The NCUA sent a Letter to Credit Unions Tuesday outlining the board-approved changes to its examination scheduling policy for federally insured credit unions. The changes were approved in the December 2024 meeting and went into effect Jan. 1, 2025. They allow the NCUA to: 

• Extend the time between examinations for qualifying credit unions with assets of $1 billion to $10 billion; 
• Improve coordination with state supervisors for examinations of qualifying large federally insured, state-chartered credit unions; and 
• Better respond to emerging risks and priorities using available resources.

The new examination scheduling timeframe is also provided. In particular, these changes increase. This includes increasing the examination schedule to between 12 months and 16 months for FICUs between $1 billion and $10 billion, so long as they have a CAMELS composite and all component ratings of 1 or 2, and have had no change in CEO since their last exam.

The NCUA noted some credit unions may be examined earlier or later than the new policy’s timeframes until the agency’s examination program fully adjusts to the new policy.