Compliance Blog

Written by Steve Van Beek

On Wednesday, NCUA announced a change to their electronic communication system - NCUA Express - that non-credit unions have been hoping for.  In fact, Anthony included it as #2 on his Dear Santa list last year.  Here is from NCUA's press release:

"NCUA Express is a voluntary electronic notification system that allows subscribers to receive email or RSS feed announcements anytime something gets posted to the NCUA website. NCUA Express subscribers can now  customize and manage their announcement list to receive specific types of notifications.  With the changes announced today, anyone interested in credit union issues may register to receive updates about NCUA’s activities." (emphasis added).

In the past, only persons who worked at a federally-insured credit union could sign up for the NCUA Express.  And, even then, had to work with a system administrator at their credit union to sign up or update their subscription preferences.  Going forward, this change will greatly increase the flow of information to all persons interested in credit union issues.

Existing NCUA Express users do not need to act as their information will be automatically transferred over to the new system.  Folks looking to sign up to the NCUA Express for the first time can do so here.  You can choose to sign up for all alerts or limit your subscriptions to particular areas (such as Letters to Credit Unions and Legal Opinion Letters).  Currently, the email version of updates is available and the website indicates RSS feeds will be available in the future.

This is a great step for NCUA as it will help ensure folks who work with credit unions on a daily basis, including us at NAFCU, receive industry information at the same time as credit unions.  

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NCUA also announced the creation of a new service, NCUA Dispatch, that will provide updates directly to credit unions on important issues:

"NCUA Dispatch, a new email notification  service, will electronically blast notices to credit  unions’ and state regulators’ official email accounts. NCUA Dispatch will eventually replace most paper mailings, improving NCUA’s ability to communicate quickly and easily in a cost effective and green manner. NCUA Dispatch will be used for both routine and emergency notifications to the credit union industry."

Credit unions do not need to sign-up for the NCUA Dispatch as it will automatically be sent to credit unions.