NCUA headquarters, Washington, D.C.
The NCUA asked the public to weigh in on two information collection renewals as part of its compliance with the Paperwork Reduction Act of 1995. The agency’s notice, published Monday in the Federal Register, underscored both its oversight of credit union fidelity bonds and its own personnel security processes.
The first collection (OMB No. 3133–0170) deals with fidelity bond and insurance coverage, a statutory requirement under the Federal Credit Union Act. All federal credit unions must arrange adequate bond coverage for officers and employees who handle funds, providing an essential safeguard against fraud, embezzlement or insider abuse. The NCUA noted the process ensures “the safety and soundness of credit unions” and estimated the annual reporting burden at 11 hours across respondents.
The second collection (OMB No. 3133–0201) covers personnel security processing forms for NCUA employees and contractors. These background investigations and credit checks are required by federal law and multiple executive orders to verify that agency staff meet suitability and fitness criteria. The estimated annual burden for this requirement is 200 hours.
Public comments are due by Oct. 24, 2025, and the NCUA specifically invited feedback on whether the collections are necessary, the accuracy of its burden estimates and ways to reduce burden through improved technology.
For credit unions, the filing served as a reminder of the continuing importance of strong internal controls and compliance with fidelity bond coverage standards.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.