NCUA to begin Phase 3 of resuming onsite operations

In July 2021, the NCUA announced the implementation of Phase 1 of its phased approach to returning to onsite operations in  Letter to Credit Unions, 21-CU-06. In April 2022, the NCUA entered Phase 2 as outlined in Letter to Credit Unions, 22-CU-06. The agency will enter the third phase (Phase 3) of resuming its onsite operations on Oct. 17, 2022.

Under Phase 3, onsite examination and supervision activity will resume in all locations. Given the lessons learned from offsite examinations conducted during the pandemic, examiners will seek to strike the right balance between onsite and offsite examination and supervision work. Examiners will continue to conduct some examination steps offsite when they can be completed efficiently and effectively in credit unions that can accommodate the offsite work.

Read the entire letter to credit unions.