Thursday, October 24, 2013 10:39:00 AM
ALEXANDRIA, Va. – As reported in the September 16th edition of CUNA’s Regulatory Advocacy Report, NCUA this fall approved using the CAMEL rating system to judge the safety and soundness of corporate credit unions starting in January.
The CAMEL system will replace the Corporate Risk Information System, which the agency has used since 1999. The NCUA said the change will have no impact on the corporate exam process.
"With the addition of a risk-evaluation component to the CAMEL system, there is no substantive difference between the two ratings systems, so it made sense to return to one system for all credit unions. Corporate board members, CEOs of member credit unions, are already familiar with the CAMEL system. This change makes things simpler and more efficient, because it's the same scorecard," an NCUA official said.