The NCUA board approved a final rule modernizing service facility requirements for multiple common bond federal credit unions at its Thursday meeting. The board also approved a draft 2022-26 plan for NCUA and heard updates on the share insurance fund, modernized exam tools, and the COVID-19 pandemic response.

The final shared facilities rule includes—for the purposes of adding groups—any shared branch, shared ATM, or shared electronic facility in the definition of “service facility” for a multiple common bond federal credit union that participates in a shared branching network.

NCUA’s Strategic Plan describes the agency’s proposed strategic goals and objectives for 2022-26, summarizes an analysis of the internal and external environment impacting the NCUA, and evaluates the agency’s programs and risks.

It will be published in the Federal Register with a 60-day comment period.

The briefing on modernized examination tools highlighted the benefits intended for both NCUA and credit union stakeholders and provided an overview of the Admin Portal; Modern Examination and Risk Identification Tool (MERIT), and Data Exchange Application (DEXA).

The National Credit Union Share Insurance Fund reported a net income of $58.6 million and $20.9 billion in assets for the third quarter of 2021. The fund also reported $59.8 million in total income for the third quarter of 2021.

The equity ratio is projected at 1.28% for the end of the year.

The briefing on NCUA’s COVID-19 response included information on:

• Expanded Central Liquidity Facility (CLF) borrowing authority, scheduled to expire Dec. 31.
• Prompt Correction Action (PCA) relief interim final rule, scheduled to expire March 31, 2022.
• The raised maximum aggregate amount of loan participating federally credit unions may purchase form a single lender, which expires Dec. 31.
• Late call report filers, as NCUA staff plan to resume normal approach to adjudicating late filers starting with the Dec. 31, 2021, cycle, unless it sees “a significant negative change in the pandemic.”