As NCUA Weighs Climate Risk, CU Official Joins New Advisory Committee

As federal financial regulators struggle with how to deal with climate-related issues, the Financial Stability Oversight Council (FSOC) has created an advisory committee to study those issues.

Among the members of the committee announced this week is Julie Renderos, executive vice president and CFO at Suncoast Credit Union in Tampa, Florida.

“In establishing this committee, we will leverage the expertise of those outside of government and work collaboratively to improve our collective understanding of how climate change may impact the financial sector,” Treasury Secretary Janet Yellen said, in announcing the move. “The newly established advisory committee will also ensure that state and federal policymakers hear from leading experts on climate-related financial risks.”

The NCUA has been struggling with the best way to deal with climate change. As a member of FSOC, agency Chairman Todd Harper supported the group’s 2021 statement that climate issues pose a risk to the financial system.

He singled out credit unions in high-risk areas, saying in March of that year that, “To remain resilient, such credit unions will need to consider adjusting their fields of membership or altering lending portfolios.”

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