Credit Union Department Newsletter, Number 04-20, April 2020 Page: 2
This periodical is part of the collection entitled: Texas State Publications and was provided to The Portal to Texas History by the UNT Libraries Government Documents Department.
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Sunset Advisory Commission Invites Public Input on the Texas Credit
Union Department (Continued)
The Sunset process has three stages. First, Sunset staff will evaluate the agency, seek public input, and
issue a report recommending solutions to problems found. Second, the Sunset Commission will hold two
public meetings: a hearing on the staff report and the agency, and a decision meeting to adopt
recommendations to the Legislature based on the report and public comments. Third, the Legislature
will convene in January 2021 and will consider Sunset's statutory recommendations in a Sunset bill for
the agency.
Here are several ways to provide comments and suggestions to Sunset staff on the Credit Union
Department's mission, operations, and services:
" Send an email to sunsetpsunset.texas.gov.
" Submit comments online at www.sunset.texas.gov.
" Send a letter to Sunset Advisory Commission, Attn: Credit Union Department, P.O. Box 13066,
Austin, Texas 78711.
" Call (512) 463-1300 to speak to Merrell Foote, project manager of the agency's review.
Please provide your comments by June 1, 2020 to ensure Sunset staff can fully consider your input while
conducting their review. Comments submitted before the staff report is published in August 2020 will
remain confidential.
Stay informed! Visit www.sunset.texas.gov to sign up for email alerts on the Sunset staff report and the
Sunset Commission's public meetings on the agency.
Asset Liability Management Review Time
The coronavirus has required credit unions to quickly adjust to a rapidly changing environment. Along
with determining how to best serve members and their financial needs, credit unions should also review
their asset liability management practices to ensure that sound decisions are made during this period of
uncertainty. Dramatic actions have been taken by the Federal Reserve in response to the economic
shutdown, including lowering interest rates by 150 basis points. Short-term interest rates are near zero,
and longer-term rates are not much better, with the 10-year Treasury Bond yielding only 0.75 percent.
Now is a good time to frequently review your loan, share and deposit rates, and investment decisions, to
ensure that they are appropriate for the current economic and interest rate environment.
Lower interest rates will put pressure on your net margins, as investment income and loan income will
fall. Additionally, with high unemployment and a likely recession, demand for auto and mortgage loans
will be weak. It will be important for credit unions to adjust their cost of funds and control operating
expenses to maintain profitability.~AyrL (2020 JWSL cT~( ~I( Page 2
.AprIC202 0
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Page 2
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Texas. Credit Union Department. Credit Union Department Newsletter, Number 04-20, April 2020, periodical, April 15, 2020; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1495310/m1/2/?q=%22Government+and+Law+-+State+Agencies%22: accessed July 9, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.