Changes at NCUA

On Wednesday, it was announced that National Credit Union Administration (NCUA) Board Members Todd Harper and Tanya Otsuka have been removed from their positions. While Board Member Kyle S. Hauptman remains in his role, these sudden developments leave our industry facing a period of uncertainty regarding the future of the NCUA and its impact on credit unions in Maine and nationwide.

While the full implications are still unfolding, please know that we are actively working to gather more information. We are in close contact with our partners at America’s Credit Unions and the American Association of Credit Union Leagues (AACUL) and are engaging with our congressional delegation.

In the interim, our League encourages you to review America’s Credit Unions FAQ document, which addresses an array of concerns that have been raised by credit unions over the past 48 hours.

We are monitoring the situation closely and will share updates as we learn more. If you need further assistance, please contact League Vice President of Governmental Affairs Robert Caverly.