Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
NEW: NCUA To Re-align Regional Supervisory Authority In 2014
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:
  • Federally insured credit unions in Colorado, Montana, New Mexico and Wyoming will be moved to Region IV from Region V;
  • Louisiana and Arkansas supervisory responsibilities will move to Region III from Region IV;
  • Wisconsin will be covered by Region I, no longer Region IV;
  • Ohio will come under Region II, moving from Region III; and
  • California will return to the supervision of Region V, not Region II.
"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.


RSS





print
News Now LiveWire
Which Children's Miracle Network Hospital is the winner of @CUDirect's 20 for 20 grand prize? Find out Tuesday.
40 minutes ago
Gas prices have fallen for a record 88 days in a row says @AAAnews via @washingtonpost http://t.co/c52VTdqHEB
3 hours ago
.@TheNCUA releases regulatory modernization initiative results (PDF link) http://t.co/pgLZe4aget
3 hours ago
#FinCEN seeks nominations of FIs, trade groups for membership on Bank Secrecy Act advisory group http://t.co/l5w58c277W
4 hours ago
MI pediatric dentist pledges $20K match to Hurley Children's Hospital if it wins @CUDirect's 20 for 20 http://t.co/Eq2nIPm6jo
4 hours ago