NASCUS Members Discuss Improving Examination Efficiencies
April 29 Several NASCUS Advisory Council members joined NASCUS for a teleconference devoted to improving examination efficiencies across the country last week.
As you may know, NASCUS and our regulator members are taking a comprehensive look at the examination process to identify efficiencies and changes that could improve the process make better use of agency, and credit union, time and resources. State Regulator Linda Jekel (WA) is leading this initiative and looks forward to continued dialogue with NASCUS' credit union members.
NASCUS was pleased to hear from the NASCUS Advisory Council members who participated in the call that, for the most part, examinations are positive experiences and that credit unions welcome examiners and the regulatory process. The group did share some ideas for improvements such as that examiners provide more clarity around what is truly required versus what is guidance or simply "best practice" when suggesting improvements to credit union operations. Some members also suggested that there is some redundancy in joint state/ NCUA examinations. As the joint examination was listed as last in the order of examination satisfaction between state, federal and joint examinations in CUNA's recent examination survey, NASCUS will look at the joint examination process in this initiative.
Linda Jekel, along with NASCUS management, thanks those credit union members who were able to participate in the call. NASCUS looks forward to incorporating credit union suggestions into our report. To share your thoughts and ideas, email Brian Knight at email@example.com or call him at 703-528-8689.
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