MADISON, Wis. (8/7/14)--The Credit Union National Association and state leagues are reminding credit unions to share their examination experiences through CUNA's online survey.
The survey gives credit unions the chance to provide feedback to CUNA and state leagues on their most recent examinations by the National Credit Union Administration or state regulators.
"We are particularly interested in hearing from credit unions that have been examined since the last time they completed the survey, or that have not completed this exam survey," said CUNA interim President/CEO Bill Hampel.
Paul Gentile, head of CUNA's Examination and Supervision Subcommittee, added, "Each credit union should want its exam story to be heard through this survey so its individual experience is part of the whole narrative that CUNA is delivering to regulators." Gentile is president/CEO of the Massachusetts Credit Union League, New Hampshire Credit Union League and Credit Union Association of Rhode Island.
As of February, more credit union CEOs were satisfied with their exams (58%) than dissatisfied (27%), although this finding has slipped slightly from 2012's results of 61% and 25% (News Now March 27).
The ongoing survey covers topics such as the length of an on-site exam, the satisfaction of the credit union with the exam and the results, and problems areas--if any--noted by the examiner. CUNA has provided an optional section where credit unions can identify and rate individual examiners.
"Advocating on credit unions' behalf to improve the examination process is one of the highest priorities of both CUNA and the leagues," Hampel said. "Addressing that priority requires that CUNA be very well informed on what has been going on in credit union examinations, both the good and the bad. That's why it is so vital that credit unions complete the survey."
Survey replies are confidential, and identifying information from individual credit union respondents will not be seen by individuals outside of CUNA's Market Research Department. Only summary results will be reported.