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Crippling budget cuts have left Arizona with just two credit union examiners to handle 22 state-chartered CUs.

The cutback, as well as freezes in examiner payrolls elsewhere, has caught the attention of the NCUA. In a speech April 30 to the Illinois Credit Union League, NCUA Chairman Debbie Matz, without mentioning reductions, warned that NCUA examiners will be going into state-chartered CUs “looking for red flags” even if an exam is not on the regular schedule.

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