Oct. 17, 2012 – NCUA Chairman Debbie Matz told representatives of individual credit unions, NAFCU and others in a meeting Monday that the agency expects to complete and release its revised examination manual within the next month.
Matz, speaking before the Metropolitan Area Credit Union Management Association in Arlington, Va., told an audience member that it has taken longer than expected to complete the manual.
NAFCU has been in ongoing contact with the agency on its exam processes, noting some member credit unions’ concerns that exam procedures have not been consistent and that examiners were using documents of resolution with more frequency than seemed necessary. It has urged that the exam manual be completed in an expeditious manner so credit unions know what to expect during their own exams.
In Monday’s MACUMA meeting, Matz said NCUA’s examiners have been told to stop issuing DORs for repetitive issues. She said they are listening, but she also encouraged credit unions to tell examiners about issues coming up before their exams are underway. She also said credit unions should make sure they know who their supervisory examiners are.
In other comments, Matz reminded of the availability of a waiver from the agency’s fixed-asset limits for federal credit unions. A credit union representative prompted the comment, asking whether there is an option allowing a credit union to purchase items due to unforeseen circumstances – for example, when an ATM breaks – without seeking NCUA approval.