NCUA’s 2021 supervisory priorities reflect COVID effects
NCUA issued a letter to credit unions (21-CU-02) Friday detailing the agency’s supervisory priorities for 2021. The letter itself contains a details breakdown of each area.
“The NCUA remains committed to incorporating efficiencies into its examination and supervision program to address the effects of the COVID-19 pandemic on credit unions and their members,” wrote NCUA Chairman Rodney Hood. “As the economic impact of the COVID-19 pandemic evolves, the NCUA will continue to provide the necessary guidance.”
According to NCUA, it will maintain its commitment to the extended examination cycle, and qualifying credit unions will be scheduled accordingly in 2021.
The targeted Small Credit Union Exam Program exam procedures remain in place for most federal credit unions with assets under $50 million.
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