NCUA Letter to Credit Unions Loan Participations 

Sept. 23 was the effective date of the NCUA’s revised loan Participation Rule. To provide credit unions with further information, the NCUA published a letter to all federally insured credit unions (13-CU-07).

Some revisions to Part 701 and Part 741 of the NCUA rules include:

The letter to credit unions also provided a link to supervisory guidance on loan participation waivers.

The letter provides information on loan participation waivers, expectations of examiner review of waivers and overall compliance with the NCUA Rules and Regulations.

Also contained in the Supervisory Letter are requirements for a Loan Participation Policy and components of a Loan Participation Master Agreement. Credit unions should take the time to review these publications to ensure their participation program is compliant with the new requirements.

Submissions to Monitor may be emailed. Bryan Laviolette is the editor of Monitor. Contact him by email or call (800) 262-6285, ext. 233. The newsletter of the Michigan Credit Union League is published Monday mornings or Tuesday mornings when Monday is a holiday. There is no Monitor the week after Christmas and the week after the Annual Convention and Exposition. The MCUL reserves the right to edit submissions for clarity and space.
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