Learn more about Member Benefits
many of you are aware, in his initial Board meeting as chair, NCUA Chairman
Rick Metsger prioritized several projects that will have a large impact on
credit unions and how they interact with the NCUA. This includes the
Enterprise Solutions Modernization Program that will include
upgrades/enhancements to the Call Report System, ARIES System, CU Online, and
others. Further, Chairman Metsger has directed the agency to modernize its examination and supervision program having assigned Regional
Director Keith Morton to lead the Exam Flexibility Initiative. Yesterday,
during a meeting we had previously scheduled with Larry Fazio from the NCUA,
Fazio indicated this is likely a 2-4 year project with many moving parts.
** Let's stop right here for a moment and remember that nothing in the public policy arena happens in a vacuum. We find ourselves in this position because credit union leaders like you have been pushing in the same direction to get these issues addressed over the last 5+ years, raising awareness before Congress and the NCUA. The data that credit unions have contributed to our evergreen exam burden survey since 2012 has provided evidence of the challenges credit union face, and that has helped us make our case to policymakers in literally hundreds of meetings over the past several years.
Likewise, it is important to acknowledge the leadership that NCUA Chairman Metsger is demonstrating by recognizing these issues and leading the agency to address them. We are still closer to the beginning of this process than the end, but this is headed in the right direction. **
of the scope, complexity and potential impact of this massive modernization
project, it is obviously very important for all stakeholders to continue to work together to
achieve the best possible outcome for credit unions. This is an
enormous undertaking that, if done properly, could result in a number of
positive changes for credit unions. To that end, CUNA is developing an
advocacy strategy similar to the successful approach taken for Risk Based
Capital – the difference, of course, is that this time we’re trying to take
something that could be very positive and make it even better. We will be working closely with our Advocacy Committee, its Examination and Supervision Subcommittee, our League partners, Council members and member credit unions to develop a set of principles to guide us through the process, and we will be working to make sure that NCUA hears from staff and volunteers at credit unions that work most closely with examiners and call reports.
Throughout the process, we will be interested in working with and hearing from you because it is important that, at the end of what could be
a significantly comprehensive process, we end up with a system that reduces
the burden on credit unions, properly modernizes the overall supervisory
process, and results in an overall stronger credit union system. Please be on the lookout for more information regarding this initiative in the days, weeks and months to come.
Champion for the Credit Union Movement
Credit Union National Association is the most influential financial services trade association and the only national association that advocates on behalf of all of America's credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.
© 2017 Credit Union National Association
ADA Compliance Notice & Legal
© 2017 Credit Union National Association |
ADA Compliance Notice & Legal