ALEXANDRIA, Va. (2/2/16)--Moving to an extended examination cycle was the chief topic of discussion Monday between the Credit Union National Association (CUNA); Cooperative Credit Union Association President/CEO Paul Gentile, who chairs CUNA’s Examination and Supervision Subcommittee; and the National Credit Union Administration (NCUA).
Credit unions are currently examined on an annual basis, though NCUA Chair Debbie Matz said during the board’s January meeting that the agency will consider an extended exam cycle.
During the meeting, NCUA staff said they are committed to working with CUNA and state leagues on ways to potentially develop, implement and monitor an extended cycle. CUNA was represented at the meeting by Deputy Chief Advocacy Officer Elizabeth Eurgubian, Senior Director of Advocacy Andy Price and Senior Director of Advocacy Lance Noggle
CUNA’s Examination and Supervision Committee will meet with Larry Fazio, director of the NCUA’s Office of Examination and Insurance, during CUNA's Governmental Affairs Conference later this month to discuss the issue in more detail.
CUNA also encourages credit union leaders who will be attending CUNA GAC to bring up the idea of extended examination cycles during their meetings with the NCUA.