HIGHTSTOWN, N.J. – The New Jersey Credit Union League is hosting the first of four 2012 regulatory examination issues and challenges roundtable meetings on Tuesday, January 24, 2012, from 10:00 a.m. to 2:00 p.m. at the League headquarters. This is the inaugural meeting of the New Jersey Credit Union League Regulatory Examination Assistance & Development (NJREAD) program group.
State and federal regulatory examinations have long been an area that has proven challenging for credit unions (no matter asset size), but in recent months it has come to the attention of the League that credit unions are experiencing an overabundance of inconsistencies and potential overzealousness in NCUA exams.
In response, the League is seeking participation of member credit union CEOs to address regulatory examination topics and challenges, and to also share their exam experiences and insights. The group will work together to identify examination issues/challenges and create process improvements, as well as contribute to communications to NCUA and key agencies that will allow the League to be the “voice” of credit union members when interacting with these agencies.
Note: We will not share any specific CU exam findings by name. The intent is to alert NCUA and other regulatory agencies to exam practice trends in our state. Your CU's confidentiality will not be breached.
To register to attend the January 24th NJREAD event, please email firstname.lastname@example.org or call 800-792-8861 ext. 100 by January 18, 2012.
For more information on NJREAD, including reports, meeting updates, and resources, visit www.njcul.org/njread.aspx. There you’ll also find a form you can use to share your examination stories, issues/challenges you faced, suggestions for improvement, etc. Visit www.njcul.org/tell-us-your-exam-story.aspx to access the “Tell Us Your Exam Story” form.