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News Now

Washington
Exam survey sparks big response of CUs' stories
WASHINGTON (1/8/13)--More than 1,100 credit union representatives have responded to the Credit Union National Association's (CUNA) examination survey, illustrating the importance of the issues being addressed. However, there is still time for more voices to be heard as the Jan. 15 deadline approaches.

The survey gives credit unions a chance to detail their experiences with on-site regulatory examinations and discuss how satisfied they are with National Credit Union Administration (NCUA) and state examiner performance, and the results of those exams. Credit unions can also describe the strengths and weaknesses of their state and federal regulatory examination experiences.

"The strong response is no surprise," CUNA Senior Economist Mike Schenk said Monday. "We know there are issues out there. We are confident that the survey results will assist us in working with NCUA and state regulators to improve the exam process for credit unions."

Schenk said CUNA is eager to start working through the responses and "doing what it can to support credit unions from a regulatory advocacy standpoint." Advocating on behalf of credit unions to improve the examination process is one of the highest priorities of both CUNA and credit union leagues. (See related story: A closer look: CUNA 2013 goal is a better regulatory environment)

Survey replies are confidential, and identifying information from individual credit union respondents will not be seen by individuals outside of CUNA's Market Research Department. Only summary results will be reported.

The exam survey has been sent to all CUNA-affiliated credit unions except those in NCUA Region II, whose league already executed a similar poll.

CUNA members may use the resource link below to access the exam survey.
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