NCUA placed Jackson Area Federal Credit Union of Jackson, Mississippi into conservatorship on May 6, 2026. At first glance the case looks unusual: this was not a credit union failing under the weight of bad loans or rising charge-offs. At year-end 2025 the credit union reported 9.2% net worth and 27.8% loan-to-assets. The numbers, on the surface, suggested a healthy institution. Numbers on the surface and reality are not always the same thing. After 33 years at NCUA — including responsibility...

In December 2024, the National Credit Union Administration Board approved a structure that credit unions had never previously had access to: a non-registered investment fund designed specifically to buy credit union consumer loans at scale. Last week, that structure produced its first trade. For credit unions thinking about liquidity deployment, balance sheet management, and the long arc of regulatory authority, this is a development worth understanding. A structure that sits between two...

Introduction Asset Liability Committees, or ALCOs, sit at the center of how a credit union manages interest rate risk, liquidity, capital, and increasingly, credit risk. But many credit unions are still running these committees the way they did fifteen years ago: with responsibilities scattered across three or four separate policies, ambiguous authority, and no clear answer to a deceptively simple question: who is actually allowed to make which decisions? In this episode of With Flying...