The Affiliates' staff represents the interests of Georgia credit unions with state and federal regulators. Staff gathers information from credit unions in order to formulate regulatory policy and respond to regulatory proposals. Staff members maintain working relationships with the Department of Banking and Finance, NCUA board members as well as the NCUA regional office.
Because regulations and policies adopted (or considered to be adopted) by NCUA and Georgia's Department of Banking and Finance can dramatically affect how credit unions operate, it is important to maintain communications between credit unions, Affiliates staff and regulators regarding key issues.
Getting involved in the monitoring, drafting and revision of government regulations means having a voice in the future vitality of Georgia credit unions. Participating in regulatory change means taking part in the formal comment process mandated by state and federal law. When an agency proposes a new regulation or an amendment to an existing one, a notice of this proposal must be published in the Federal Register or by state agencies along with the purpose of the proposal, the statutory basis for it and the proposed text. The notice in the Federal Register or by the state agencies also invites any interested party to submit written comments, views or opinions and gives a deadline for submission. The comments then become part of public record on the issue and are made available for public inspection.
The most important way that a credit union can help mold its regulatory environment is to take advantage of every opportunity to submit formal comments. This comment process is especially useful for regulators, who may not be familiar with aspects of the credit union operations, or who may be unaware of certain practices or procedures, unless they are informed by credit unions.
Click below to educate yourself on upcoming federal and state regulatory issues, analysis and how to write a comment letter. |
