The three-member governing board of the federal agency that regulates credit unions is poised to issue a proposed rule on charitable donation accounts during its open meeting May 25.
A bit of background: Charitable donation accounts are among the activities preapproved for federally chartered credit unions under the National Credit Union Administration’s incidental powers rule (Part 721 of the agency’s rules and regulations).
The only other item slated for next week’s board meeting is a briefing on the National Credit Union Share Insurance Fund (NCUSIF) quarterly report. Like the Federal Deposit Insurance Corp.’s (FDIC) Deposit Insurance Fund does for deposits in insured banks, the NCUSIF insures member deposits in insured credit unions.
The May 25 meeting can be attended in person and viewed via the agency’s YouTube channel. The meeting begins at 10 a.m. Eastern.