NCUA Boardroom. (Photo: NCUA) NCUA Boardroom. (Photo: NCUA)

NCUA board members on Thursday approved a final rule that changes the asset threshold for assigning federally insured credit unions to the Office of National Examinations and Supervision (ONES).

Under the final rule, credit unions with assets between $10 billion and $15 billion will be assigned to the appropriate Regional Office for supervision. Those credit unions with $10 billion in assets that are currently supervised by ONES will continue to be supervised by that office. According to the NCUA, ONES will supervise credit unions that cross the $15 billion threshold. These changes will be effective on Jan. 1, 2023.

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Michael Ogden

Editor-in-Chief for CU Times.

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