NJ READ Week Kicks Off Monday!

Posted by Marissa Anema Friday, March 23, 2012 11:59:00 AM


HIGHTSTOWN, N.J. – With the clock ticking to meet the March 30 completion deadline for the 1st Quarter NJ READ Survey, NJCUL is gearing up for NJ READ Week starting Monday, March 26. 

NJCUL staff encourages you to take the week to learn more about NJ READ and also complete the 1st quarter survey (www.surveymonkey.com/s/NJREADQ1). Although you will see an updated survey each quarter in an effort to capture examination experiences, challenges and recommendations for process improvements, the surveys will also contain updated “hot” compliance topics as well as questions on important proposed or troublesome regulations.

Responding to the survey is easy and only takes 15-30 minutes of your time. You don’t have to wait until your next exam to participate. You can provide feedback on all of the survey or just portions. The survey is broken up into sections that cover a credit union’s past examination and/or follow-up visitation by NCUA examiner(s), as well as current regulatory matters that are important to industry and finally, a chance to comment on key agency proposals. YOU can make a difference in having credit unions’ collective ‘voice’ heard through the regulatory quagmire credit unions are currently stuck in, but only IF you take the time to complete the NJ READ Survey.

The NJ READ Survey is intended to capture primarily ‘non-anecdotal’ and some ‘anecdotal’ data that the League will compile in a report to share with and educate regulators designed to provide credit unions their ‘voice’ to express concerns and share exam experiences with the goal to drive the process toward an improved regulatory environment and identify best practices that would benefit some credit unions.

The deadline for completion of the survey is March 30, 2012.

Please 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 individual responses will not be identified. All information will be aggregated. We have alerted NCUA that we are engaging in this survey, and they have committed to evaluating the results and working with us.

Throughout the week, we will provide information on other aspects of NJ READ, but if you are eager to learn more, visit www.njcul.org/njread.aspx.


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