With a new leadership team on the horizon, might a first task be to review the NCUA’s Mission Statement?
As now worded:
“Provide, through regulation and supervision, a safe and sound credit union system, which promotes confidence in the national system of cooperative credit.”
Proposed Reframing: Putting Ends First
Promote a national system of cooperative credit by chartering and supervising a safe and sound credit union network.
Thoughts?
Much better. Less focus on regulation and more focus on other options not to exclude regulation. Opens up other possibilities.
Develop a CU ownership advocacy compliment to the “consumer beware” engine.
Revamp insurance system to be less alarming and facilitate more consumer choice models. Lessen the one-size fits all over-burden on the system.
Separate insurance and regulatory field examiners. Replace with a triad of specific leadership oversight for finance, insurance, and regulatory.
Promote a new effort for industry to get ahead of internet retailing concepts. Rewrite CAMEL criteria for a new election by CU owners to select the appropriate design to go by.