NCUA Posts New Video Tutorials on Using the CUSO Registry
ALEXANDRIA, Va. (March 21, 2016) – The National Credit Union Administration today reminded credit union service organizations that they have until March 31 to register with the agency.
As part of NCUA’s enhanced CUSO rule approved by the Board in November 2013, federally insured credit unions are responsible for ensuring the CUSOs they make loans to or invest in agree to provide certain information directly to NCUA.
CUSOs can register online at http://go.usa.gov/cPcy5 (opens new window). There is no fee to use the agency’s CUSO Registry.
Watch Video Tutorials on the CUSO Registry
To help CUSOs complete the registration process, NCUA has developed a series of short instructional videos that detail how to use the registry and its different functions. The 10-part series is available online http://bit.ly/1R1mPxm (opens new window).
In addition to the video tutorials, NCUA hosted a webinar in February how to use the system and complete the registration process. An archived version of this webinar is available on NCUA’s public website here (opens new window).
Additional information, including a user manual, instructions, quick guides, FAQs and supervisory guidance related to the changes in NCUA’s rules governing the relationship between credit unions and CUSOs are also available on the CUSO Registry page.
Register Early to Take Advantage of Available Technical Support
CUSO’s are encouraged to begin the registration process as soon as possible to fully utilize the technical assistance available to them. Early registration also will allow CUSOs to avoid any issues that may occur as users rush to complete their registrations by the deadline.
Users can contact NCUA’s technical support desk at 1-800-827-3255 or firstname.lastname@example.org for assistance. The help desk is open from 7 a.m. to 8 p.m. Eastern, Monday through Thursday, and 7 a.m. to 6 p.m. on Friday.
Registry’s Searchable Feature Available Mid-2016
The Freedom of Information Act and NCUA’s FOIA regulations will apply to the information CUSOs submit to NCUA. This means the following information found in a CUSO’s “general information tab” will be publically available and searchable starting in mid-2016:
- Legal name and any trade names;
- CUSO Registry number assigned by NCUA;
- Services offered;
- Address (physical, if different from mailing address);
- Public website address, if provided by the CUSO; and
- Public phone number, if provided by the CUSO.
Sensitive information, such as confidential commercial or financial information and trade secrets will be protected. Such information will be withheld under the applicable exemptions in FOIA and the agency’s own FOIA regulations.
CUSOs that have already completed their registration are encouraged to review their submissions to ensure they do not have any non-public information in their general information tab.
In addition, NCUA plans to share CUSO-related information with state supervisory authorities that have signed written information-sharing agreements with the agency.
Finally, NCUA will make the public data provided by CUSOs available for download on its website, in a similar fashion as the quarterly Call Report data. NCUA will provide additional information when this capability becomes available.
For more information on the CUSO Registry and the registration process, go to http://go.usa.gov/cGshk (opens new window).