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AFIAA 21 st Annual Meeting DEVELOPMENTS IN THE CREDIT UNION INDUSTRY Philip Elliott Chief Executive Officer Natio

AFIAA 21 st Annual Meeting DEVELOPMENTS IN THE CREDIT UNION INDUSTRY Philip Elliott Chief Executive Officer National Credit Union Ass Inc . NCUA CREDITLINK. Board of Directors. Board of Directors. NCUA (Trade Association). CREDITLINK (Business Services). Commercial Clients.

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AFIAA 21 st Annual Meeting DEVELOPMENTS IN THE CREDIT UNION INDUSTRY Philip Elliott Chief Executive Officer Natio

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  1. AFIAA21st Annual Meeting DEVELOPMENTS IN THE CREDIT UNION INDUSTRYPhilip Elliott Chief Executive Officer National Credit Union Ass Inc

  2. NCUACREDITLINK Board of Directors Board of Directors NCUA (Trade Association) CREDITLINK (Business Services) Commercial Clients Associate Members Member Credit Unions

  3. CURRENT DEVELOPMENTS IN THE CREDIT UNION INDUSTRY • Member Register • FSR • Capital • Taxation of Mutuals • Credit Unions in 2020

  4. MEMBER REGISTER • Competitor Activity • Privacy • Security Issues • Share Buying Scams

  5. FSR • FS 70/71 • Dollar Disclosure • Termination Values • Training Requirements • PDS’s

  6. CAPITAL • Scarce Resource • Three Developments • Is Partial Mutuality Likely

  7. TAXATION OF “MUTUALS” • Coleambally Irrigation Co-op • Distribution of Reserves on Winding Up • ATO Position

  8. CREDIT UNIONS IN 2020 • How Will They Look?

  9. ADI ASSET SHARE 2004 $ NAB 219.8 Commonwealth 218.0 Westpac 183.6 ANZ 165.1 St George 68.0 Suncorp-Metway 34.1 Credit Unions (All) 31.1 Bankwest 28.7 Macquarie 24.8 ING 19.8 Building Societies(All) 14.8

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