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News Now

Washington
Commodore Perry FCU gets 60-day extension for exam appeal
ALEXANDRIA, Va. (1/23/13)--The National Credit Union Administration has granted Commodore Perry FCU a 60-day extension of a supervisory exam appeal filed by the credit union.

The Port Clinton, Ohio, credit union, last year challenged an NCUA exam that resulted in the lowest CAMEL rating that the credit union has ever received.

Commodore Perry FCU President Thomas Renz, speaking to News Now, charged that the low CAMEL rating was retribution for his credit union's reporting of an NCUA examiner's "extremely unprofessional" conduct. The credit union had asked for a new examiner, but the examiner that was the subject of the credit union complaint was allowed to complete his examination. According to Renz, the final NCUA examination contained a number of factually incorrect findings.

NCUA Region III Director Herb Yolles at first rebuffed Commodore Perry's attempt to appeal, but the agency has now granted more time for the appeal to be considered. The appeal process must now be completed by March 18.

Renz said he appreciates NCUA Chairman Debbie Matz's willingness to work to resolve differences, and Yolles's willingness to maintain an open line of communications with the credit union, and his earnest desire to see this process resolved amicably.

"It is our sincere hope that this issue be resolved and that part of that resolution includes an open dialogue about what we have learned from this process," Renz added.


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