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Compliance Update

ICYMI: NCUA Preparing for Resumption of Onsite Operations

Posted: Jul 21, 2021 | Author: Cornerstone League
compliance  NCUA 

National Credit Union Administration announced in a Letter to Credit Unions (21-CU-06) that the agency is “prepared to move into its first phase of resuming onsite operations (Phase 1) in some areas of the country.”

As part of Phase 1, NCUA staff and contractors will be permitted to volunteer to work onsite at credit unions beginning July 19, 2021. During Phase 1, staff may only volunteer to work onsite in locations where public health data indicates pandemic conditions have sufficiently moderated.

To the extent they exceed NCUA’s safety protocols for Phase 1, NCUA staff working onsite in credit unions will generally be expected to follow credit union policies related to safety and security. To the extent possible, NCUA will respect a credit union’s preference to not have examination staff onsite during this phase. However, NCUA reserves the right to conduct onsite work at a credit union if necessary to address a serious and time-sensitive matter.

NCUA said it will also continue to maintain heightened safeguards in the agency’s facilities to ensure the health and safety of staff and any visitors. The health, safety, and well-being of its staff and credit union employees remains a top priority. The agency will continue to monitor the course of the pandemic and adjust its plans as necessary to ensure staff safety, while continuing to ensure the safety and soundness of the credit union system and protect credit union members.

The letter notes NCUA will continue to notify credit unions of any changes to the agency’s operating posture, including examination procedures and protocols affected by the pandemic.

Read the full statement.

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