OAK HARBOR, Ohio-Commodore Perry FCU expects to know this month the results of its appeal to NCUA's Supervisory Review Committee. CPFCU is appealing its latest examination results, specifically its CAMEL rating, to NCUA claiming the rating is "retaliatory" (Credit Union Journal, Oct. 29).
"We presented accurate data," said President Thomas Renz, shortly after going before the supervisory panel. "We gave them 390 more pages of information, bringing our documentation to more than 750 pages. We presented out case as clearly and objectively as we could."
Commodore Perry first appealed to the regional office in Atlanta this summer, and received back a "boilerplate" letter stating the appeal had been rejected, it said. It then appealed to the SRC and also sent another letter to the regional office seeking an explanation for why the regional director rejected the original appeal.
But what Renz said really troubles him is that the $33-million CU must now prove the regional director's determinations are erroneous, a much more difficult task. Renz said NCUA did not give an exact date for its ruling, but he assumes it will be the first week of December.