Tuesday, February 19, 2019

Community First CU's Aggregate MBL Limit Raised to 25 Percent of Assets

The Wisconsin Office of Credit Unions granted Community First Credit Union (Neenah, WI) an exception to the aggregate member business loan (MBL) cap, according to the Credit Union Activities Report.

The credit union applied for the exception from the aggregate MBL limit on August 28, 2018 and the Wisconsin Office of Credit Unions approved the exception on January 14, 2019.

The new aggregate MBL to asset ratio for the credit union is 25 percent of assets.

This is the second exception to the aggregate MBL cap for Community First CU.

On February 24, 2014, the Wisconsin Credit Union supervisor approved an exception to the aggregate MBL limit for Community First CU to make member business loans up to 18 percent of the credit union's assets, instead of the statutory limit of 12.25 percent of assets.

At the end of the 2018, the credit union was approaching the 18 percent cap with a MBL-to-Asset ratio of 17.85 percent.

This approval comes almost two years after Community First CU was denied a request on Janaury 23, 2017 for an exception from the aggregate MBL cap.



Posted by at
Labels: , , ,

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)
 

The content is provided for educational purposes only, with the understanding that neither the authors, contributors, nor the publishers of this site are engaged in rendering legal, accounting or other expert or professional services. If legal or other expert assistance is required, the services of a competent professional should be sought.

Comments appearing in response to articles appearing on this site do not necessarily reflect the views of the ABA. ABA makes no representations regarding the truth or accuracy of commentary or opinions that may be posted in response to the articles that appear on this website.

The inclusion herein of any link to a website, either in the text of an article or in a comment, does not denote any approval, sponsorship, or endorsement by the ABA, and ABA is not responsible for the content or opinions expressed on those linked websites or related commentary. This content is not licensed to third parties sites and is not affiliated with any third party site. Any reference to the author or this content on any third party site on the Internet is not authorized by the ABA.

It is the policy of the American Bankers Association to comply fully with all antitrust laws. Certain discussions should be considered off-limits, including those that contain competitively sensitive data such as price and cost information, or statements that could be construed as reflecting an attempt or desire to control or influence a particular market or markets. Future pricing or other prospective competitive information should never be shared.