Deadline Extended for Credit Unions to Complete Regulatory Exam Survey
December 19, 2013
Dec. 19, 2013
CUNA and the Northwest Credit Union Association are calling on credit unions to complete the second-annual Comprehensive Survey on Regulatory Exams, saying a strong response rate will give advocates the data they need to push for improvements in the examination process.
Credit unions initially were asked to finish the survey — which addresses the most recent exam by the NCUA and/or state regulators — by Dec. 18. That deadline has now been extended to Friday, Jan. 10, when CUNA will run its first analysis on the responses it receives.
The online survey is available here. All responses will be kept confidential, and will only be reported in the aggregate.
“Advocating on behalf of credit unions to improve the examination process is one of the highest priorities of both CUNA and the Association. Addressing that priority requires that we be very well informed on what has been going on in examinations, both good and bad,” NWCUA President/CEO Troy Stang said in a joint letter to credit unions this week from Stang and CUNA President/CEO Bill Cheney. “That’s why it is so vital that you complete the survey.”
Through Dec. 16, only 22 credit unions in Oregon and 25 credit unions in Washington had responded to the survey. Last year, more than 50 percent of Northwest credit unions — 33 in Oregon and 56 in Washington — provided input. That was more than double the national average.
“If two-thirds of credit unions in Oregon and Washington respond this year, we will be able to provide the most up-to-date data to our regulators in an effort to continue to improve the exam process,” says John Trull, the Association’s director of regulatory advocacy. “Last year, a strong response gave us a statistically significant sample to use in our advocacy efforts.”
Subsequent meetings with the NCUA led to important changes, Trull says, including improvements to the Documents of Resolution procedures.
Trull says the Association will meet with NCUA Region V Director Liz Whitehead early in 2014 to discuss exam improvements. “A strong survey response will give us an evidence-based model to accurately represent the state of examinations in the Northwest,” he says. “Let’s once again demonstrate our commitment to improving the examination process with an overwhelming response to the survey.”
Questions? Contact Gary Stein: 503.350.2216, firstname.lastname@example.org.