NCUA Examiner’s Guide & COVID-19

While we are all getting tired of hearing “COVID-19” multiple times a day, this time it may help you when examiners come to visit.  On June 30, the NCUA updated its Examiner’s Guide to include a section on COVID-19. The section begins with “The COVID-19 pandemic may have a lasting impact on credit unions’ financial and operational conditions. Examiners should … Read More

NCUA Stabilization Fund Proposed Closure

From the NCUA – NCUA Board seeks comment on Stabilization Fund Closure and Share Insurance Fund Normal Operating Level Credit union system stakeholders are invited to comment on NCUA’s proposed plan to close the Stabilization Fund in 2017. To facilitate the closure and ensure the Share Insurance Fund has sufficient equity to absorb potential losses on NCUA’s claims against the … Read More

NCUA SL 17-01 Updated Compliance Risk Indicators

On March 29, 2017, NCUA released a supervisory letter in a Letter to Credit Unions (17-CU-02) that provides an updated list of Compliance Risk Indicators. The updated list builds upon the previous guidance issued in a 2002 Letter to Credit Unions. NCUA notes that the “updated list of indicators does not impose any new or higher supervisory expectations to credit unions.” … 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

NCUA Renames Office of Consumer Protection

The National Credit Union Administration published at 81 FR 76495 a notice renaming its Office of Consumer Protection (OCP). The new name, effective today, is the Office of Consumer Financial Protection and Access (OCFPA). Passwords to access the blog posts, and blog posts are only for NWCG owners and retained clients. These should not be shared outside of the credit union. Blog … Read More

Going Digital: Strategies for Providing Digital Services

NCUA’s Office of Small Credit Union Initiatives issued “Going Digital:  Strategies for Providing Digital Services,” which provides step-by-step instructions on creating a strategic plan for analyzing members’ needs and tailoring digital products to meet those needs.  The guidebook also details potential advantages and disadvantages to members and credit unions. While most of our credit unions provide a wide array of … 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