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NCUA Reveals Enhanced Exam Procedures and Scheduling Changes for 2017
Wednesday, January 11, 2017 6:40 AM

The NCUA promised enhanced examination planning procedures and scheduling changes for 2017, and outlined those changes in a letter to credit unions (16-CU-12) sent in the final days of 2016. The extended examination cycle applies to federal credit unions and federally insured state-chartered credit unions that meet certain eligibility requirements.

For federal credit unions, an extended examination cycle will begin between 14 and 20 months from the prior examination completion date, as long as the credit union meets all five eligibility requirements. See requirements at CUNA

Examinations will occur between eight and 12 months from the prior examination completion date for federal credit unions that do not meet all of the requirements.

Federally insured state-chartered credit unions meeting any one of the following criteria will receive NCUA exams that will begin between eight and 12 months from the prior examination completion date:

  • Assets greater than $1 billion;
  • Composite NCUA CAMEL code 4 or 5 with assets greater than $50 million; or
  • Composite NCUA CAMEL code 3 with assets greater than $250 million.

All other federally insured state-chartered credit unions will receive an NCUA examination based on risk, but no less frequently than once every five years.