Thank you for presenting a forward-looking approach to modernize and integrate the agency’s IT systems.
It’s very important to emphasize that as a result of this modernization, credit unions will benefit as well as NCUA. When examiners are able to review all relevant information about their assigned credit unions from one off-site location, examiners will spend less time on-site at credit unions.
In addition, the integration of NCUA systems will streamline many processes for credit unions. Instead of logging in separately to incompatible NCUA systems running on outdated technology, credit union officials will be able to take a wide variety of actions at their convenience through a new single interface.
For example, credit union officials will be able to request field-of-membership expansions, preview member complaints, file Call Reports, apply for grants, and make timely payments—all from one dashboard on their desktop.
And I hope stakeholders appreciate all the work NCUA will be doing to manage these upgrades with minimal budget impact.