ARLINGTON, Va.–Although it’s not on the agenda of this week’s NCUA board meeting, the agency’s recent decision to return to in-person exams is likely not going to be embraced by many credit unions. But some will prefer it, observed one person.
“I think our feedback from members has been the switch to fully remote exams since COVID has gone fairly well,” said Curt Long, NAFCU’s chief economist. “And I think that is something we have pushed for for quite a while.”
Long said the efficiency gains seen have benefitted all credit unions, but some CU leaders are interested in issues beyond the bottom-line issues.
“It’s always hard to get a consistent answer across everyone,” observed Long. “Some prefer having the face-to-face contact, of course. But in general, we support NCUA using all the means at their disposal to achieve cost savings.”
On the Agenda
On the actual agenda of the NCUA board meeting this week is a vote on a proposal for the complex credit union leverage ratio.
It’s an issue Long said NAFCU has watched “closely.”
“We would like to see at a minimum parity between community banks and credit unions,” he said. “There is good reason why credit unions deserve even greater regulatory relief than community banks. We’re looking forward to seeing what the agency does.”