NEWPORT BEACH, Calif.—The National Association of CUSOs (NACUSO) said it has been informed by NCUA that by the end of the week of Dec. 14 the agency will have sent a hard copy letter to all CUSOs regarding the CUSO Registry it is creating.
NACUSO said the NCUA indicated the purpose of its initial letter is to verify existing CUSO EIN numbers in advance of the enrollment period, since the EIN will become an identifier as a part of the enrollment process. The actual registration will go live on Feb. 1, 2016, with enrollment open for 60 days.
NCUA will also send an NCUA Express update to all credit unions regarding the CUSO letter when it is distributed, in order that the CUSO Registry can be on their radar and they can advise their CUSO partners, according to NACUSO. A formal Letter to Credit Unions related to the Registry will be mailed in January, and a live webinar will be held in February to provide additional information, NACUSO said.
By mid-year 2016 the CUSO Registry's basic information should be accessible to the public through NCUA's website, although proprietary information, such as client lists, etc. will not be available, NACUSO reported.
NCUA told NACUSO that beta tests with the 25 CUSO participants have gone well, and they have indicated their belief that the system will be easy to use.