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Credit unions still have time – until Monday – to weigh in with NCUA on the agency's efforts to update supervision and exam procedures.

NCUA Chairman Rick Metsger says the agency is "on a fast track to update its examination and supervision procedures" and wants "input from as many people as possible."

Last month, the agency invited credit unions to weigh in on the following questions:

• How can NCUA conduct future examinations in ways that minimize their impact on credit unions' operations?
• What concerns do credit unions have about the current examination and supervision program?
• What steps should NCUA take to improve the efficiency of its examination program while ensuring it remains effective?
• How can NCUA better use technology in examinations?
• What metrics should NCUA consider to determine a credit union's eligibility for an extended examination cycle?

Credit unions can send input to ExamFlexibility@ncua.gov.

Last week, the NCUA Board announced the elimination of a calendar-year exam cycle for every federal credit union and for all federally insured state-chartered credit unions with more than $250 million in assets, as part of its 2016-2017 strategic plan.

NAFCU applauded the move, and it continues to ask NCUA to return healthy credit unions to a longer exam cycle to relieve credit unions of the burden of more frequent exams. Credit unions are the only federally regulated depository institutions held strictly to a calendar-year cycle for examinations.

NAFCU has also urged credit unions to participate in the agency's working group, the Exam Flexibility Initiative, which is holding meetings and teleconferences with agency staff and credit union stakeholders in coming months.