Federally chartered credit unions in nine states will move from one NCUA Region to another in 2014, the agency said Thursday.
As of Jan. 1, federal credit unions in Colorado, Montana, New Mexico and Wyoming will move from Region V to Region IV.
FCUs in Louisiana and Arkansas will move from Region IV to Region III. Federally chartered credit unions in Wisconsin will move from Region IV to Region 1; Ohio's FCUs will move from Region III to Region II and California federally chartered credit unions will move from Region II back to Region V.
The changes will mean each region will have between 114 and 128 examiners.
(Click on the image above to see enlarged version.)
“We continually monitor our regional workload and, when necessary, make adjustments to distribute exam hours proportionally,” NCUA Board Chairman Debbie Matz said in the announcement.
“Several years ago, NCUA moved California, Nevada and several individual credit unions, for supervision purposes, to different regions,” she said.
“Now that the economic downturn has ended, with the economy gaining strength and with the credit union industry generally performing well, we are reconfiguring our regions to create geographically compact districts that better balance workload, improve efficiency and reduce travel costs by more than $900,000 per year,” Matz said.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
