Today, CUNA filed a letter with NCUA in support of the agency’s efforts to modernize the examination process. The NCUA issued the RFI as part of a comprehensive study of alternative procedures to modernize the agency’s examination program. The agency seeks to support a predominately offsite examination and supervision model by taking advantage of new and emerging approaches and techniques to utilizing data and technology.

We appreciate the agency’s efforts over the past few years to shift certain examinations from fully in-person and onsite to a mix or predominantly offsite. We have encouraged such a shift on numerous occasions. Given the current disruption caused by the ongoing pandemic, it is critical now more than ever that the agency explore any and all appropriate options to ensure credit unions are able to continue to operate without undue risk to agency or credit union staff.

In our letter, we offer numerous suggestions on how the agency can effectively and efficiently shift to a more offsite approach, while ensuring important aspects of the exam are not compromised, including in the area of data security.