ARLINGTON, Va.–NAFCU indicated it plans to continue to press its case for an 18-month exam cycle even after NCUA indicated it has no plans to change from its current annual schedule anytime soon.
In response to an earlier letter in which NAFCU called for such a change, NCUA’s Director of Examination and Insurance, Larry Fazio, said the move to the longer exam cycle would require the agency to address workforce management needs, enhance its data and modeling capabilities, establish new technologies and techniques to improve the AIRES examination platform, and design a framework for the examination program before any such move could be made.
In response, NAFCU President and CEO Dan Berger issued a statement saying, "We appreciate NCUA's thoughtful review of our request. NAFCU looks forward to continuing the dialogue with the agency as to what processes and procedures are needed in order for NCUA to implement an 18-month exam cycle. We look forward to discussing how to adopt an extended exam cycle for healthy credit unions that will efficiently provide relief and effectively maintain our industry's safety and soundness."