Compliance

Exam Problems? Know Your Rights

CU Bill of Rights is based on the NCUA Examiner’s Guide.

January 19, 2011
KEYWORDS credit , examiner , unions
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Credit unions have the right to manage risk without being directed by examiners to eliminate it, appeal examiner findings and directives without retaliation from their regulator, and receive respectful conduct from examiners.

These are three credit union “examination rights” the Credit Union National Association (CUNA) outlines in its first edition of “Supervisory Issues and Examinations: Guidance for Credit Unions During the Current Economic Times and Beyond.”

CUNA produced the 64-page booklet in conjunction with state leagues and with direct input from credit unions.

The publication lists 24 credit union “examination rights,” each of which is cross-referenced to sections of the National Credit Union Administration’s (NCUA) Examiner’s Guide—showing specific correlations to written guidance the agency gives examiners for performing examinations.

“A prime objective of this ‘Guidance’ is to assure credit unions they have options in responding to most supervisory issues and when they feel an examiner has overstepped his or her authority,” says CUNA President/CEO Bill Cheney. “Credit union officials are entitled to question an examiner’s findings and directives, suggest alternatives in most situations, and appeal decisions they feel are unwarranted, arbitrary, inconsistent with laws and regulations, or may jeopardize their ability to serve their members.”

The guide also includes sections dealing with general duties of examiners, credit union examination concerns (based on credit union survey results), handling disagreements with examiners, and recommendations—for credit unions and NCUA—for improving the examination process.

“This is the culmination of many months of work by credit union and league leaders,” says Paul Mercer, president/CEO of the Ohio Credit Union League and chairman of the CUNA Supervisory Issues Working Group, which led the work on the volume.

“It’s designed to be an accessible, easy-to-use reference concerning a number of supervisory issues that have surfaced recently among credit unions,” he adds. “Its aim is to provide resources about the supervisory process so credit unions will have a better understanding of their responsibilities and rights, as well as a greater awareness of the proper role of the examiner.”

The booklet is available to all CUNA-member credit unions at no charge on the CUNA website.

Next: 24 examination rights

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