NCUA issued a letter to credit unions (23-CU-01) Wednesday outlining the agency's supervisory priorities and other updates to its examination program for 2023.
"Our focus will be on the areas posing the highest risk to credit union members, the credit union industry, and the National Credit Union Share Insurance Fund," the letter reads, adding that NCUA will conduct examination and supervision activities "both onsite and offsite, as appropriate."
The letter also notes NCUA's exam flexibility initiative will continue in 2023, which establishes an extended exam cycle for certain credit unions. The agency will also continue its Small Credit Union Exam Program in most federal credit unions with assets under $50 million. For all other credit unions, NCUA examiners will use the agency’s risk-focused examination procedures.