Upon successful completion of the NCUA’s onsite review and signing of the LUA, the agency will issue a Charter and Certificate of Insurance to establish the new federal credit union. The NCUA will forward these documents and informational pamphlets, forms, and instructional manuals to the credit union office.
The new federal credit union will be assigned to one of the NCUA’s regional offices. A Supervisory Examiner and District Examiner will be assigned by the regional office to supervise the new federal credit union. The District Examiner serves as the new federal credit union’s point of contact with the NCUA.
Note: According to Article X of the Federal Credit Union Bylaws, “the Agency may revoke the charter for failure to start operations within 60 days after receipt of the approved organization certificate unless the Agency approves an extension of time.” Any delays in the new federal credit union commencing operations should be communicated by the new federal credit union to its assigned NCUA regional office in writing, with an extension request.