The National Credit Union Administration will test a post-exam survey to allow financial institutions to provide timely feedback to the agency, board Chairman Todd Harper said in a letter sent to credit unions last week.
“Credit union feedback helps the NCUA evaluate the effectiveness of our examination processes, and also improves communication with credit unions,” Harper wrote.
NCUA Board members have expressed interest in getting feedback from credit union officials following examinations. Board member Kyle Hauptman has gone as far as suggesting that credit unions videotape the exams.
Harper said that between Sept. 20, 2021 and March 31, 2022, federal credit union CEOs or managers will receive a link to the post-examination survey from the NCUA’s ombudsman at the conclusion of a regularly scheduled exam. Credit unions will have 15 days to submit responses.
The ombudsman will be responsible for reviewing the survey responses, consolidating data, and reporting the results to agency leadership.
“The survey will include five questions focused on pre-examination, reporting, and post-examination requirements,” Harper wrote. “The survey will also include an open-ended question that will ask for credit union feedback on the types of questions the agency should consider in a future permanent survey.”