Credit Union Advisory Council hasn’t met since 2014; regulator questions need for separate council

Sandy O’Loughlin, Commissioner of the Financial Institutions Division (FID), told the Sunset Committee the Credit Union Advisory Council created under NRS 672.29 has not met since 2014 and that the Division regularly engages credit union presidents and the Nevada Credit Union League for industry input.

"We have a very good relationship," O’Loughlin said, explaining that the Division hears directly from licensees and that the Council’s inactivity prompted the Division to question whether it remains necessary. She noted the council’s membership roster has not been updated and that some listed presidents no longer lead institutions.

Lisa Kuranta of the Nevada Credit Union League (earlier phone testimony) urged continuation of the council as a bipartisan, non‑regulatory body that fosters communication and proactive discussion of operational risks. Committee members asked whether the council chair exists given the long inactivity, whether appointments are current, and whether the advisory forum provides value distinct from the league and Division communications. Commissioner O’Loughlin said the Division remains open to convening credit unions as needed but recommended considering whether a formal advisory council remains useful given the current operating relationships.

Provenance: commissioner presentation and phone testimony by Nevada Credit Union League.