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Preparing Your CUSO for an NCUA Review

Many have heard the NCUA is going to focus on CUSOs. Here's some advice on how to prepare for such an examination

By Brian Lauer | Updated on April 13, 2011

Many have heard that the NCUA is setting its sights on CUSOs. You may have read the transcript of Chairman Debbie Matz’s testimony before the Senate. Or you are experiencing it firsthand with a zealous examiner shining his or her magnifying glass on your CUSO. Either way, are you prepared for the potential extra focus on your CUSO? Will you be able to quickly answer all questions with the necessary and relevant information, or will you look like a deer in headlights?

For years, CUSOs have been serving credit unions in many capacities, enabling them to use innovative ways to better provide services to members. In addition, CUSOs help drive down operating costs and increase noninterest income. CUSOs have saved and made millions of dollars for the credit union industry. Such benefits are undeniable.

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