As the insurer for the nearly the entire credit union system and the regulator for federally chartered credit unions, NCUA must smartly adapt by continuously improving our current processes to operate even more efficiently.
NCUA Board Chairman Rick Metsger established the Exam Flexibility Initiative on May 19, 2016, to evaluate the agency’s largest function—its examination and supervision program. Chairman Metsger tapped Region IV (Austin) Regional Director Keith Morton to lead the agency’s efforts to modernize the exam process. The internal working group included representatives of all five of NCUA’s regions and major offices, and solicited advice from a wide range of stakeholders across the country.
A report detailing the working group’s recommendations, along with frequently asked questions, a summary of stakeholder comments, and two flowcharts illustrating the eligibility of federal credit unions and federally insured, state-chartered credit unions for an extended examination cycle are available below.
Flexibility Initiative Report (opens new window)
Eligibility of Federal Credit Unions for Extended Exam Cycle (opens new window)
Eligibility of Federally Insured, State-chartered Credit Unions for Extended Exam Cycle (opens new window)