ALEXANDRIA, Va. (7/19/13, UPDATED 11:42 a.m. ET )--To maximize operational efficiency, the National Credit Union Administration says it will re-align its regional supervision of federally insured credit unions in nine states, effective Jan. 1, 2014.
Under the new divisions:
"We continually monitor our regional workload and, when necessary, make adjustments to distribute exam hours proportionally," NCUA Chair Debbie Matz said announcing the upcoming changes.
"Several years ago, NCUA moved California, Nevada and several individual credit unions, for supervision purposes, to different regions.
"Now that the economic downturn has ended, with the economy gaining strength and with the credit union industry generally performing well, we are reconfiguring our regions to create geographically compact districts that better balance workload, improve efficiency and reduce travel costs by more than $900,000 per year," she added.
Also starting in 2014 and announced earlier this year, a newly created Office of National Examinations and Supervision will begin supervising the nation's largest consumer credit unions. The NCUA notes that the new office was created by the re-allocation of existing resources.