large legal settlement
downward pressure on long-term rates.
on behalf of the failed corporates.
As a result, we see spreads narrowing
modestly, which
a challenge
NAFCU
wascould
thebeonly
Regarding the economic outlook for
for many credit unions.
trade association to
2018, what should credit unions be
stand
youtheto
oppose
aware of?
Readwith
more about
issues
and
OPPOSED
Auto lending has been critical to the
NAFCU's
2018
legislative and
regulatory
the
NOL
increase
and
NCUA'S
SHARE
loan growth credit
unions
have expepriorities at www.nafcu.org/priorities.
fight for the highest
rienced inINSURANCE
recent years, FUND
but that may
NOL
refunds
begin to fade
in INCREASE
2018. The market as aTCCUSF
Rebekah Rast
is NAFCU'spossible
senior associate
whole has plateaued, and while credit
director of communications.

2/
3

100+

regulatory comment and
legislative policy letters

THE NAFCU JOURNAL  JANUARY-FEBRUARY 2018

315%
more messages
sent to Congress
in 2017 grassroots
campaigns

31 specific recommendations
from NAFCU were included

25


http://www.nafcu.org/priorities

Table of Contents for the Digital Edition of The NAFCU Journal January - February 2018

Conferences
From the Chair
Advocacy Snapshot
Washington and Industry Briefs
Growth Strategies
Stepping Into the Future
A Clear Path Forward
Economic Outlook: It’s Complicated
NAFCU 2018 Vendor Directory
Executive Spotlight
Management Insight
Compliance Central
Inside NAFCU Services
From the President’s Desk
The NAFCU Journal January - February 2018 - Cover1
The NAFCU Journal January - February 2018 - Cover2
The NAFCU Journal January - February 2018 - 1
The NAFCU Journal January - February 2018 - 2
The NAFCU Journal January - February 2018 - Conferences
The NAFCU Journal January - February 2018 - From the Chair
The NAFCU Journal January - February 2018 - 5
The NAFCU Journal January - February 2018 - Advocacy Snapshot
The NAFCU Journal January - February 2018 - 7
The NAFCU Journal January - February 2018 - Washington and Industry Briefs
The NAFCU Journal January - February 2018 - 9
The NAFCU Journal January - February 2018 - 10
The NAFCU Journal January - February 2018 - 11
The NAFCU Journal January - February 2018 - 12
The NAFCU Journal January - February 2018 - 13
The NAFCU Journal January - February 2018 - 14
The NAFCU Journal January - February 2018 - 15
The NAFCU Journal January - February 2018 - Growth Strategies
The NAFCU Journal January - February 2018 - 17
The NAFCU Journal January - February 2018 - Stepping Into the Future
The NAFCU Journal January - February 2018 - 19
The NAFCU Journal January - February 2018 - 20
The NAFCU Journal January - February 2018 - 21
The NAFCU Journal January - February 2018 - A Clear Path Forward
The NAFCU Journal January - February 2018 - 23
The NAFCU Journal January - February 2018 - 24
The NAFCU Journal January - February 2018 - 25
The NAFCU Journal January - February 2018 - Economic Outlook: It’s Complicated
The NAFCU Journal January - February 2018 - 27
The NAFCU Journal January - February 2018 - 28
The NAFCU Journal January - February 2018 - 29
The NAFCU Journal January - February 2018 - 30
The NAFCU Journal January - February 2018 - 31
The NAFCU Journal January - February 2018 - 32
The NAFCU Journal January - February 2018 - 33
The NAFCU Journal January - February 2018 - 34
The NAFCU Journal January - February 2018 - NAFCU 2018 Vendor Directory
The NAFCU Journal January - February 2018 - 36
The NAFCU Journal January - February 2018 - 37
The NAFCU Journal January - February 2018 - 38
The NAFCU Journal January - February 2018 - 39
The NAFCU Journal January - February 2018 - 40
The NAFCU Journal January - February 2018 - 41
The NAFCU Journal January - February 2018 - 42
The NAFCU Journal January - February 2018 - 43
The NAFCU Journal January - February 2018 - 44
The NAFCU Journal January - February 2018 - 45
The NAFCU Journal January - February 2018 - 46
The NAFCU Journal January - February 2018 - 47
The NAFCU Journal January - February 2018 - 48
The NAFCU Journal January - February 2018 - 49
The NAFCU Journal January - February 2018 - 50
The NAFCU Journal January - February 2018 - 51
The NAFCU Journal January - February 2018 - Executive Spotlight
The NAFCU Journal January - February 2018 - 53
The NAFCU Journal January - February 2018 - Management Insight
The NAFCU Journal January - February 2018 - 55
The NAFCU Journal January - February 2018 - Compliance Central
The NAFCU Journal January - February 2018 - 57
The NAFCU Journal January - February 2018 - Inside NAFCU Services
The NAFCU Journal January - February 2018 - 59
The NAFCU Journal January - February 2018 - From the President’s Desk
The NAFCU Journal January - February 2018 - Cover3
The NAFCU Journal January - February 2018 - Cover4
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