How are CUs impacted by exams?

by NAFCU Newsroom

Following NCUA Board Chairman Rodney Hood’s announcement of coordinated efforts with state regulators to modernize the supervisory system, NAFCU is seeking insight into how credit unions prepare for examinations. Association-member credit unions can provide their feedback through this month’s Economic & CU Monitor survey; responses are due Friday.

The survey includes questions on the exam areas of focus, and the availability and accessibility of exam-specific guidance. The survey also includes questions related to the examiner’s level of experience.

NAFCU has numerous resources on NCUA exams available. In addition to recommending that the NCUA expand eligibility for an extended 18-month exam cycle for all well-run, low-risk credit unions, the association has also urged the NCUA to reconsider its approach to supervision and also better coordinate resources and expertise with other regulators, including state supervisory authorities. Earlier this year, the association asked for an  update on the agency’s exam modernization efforts.

 

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