NCUA provides 2020 update on modernization efforts
NCUA provided an update on its modernization efforts in a letter to credit unions (20-CU-01) that also includes information on NCUA’s supervisory priorities for 2020. This includes making NCUA Connect, a secure, common entry point for authorized users to access NCUA applications, available to all credit unions and state regulators this year after a pilot program in 2019.
NCUA also conducted a limited launch of its new examination platform, the Modern Examination and Risk Identification Tool (MERIT), with the goal that it be released to all examination staff in the second half of 2020.
Unlike the current platform, AIRES, credit unions will also be users of MERIT, and will have the ability to perform certain activities within it, including:
- Transferring documents and files needed for the examination securely;
- Providing status updates and requesting due date changes on corrective actions; and
- Accessing completed examination reports securely.