NCUA Emphasizes Importance of Having Strong Credit Risk Review Systems
In a recent bulletin, Loran Jackson NCCO, REGULATORY COMPLIANCE COUNSEL, NAFCU, described the qualities credit union Credit Risk Review Systems should have.
“…on May 8, NCUA signed on to a statement on credit risk review systems. This statement presents principles for establishing a system of independent, ongoing credit risk review in accordance with safety and soundness standards. “
TCT’s Credit Migration tool assures loan risk is managed appropriately by reporting those borrowers who are showing signs of possible loan default long before those borrowers show up on delinquency reports. Furthermore, TCT’s Credit Migration tool meets all the criteria described in the NAFCU bulletin described above.