Among other items are the participating credit union s financial capacity, accounting and policy requirements, internal controls and infrastructure. WesCorp will also provide education and training for participating credit union staffs and boards. Part 703 of the NCUA Rules and Regulations permits credit unions and others to apply for permission to participate in investment pilot programs. The intent of this provision is so NCUA can subsequently develop appropriate regulations and examiner guidance and training. WesCorp s application was approved under this provision.
Votes are unanimous unless otherwise noted.