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A special message from Mary Martha Fortney, President and CEO,
February 14, 2008
 NASCUS state regulators and the National Credit Union Administration (NCUA) have maintained a cooperative working relationship for many years in an effort to enhance the safety and soundness of the credit union system. This year, our working relationship continues to be active, and more work lies ahead.
Credit unions continue to develop new products and services while managing a marketplace beset by economic and philosophical challenges. Against that backdrop, regulators have enhanced regulatory oversight to ensure credit unions operate in a safe and sound manner. The partnership between state and federal regulators is essential to make sure credit unions receive the best in public policy and regulation, whether they are federal or state-regulated.
NASCUS state regulators and examiners are actively involved in working groups and committees with the NCUA. For years, state examiners have served on National Examination Committee, the Surveillance Systems Working Group and the Technology Development Team.
In addition, as emerging credit union issues arise, NCUA and NASCUS have developed topic-specific working groups to address new and pressing issues. Recently, NASCUS has placed state examiners on three NCUA task forces developing regulatory responses to emerging issues. State examiners also work closely with NCUA on training; currently the states are participating in a long-term examiner training project to enhance the training examiners receive throughout their careers.
Concerning technology, state examiners are participating in the WISe SPASC project (Web-based, Integrated, Secure, Single Point Access, Streamlined Communication), a system that will bring the call report process online by 2009.
State and federal regulators also value the in-person dialogue on national policy issues that occurs throughout the year. We meet one-on-one with the NCUA Chairman, Board members and senior staff and on the national level at the annual NASCUS/NCUA National Regulators Meeting. This interaction is critical to maintaining an open dialogue and ensuring regulators can address topics of concern both in a timely and appropriate manner. NASCUS looks forward to seeing state and federal regulators at the 2008 National Regulators Meeting, April 13-15 in Tampa, Florida.
NASCUS will continue to seek ways for state and federal regulators to partner and advance the viability and efficiency of the credit union system. We are dedicated to advancing the cooperative relationship between state and federal regulators this year and in the future.
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