NCUA to begin Phase 3 of resuming onsite operations

The National Credit Union Administration has announced it will enter Phase 3 of a resumption of onsite operations, effective Oct. 17, 2022. Under Phase 3, onsite examination and supervision activity will resume in all locations for federal credit unions.

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. 

In its Letter to Credit Unions, 22-CU-11, NCUA said that 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.

When scheduling examinations, the NCUA will continue to take into account any challenges a credit union is facing, such as the availability of key staff. Examiners will coordinate with credit union management in scheduling the examination and with respect to aspects of the examination that will be conducted onsite and offsite.

The well-being of agency staff and credit union employees remains a top priority of the NCUA. NCUA staff working onsite in credit unions will generally be expected to follow credit union policies related to health and safety, to the extent they exceed the NCUA’s safety protocols for Phase 3.