Archive

Go to:

October 2017
SMTWTFS
1234567
891011121314
15161718192021
22232425262728
293031
< Sep Nov >
Leaguer Email Subscription

You are not currently subscribed. Click Subscribe below to receive the Leaguer email.

Have You Qualified for the NCUA Extended Examination Cycle?
Wednesday, April 26, 2017 6:15 AM

Pamela Blevins, Remote Financial Services Manager, Credit Union Resources

Starting January 2017, extended exam cycles were offered to well-managed, lower-risk federal credit unions. The following items were cited by NCUA as the qualifications:

  • Assets less than $1 billion
  • CAMEL code 1 or 2, in both composite rating and management component rating
  • “Well capitalized” under PCA
  • No outstanding DORs related to record keeping
  • No Cease and Desist Orders, LUAs, PWLs, or PCA directives

This means that your credit union needs to make sure they are staying on top of the record keeping in your credit union. It's very easy for your accounting department to get behind the ball, and the idea of playing catchup can seem like an impossible task. It is all about taking one step at a time and knowing what your options are. 

Credit Union Resources offers services to help you with this process. Maybe you have identified that there is an issue, and your accounting department has fallen behind. Or maybe you have a new accounting employee that needs to be brought up to speed. Or maybe you received a DOR and need immediate assistance in clearing those items to get back on the good list. 

Financial and Technology Resources offers assistance for these types of issues through our Remote Financial Services. This could include bringing you up to date on reconciliations, clearing those pesky DORs, or providing training to accounting staff to make sure your credit union stays on the straight and narrow. 

Need financial consulting or auditing services? Credit Union Resources may be just the help you you're looking for. Credit Union Resources offers a variety of audit and compliance review services. Visit our site here to view the many ways our professional staff can help you. For more information, please contact Deana Brown at 800-442-5762, ext. 6464, or 469-385-6464, or via email at dbrown@curesources.coop.

About Credit Union Resources
Credit Union Resources is a service corporation that provides industry-leading solutions and expertise to credit unions across the country. Credit Union Resources is a part of the Cornerstone Credit Union League, a regional trade association representing the interests of credit unions in Arkansas, Oklahoma, and Texas.