Removing Barriers Blog

NCUA Announces Initial Registration Period for CUSO Registry
Posted January 15, 2016 by Chandler Schuette

In a letter to credit unions, NCUA has announced the upcoming initial registration period for the CUSO Registry. The CUSO Registry is the online system through which credit union service organizations (CUSOs) will report information directly to NCUA.

The CUSO Registry will be available for CUSOs to begin registering on February 1, 2016. CUSOs will have 60 days between February 1 and March 31 to register. There is no fee to use the registry.

On November 21, 2013, the NCUA Board adopted changes to the regulations that address federally insured credit unions’ responsibilities when involved with a CUSO. The new requirements became effective June 30, 2014.

Beginning in mid-2016 upon completion of the initial registration period for CUSOs, as part of ongoing due diligence, credit unions will be able to confirm a CUSO’s registration using the registry. NCUA will notify credit unions when this feature is activated upon completion of the initial registration process for CUSOs.