Olden Lane

You’ve heard us talk about it before… We believe that credit unions are different. The quality of their mission, the values of key stakeholders, and the nature of their regulatory supervision vary from other financial institutions. We believe capital markets solutions should be carefully integrated to optimize outcomes and tailored to the unique needs of each credit union. And in today’s dynamic market environment, we work every day to ensure that our team’s breadth, depth, and expertise are a real boon to our clients. If your credit union could benefit from the high-touch service of expert technicians to help navigate today’s ever-changing landscape, please don’t hesitate to connect with us, we’re here and happy to talk.?

“Focus Amid Volatility” March 2025 Newsletter: A 100-word highlight ?? ??Tariffs, taxes, and regulatory uncertainty continue to dominate headlines, but credit union leaders must stay focused. Despite the speculation regarding tax-exempt status and regulatory reshuffling, we believe credit unions will remain independent and tax-exempt— major structural changes simply aren’t worth the disruption. ??The cost of funds is up, delinquencies are rising, and regulatory shifts could impact funding sources like the CDFI Fund. Credit unions need sustainable business models, not just external support. ??In the broader market, rate cut expectations, Treasury demand, and Fed policy are in flux. Volatility presents both challenges and opportunities —leaders must connect the dots across asset classes to stay ahead. ?? Join 3,500+ credit union professionals currently receiving our monthly newsletter or access it along with past issues easily on our site

In this month’s newsletter: The political landscape remains volatile, with speculation swirling around credit unions' tax-exempt status and the future of the NCUA. While headlines capture attention, we remain confident that credit unions will retain their exemption — the revenue gain simply wouldn't justify the disruption. For credit union leaders, stay focused on your core mission. Advocacy groups are well-equipped to navigate Washington's complexities, while leadership remains vital at home. In uncertain times, sound management is the best safeguard. ?? Receive our monthly newsletter and access past issues easily on our site

In a recent piece, Daniel Prezioso outlines four risk factors to consider as the new Administration’s policies begin to unfold: 2. Deregulatory Disappointment In Rulemaking, the National Credit Union Administration (NCUA) may struggle with responsiveness to the industry. During the first Trump term, under Rodney E. Hood, the agency was active in rulemaking, much of which was designed to implement deregulatory aspects of the Trump 1.0 agenda. The NCUA relieved regulatory restrictions on nonmember deposits and the use of derivatives for hedging, expanded access to the low-income designation and its related regulatory relief and provided clarity on subordinated debt rules that helped spring activity in the market. This time, the Trump Administration appears intent on centralizing rulemaking at the White House. That may limit this NCUA Board’s ability to implement welcome policies or respond to industry challenges with rule amendments in a timely manner. Take a look at Dan‘s QUICK READ OpEd, link in comments below ??

As we just wrapped up the?Governmental Affairs Conference in DC, several risk factors ought to be top of mind. Daniel Prezioso shares four to consider as the new Administration’s policies begin to unfold: 1. Regulatory Gridlock Ironically, governmental efficiency reforms may have negative externalities in the short-to-medium term in the form of regulatory gridlock. The Administration has offered?National Credit Union Administration (NCUA)?staff generous buyouts in return for resignations, insisted on them returning to the office and demonstrated a willingness to aggressively terminate federal staff where it meets resistance. It appears that this Administration intends to shrink the federal workforce aggressively. We suspect it will augment a smaller workforce with progressive automation techniques looking outward. In the meantime, the NCUA’s human resources may be strained considerably. In that case, examinations will remain the priority, while regulatory approvals for strategic decisions of credit unions (i.e. charter amendments, M&A transactions and capital raising) may suffer delays. Take a look at Dan‘s QUICK READ OpEd, link in comments below ??

Looking forward to seeing so many friends. If you’re in Washington DC for the Governmental Affairs Conference, we hope to say hello.?

“Doing things the same way tomorrow that we did them yesterday, because we did them that way, it just doesn't fly anymore. It’s an issue that must be confronted and we have to be straight up about it.” ??C suites are getting older, and we need to figure out how to get younger folks into this market ??C suites can be comprised from non-traditional backgrounds ??Let’s continue to push the envelope where it makes sense ??This is an exciting time in this business Quotes and excerpts from Michael Macchiarola ’s guest appearance on the recent With Flying Colors Podcast with Mark Treichel ?? Search: “With Flying Colors” wherever you get your podcasts to listen.

“We cannot, as an industry, get to a place where the words non-sufficient funds or overdraft are verboten.” This is a brief excerpt of the most recent With Flying Colors Podcast episode featuring our Michael Macchiarola As Mike explains, an honest discussion of fees has more nuance than we often allow. ?? Search: “With Flying Colors” wherever you get your podcasts to listen. Thanks for having us Mark Treichel!

Coming soon on the With Flying Colors Podcast with Mark Treichel, we dive into the 10 Themes for 2025. ? If the With Flying Colors Podcast isn’t already in your rotation, make sure to add the show to your feed. Excited for you to hear our conversation? ?? Search: “With Flying Colors” wherever you get your podcasts...?

Some food for thought on a set of changes that are coming fast and furious.