NCUA Hears 'Useful and Necessary' Feedback From Pilot Survey Project

One thousand fifty-eight surveys are sent out to credit union executives with a 17% response rate.

NCUA Boardroom. (Photo: NCUA)

During a 49-minute NCUA board meeting Thursday, board members listened to results from the agency’s Post-Examination Pilot Survey that was administered by the NCUA’s Ombudsman.

According to NCUA officials, 1,058 surveys were distributed to credit unions between Sept. 20, 2021 and March 31, 2022 with a 17% response rate.

The voluntary survey included five questions concerning “pre-examination, reporting and post-examination requirements along with one open-ended question” at the conclusion of a credit union’s regular examination. The survey was distributed to credit unions of all asset sizes.

“The NCUA’s field examiners play a critical role in protecting credit union members, the system and the National Credit Union Share Insurance Fund,” NCUA Chairman Todd Harper said. “The new post-examination survey the NCUA has piloted is well crafted and has provided valuable feedback on the agency’s program. And, the survey’s results demonstrate that examiners are performing well overall. I would like to thank Vice Chairman Hauptman for his leadership in advancing this initiative.”

Slide of NCUA Survey Results.

The NCUA’s Acting Ombudsman, Shameka Sutton said the information gathered by the pilot survey was “useful and necessary” as well as “generally overall positive feedback.”

Of the insights and feedback from the survey, Sutton presented six areas to consider by the NCUA. Those included:

  1. Add more qualitative questions;
  2. Recognize the value of using a third-party to administer the survey;
  3. Communicate plans for dissemination and distribution of survey results;
  4. Explore ways to increase participation;
  5. Consider credit union asset size in determining survey questions; and
  6. Consider options to automate the survey process and to expand reporting.

According to Sutton, a 17% response rate falls within the reasonable response rate of 15% to 20%.

NCUA officials said the next steps “include extending the current pilot project, determining future survey questions and researching non-NCUA entities to administer the survey.”

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