The NCUA has told Commodore Perry FCU that because it requested further explanation regarding its denied exam appeal from its regional office, elevating the appeal to the Supervisory Review Committee was premature, the Ohio credit union said.
The $32 million credit union has appealed the results of its latest examination, saying the NCUA examiner harassed and bullied its staff and then retaliated by filing a negative report.
"We are not exactly certain why a request for clarification would delay that, but we hope to get this done as expeditiously as possible," said Thomas Renz, the Oak Harbor, Ohio, credit union's president and chief development officer
{ The story line:
- Oct. 26, 2012 Commodore Perry Appeal Set for Nov. 7
- Oct. 25, 2012 CPFCU Prez, Attorney Say Appeals Process Dodges Real Issue
- Oct. 25, 2012 Appeals Panel Can Toss Commodore Perry Exam Findings
- Oct. 24, 2012 Ohio CU Left Wondering How to Prep for Appeal
- Oct. 11, 2012 NCUA Stands by Examiner in Harassment Appeal
- Oct. 9, 2012 NCUA Buys Time in Commodore Perry Appeal
- Oct. 4, 2012 Commodore Perry FCU Says Documentation Proves Claims
- Oct. 3, 2012 Ohio CU Says NCUA Examiner Harassed, Retaliated }
Renz said Tuesday that the 4,800-member credit union received an explanatory letter back from Region 3 Director Herb Yolles, but Renz declined to discuss the contents of the letter because it concerns subjects such as the credit union's CAMEL rating, which it can't publicly disclose.
"I would be ecstatic to share some of what we've been given, but we're prohibited by NCUA rules from sharing information about CAMEL scores and exams," Renz said, "and frankly, we find that to be a serious issue because that means there's no transparency in the process."
Because Renz has received a response back from the Regional Office and the credit union is not satisfied with the answer, Commodore Perry will reaffirm its desire to elevate its appeal to the NCUA's SRC, he said.
Renz said the letter was going out Tuesday, prompting another 30-day wait-and-see period for the credit union and its officials. Renz added that the credit union will include Yolles' response letter as part of its request for an in-person presentation to the SRC.
Renz said despite the credit union's continued desire to have its exam appeal heard by the NCUA's highest appeal authority, his credit union still has hopes that "the NCUA will come through and do the right thing."
"All they need to do is recognize there are some issues with the appellate process and fix it," he said. "We would be glad to work with them to repair the process."
The appeal would be the fifth heard by the SRC in the past decade; none of the previous four were ruled in favor of the credit union.
An NCUA spokesman on Tuesday reaffirmed the agency's previous statement that it cannot comment on appeals.
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