CUNA Issues Exam Guide
Many credit unions see examinations as necessarily evils. CUNA is hoping to make the process more tolerable and fair.
That's the association's purpose in releasing its 64-page booklet, "Supervisory Issues and Examinations: Guidance for Credit Unions During the Current Economic Times and Beyond."
Because of the financial crisis, the NCUA and some state regulators have increased the frequency of exams and have made them more rigorous. The NCUA is in the final stages of switching its examination schedule to at least once a year.
The NCUA didn't respond to the specific comments and recommendations in the booklet, but NCUA Chairman Debbie Matz said in a statement that "Credit union management and directors should always look at their role in the examination process as an active one, where a constructive dialogue between NCUA and the credit union can enhance safety and soundness and identify opportunities for improved service to members."
The publication also includes sections dealing with general duties of examiners, credit union examination concerns, handling disagreements with examiners and recommendations for both credit unions and the NCUA.
The booklet also outlines the NCUA appeals process, which Dunn said isn't always easy to discern on the agency's website and in the documents it gives credit unions.