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CUNA unveils extensive guidance on CU exam issues
WASHINGTON (1/18/11)--After an exhaustive look at credit unions’ increasing frustrations, the Credit Union National Association (CUNA) has developed a bill of “examination rights,” which is detailed and cross-referenced to the National Credit Union Administration’s (NCUA) own examiner guide. Within a 64-page guidance document titled “Supervisory Issues and Examinations: Guidance For Credit Unions During The Current Economic Times And Beyond,” CUNA lists 24 “examination rights,” which include such things as the right of credit unions to “manage risk without being directed by examiners to eliminate it,” and “appeal examiner findings, conclusions, or directives without retaliation from their regulator,” among others. (See related story: CUNA names 24 CU exam rights.) "A prime objective of this Guidance is to assure credit unions they have options in responding to most supervisory issues and when they feel an examiner has overstepped his or her authority,” said CUNA President/CEO Bill Cheney, in releasing the booklet to credit unions Friday. “Credit union officials are entitled to question an examiner’s findings and directives, suggest alternatives in most situations, and appeal decisions they feel are unwarranted, arbitrary, inconsistent with laws and regulations, or may jeopardize their ability to serve their members.” The publication also includes sections dealing with general duties of examiners, credit union examination concerns, which are based on survey responses directly from credit unions, handling disagreements with examiners and recommendations--for both credit unions and NCUA alike--for improving the examination process. “This Guidance is the culmination of many months of work by credit union and league leaders,” said Paul Mercer, president/CEO of the Ohio Credit Union League, and chairman of the CUNA Supervisory Issues Working Group, which led the work on the volume. Mercer added, “It is designed to be an accessible, easy-to-use reference concerning a number of supervisory issues that have surfaced recently among credit unions. Its aim is to provide resources about the supervisory process so that credit unions will have a better understanding of their responsibilities and rights as well as a greater awareness of the proper role of the examiner.” The free booklet is available to all CUNA-member credit unions. Use the resource link below.

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