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Deadline Thursday: CUSOs Must Register with NCUA
Monday, March 28, 2016 6:40 AM

Credit union service organizations (CUSOs) have until Thursday to register with the National Credit Union Administration’s online registry. Free registration is available here.

The NCUA approved an enhanced CUSO rule in November 2013 requiring federal credit unions to ensure the CUSOs they make loans to or invest in agree to provide certain information directly to the NCUA.

The NCUA has a 10-part video series on how to complete the registration process, and hosted a webinar on how to register and use the system. The agency has also posted a user manual, instruction, guides, frequently asked questions and other resources on the CUSO Registry page.

According to the NCUA, the Freedom of Information Act (FOIA) regulations will apply to the information CUSOs submit to the NCUA.

The following information will be publicly available and searchable starting mid-2016:

  • Legal name and any trade names;
  • CUSO Registry number assigned by NCUA;
  • Services offered;
  • Address (physical, if different from mailing address);
  • Public website address, if provided by the CUSO; and
  • Public phone number, if provided by the CUSO.

The NCUA also plans to share CUSO-related information with state supervisory authorities that have signed written information-sharing agreements with the agency.

Sensitive information, such as confidential commercial or financial information and trade secrets, will be protected. Such information will be withheld under the applicable exemptions in FOIA and the agency’s own FOIA regulations.