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NCUA has been working with 25 credit union service organizations to test a web-based registry where the CUSOs can submit their information directly to the agency, according to the October issue of the agency's newsletter.

The agency board issued a final rule on CUSOs – entities that credit unions lend to or invest in to facilitate certain services for members – in 2013. The rule requires CUSOs to report certain financial and operational information and applicable state authorities on a yearly basis. It also calls for creation of the CUSO Registry.

NCUA says data provided to the registry will be protected under the Freedom of Information Act and related exemptions. Some data will be publicly available via search – CUSO name, mailing address, services provided, registry number, contact information, public phone number and website.

The October newsletter (The NCUA Report) also includes columns from NCUA Chairman Debbie Matz and Board Member J. Mark McWatters. Matz discusses the recent return of control over Keys Federal Credit Union, which had been in conservatorship for six years, to its members; and McWatters discusses issues related to expansion of field-of-membership rules, including current statutory limits.