NCUA's Letter to CUs: 2023 Supervisory Priorities
This week, the NCUA released a letter to credit unions detailing the agency's supervisory priorities for 2023.
The letter outlines the NCUA’s supervisory priorities and other updates to the agency’s examination program for 2023. Our focus will be on the areas posing the highest risk to credit union members, the credit union industry, and the National Credit Union Share Insurance Fund (Share Insurance Fund).
The NCUA will conduct examination and supervision activities both onsite and offsite, as appropriate. Examiners will continue to conduct some examination activity offsite when the activity can be completed efficiently and effectively at credit unions that can accommodate offsite work.
The agency’s exam flexibility initiative will continue in 2023, which establishes an extended exam cycle for certain credit unions. The NCUA will also continue our Small Credit Union Exam Program in most federal credit unions with assets under $50 million. For all other credit unions, NCUA examiners will use the agency’s risk-focused examination procedures.