NCUA Issues Supervisory Committee Audit Guide

ALEXANDRIA, Va. (Jan. 8, 2020) – The National Credit Union Administration has issued a new guide to minimum procedures for other supervisory committee audits. The new guide can be found on the agency’s website. The NCUA Board in September 2019 unanimously approved a rule amending Part 715 of agency regulations governing federally insured credit unions’ [...]

NCUA Issues Supervisory Committee Audit Guide2020-01-17T19:45:52+00:00

NCUA’s 2020 Supervisory Priorities

Subject: Examination Program To: Federally Insured Credit Unions   Dear Board of Directors and Chief Executive Officer: This letter describes the NCUA’s supervisory priorities for 2020, and will help you prepare for your next NCUA examination. It also addresses the NCUA’s efforts to continue to modernize the examination program. All qualifying credit unions will continue [...]

NCUA’s 2020 Supervisory Priorities2020-01-20T16:51:48+00:00

Currency Transaction Reports (CTRs) – New Filing Instructions

We all know that we are required to file a CTR with FinCEN for each deposit, withdrawal, exchange of currency, or other payment or transfer, by, through, or to our financial institution which involves a transaction in currency of more than $10,000 (Wow! That’s a mouthful). This shouldn’t be too difficult to do, right? But [...]

Currency Transaction Reports (CTRs) – New Filing Instructions2019-11-14T13:43:36+00:00

Guidance to NCUA Staff on Evaluating Secondary Capital Plans

Letter to Credit Unions 19-CU-02, NCUA Subject: NCUA Operations/Activities Status: Active To: Federally Insured Credit Unions   Dear Board of Directors and Chief Executive Officer: The NCUA issued to field staff the attached supervisory letter regarding the authority of low-income-designated credit unions (LICUs) to offer secondary capital accounts. The supervisory letter updates the framework the [...]

Guidance to NCUA Staff on Evaluating Secondary Capital Plans2019-11-12T18:25:31+00:00

2018 NCUA Equity Distribution

NCUA Equity Distribution Rule (12 CFR 741) On March 7, 2019, the NCUA Board announced a 2018 $160.1 million Share Insurance Fund equity distribution to all eligible financial institutions. Under final rule Part 741, which created a temporary provision governing Share Insurance Fund equity distributions related to the Corporate System Resolution Program, the NCUA Board [...]

2018 NCUA Equity Distribution2019-04-15T14:46:35+00:00

Supervisory Priorities for 2019

Letter to Credit Unions 19-CU-01, NCUA Subject: Examination Program Status: Active To: Federally Insured Credit Unions   Dear Board of Directors and Chief Executive Officer: This letter outlines the NCUA’s primary areas of supervisory focus for 2019, and is intended to assist you in preparing for your next NCUA examination. Regarding the examination cycle and [...]

Supervisory Priorities for 20192019-01-18T19:08:51+00:00

NCUA Final Rule Approval- Field of Membership and Mergers

At the sixth open meeting of 2018, the NCUA approved two final rules of particular and relevant interest to the Credit Union industry: 1) field-of-membership chartering, expansion, or conversion, and 2) greater transparency for members when credit unions who are federally insured seek voluntary mergers.   Consistent with a U.S. District Court decision earlier this [...]

NCUA Final Rule Approval- Field of Membership and Mergers2018-07-06T14:41:25+00:00