WI CU Regulator Approved and Denied MBL Waiver Requests

The Wisconsin Office of Credit Unions approved one member business loan (MBL) waiver and denied another MBL waiver, according to the Credit Union Activities Report.

The Office of Credit Unions approved on May 31 a waiver request of Hayward Community Credit Union (Hayward, WI). The waiver was for six loans to exceed the the loan-to-value requirement. DFI-CU 72.07 sets the loan-to-value requirements for member business loans.

The state regulator also denied on May 24th a request from Verve, a Credit Union (Oshkosh, WI) for a waiver of the MBL rule. The credit union was seeking a waiver on the aggregate amount of business loans to a member or associated members.