I think NCUA will need even more examiners if they begin treating all credit unions like they treat us.
We have a healthy net worth well over the 7% threshold and post-assessment ROAA that's better than 2%, strong net worth growth with an acceptable level of delinquency and loan losses, yet NCUA spends about 500 hours per year on site, and who knows how much more off site, on our credit union. Our CAMEL rating does not reflect our stellar FPR numbers and NCUA nitpicks more than examines the entire time they are here.
They intimidate and coerce our staff to try to make them say something they can use against us, and after all this, they copy loan exceptions from the previous year to pad the exam report and DOR.
One time they will come in and tell us to add something to our loan policy, only to tell us to take it out the next time they come to see us.
They're spending more than double the amount of time examining a relatively healthy credit union than is really necessary. No wonder they need to hire more examiners.
What problems my credit union has are the kinds of problems most credit unions would die for, yet somehow we have been relegated to problem status.
I don't think they could increase the budget enough-pretty soon they will be living on site and all my employees will be able to go home because NCUA will be running the place.
Fearing reprisal from our examiner, I ask that this letter be published anonymously.
Name Withheld Upon Request