NCUA Actions Related to COVID-19

To: Federally Insured Credit Unions Subject: Operations Dear Board of Directors and Chief Executive Officer: The NCUA recognizes COVID-19 will impact credit unions and their members to varying degrees. I want to assure you that the NCUA is doing all we can to address the situation. The health and safety of all NCUA staff, credit [...]

NCUA Actions Related to COVID-192020-03-17T12:25:07+00:00

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

Voluntary Credit Union Diversity Self-Assessment

Letter to Credit Unions 18-CU-05, NCUA DATE: November 2018 TO: Federally Insured Credit Unions SUBJ: Voluntary Credit Union Diversity Self-Assessment   Dear Board of Directors and Chief Executive Officer: Federally insured credit unions, especially those with 100 or more employees, are encouraged to conduct and submit the annual Voluntary Credit Union Diversity Self-Assessment to the [...]

Voluntary Credit Union Diversity Self-Assessment2018-12-03T18:43:46+00:00

Sharing Bank Secrecy Act Resources

Letter to Credit Unions 18-CU-04, NCUA DATE: October 2018 TO: Federally Insured Credit Unions SUBJ: Sharing Bank Secrecy Act Resources ENCL: Interagency Statement on Sharing Bank Secrecy Act Resources   Dear Board of Directors and Chief Executive Officer: To assist credit unions and banks, a joint statement was developed that addresses instances in which they may [...]

Sharing Bank Secrecy Act Resources2018-11-09T12:19:42+00:00

Examination Modernization Initiatives

Letter to Credit Unions 18-CU-01, NCUA DATE: August 2018 TO: Federally Insured Credit Unions SUBJ: Examination Modernization Initiatives   Dear Board of Directors and Chief Executive Officer: The NCUA has several initiatives in process to improve and modernize how the agency conducts examinations and supervision.1 The goals of these initiatives are to replace outdated, end-of-life examination [...]

Examination Modernization Initiatives2018-09-04T22:46:19+00:00