Removing Barriers Blog

NCUA Appears to be Moving Toward Extended Exam Cycle
Posted February 01, 2016 by CUNA Advocacy

CUNA representatives Elizabeth Eurgubian, Andy Price, and Lance Noggle, along with CUNA’s Examination and Supervision Subcommittee chairman Paul Gentile had a very engaging meeting with NCUA today on the topic of moving towards an extended examination cycle. Credit unions are currently examined on an annual basis, though NCUA Chair Debbie Matz said during the board’s January meeting that the agency would look at an extended exam cycle under certain circumstances.

We are now hearing the agency does indeed want to make this move, and is committed to working with us on how to develop, implement, and monitor this change. At the upcoming GAC, the CUNA Examination and Supervision Committee will meet with NCUA’s Larry Fazio to lay out ideas for "well-run" credit unions that could qualify for an "extended" exam.

Thankfully, it seems that we are on a good path to the extended exam cycle becoming a reality, so we urge all credit union representatives meeting with NCUA to mention this issue.