News
NCUA Will Begin Easing into On-site Exams Beginning July 6 — 6/19/20
After three and half months of working remotely due to the COVID-19 pandemic, National Credit Union Administration (NCUA) examiners will be easing back into on-site credit union examinations beginning July 6. This, according to a letter (20-CU-20) issued to federally insured credit unions on June 20 by NCUA Chairman Rodney Hood.
“After conducting a workforce readiness survey, obtaining guidance from appropriate federal agencies, and partnering with a public health firm retained to advise the agency on COVID-19-related matters, the NCUA developed a multi-phase transition plan for the resumption of its on-site operations and is now preparing to implement that plan,” stated Hood.
The phased transition plan provides a framework for how and when NCUA staff resumes an on-site presence at both NCUA offices and credit unions. Hood said the NCUA’s top priority is that of ensuring “the health, safety, and well-being of its staff while executing the agency’s mission.” The transition plan may begin as early as Monday, July 6, 2020, and has built-in flexibility if a later implementation date is necessary.
In the transition plan’s first phase, NCUA may begin conducting voluntary on-site examinations. “We will communicate specific implementation details before we begin the first phase,” Hood explained. During the first phase, the NCUA will continue to encourage both field and office staff to work remotely when possible. The NCUA will also implement social distancing and other precautionary measures in its offices to ensure the health and safety of its staff. Additional precautionary measures will include the distribution of appropriate protective supplies to both field and office staff.
Looking ahead, the agency will continue to monitor the impact of the COVID-19 pandemic as they transition to normal on-site operations and will continue to notify credit unions of changes to procedures and examination protocols.
Hood advised credit unions to contact their regional office with any questions.
The NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of account holders in all federal credit unions and all state-chartered credit unions in West Virginia.
# # #