DCU Bulletin B-17-16

October 9, 2017 Electronic Exam Report Transmission The Division of Credit Unions (Division) is pleased to announce the transition of sending all examination reports through encrypted email for a more efficient process. The Division will begin sending all examination reports electronically beginning on November 1, 2017. If your credit union is unable to receive encrypted email with attachments, please contact … Read More

Risk-Based Exam Scheduling

On December 28, 2016, the NCUA released Letter to Credit Unions 16-CU-12, detailing their exam scheduling policy which goes into effect January 1, 2017. For state-charted, federally insured credit unions, the Letter details that: Credit unions meeting any one of the following three criteria will receive NCUA exams that will begin between 8 and 12 months from the prior examination … Read More

DCU 2016 Exam Focus

The Division of Credit Unions has published Bulletin B-16-02, which establishes their exam focus for 2016. The bulletin lists four focus areas for 2016: Cybersecurity This goes hand-in-hand with NCUA’s focus of cybersecurity risks. The DCU hired Security Compliance Associates (SCA) to assist them in performing IT security examinations. The main differences that credit unions will see in the Division’s … Read More

2016 NCUA Examination Focus

Akin to, the in-laws are coming, and they are bringing gifts… The NCUA issued Letter 16-CU-01 describing top areas of supervisory focus and will be part of the 2016 exam process.  The letter highlights: Cybersecurity Assessment NCUA encourages all credit unions to use the FFIEC tool to manage cybersecurity risks. NCUA also plans to begin incorporating the Cybersecurity Assessment Tool … Read More