Credit union regulator on cusp of deploying new recordkeeping system

A new system of record keeping meant to fulfill the agency’s obligations under federal privacy statutes is up for comment by the federal credit union regulators; a notice is set to be published Tuesday in the Federal Register.

The notice is required under the federal Privacy Act of 1974.

The new system by the National Credit Union Administration (NCUA) is dubbed the “Examination and Supervision System” (ESS, also known as NCUA-22) and will be used, the agency said in its notice submitted to the Register, to track and store examination and supervision documents created as the agency carries its statutory duties. That includes: the coordination and conduct of examinations of credit unions, supervisory evaluations and analyses, enforcement actions and federal court actions, according to the notice.

More specifically, according to the Register notice, the system will include records in such categories as:

  • Contact information about credit union officials (such as members of the board members, audit committee chair, chief executive officer, chief compliance officer, internal auditor, and independent auditor), including name, address, phone number, and e-mail address;
  • Demographic and financial information about individual credit union members (such as name, address, Social Security number, account information, loan and share information, and publicly available information);
  • Information about NCUA employees assigned to credit union examination and supervision tasks (such as name, work phone number, work e-mail address, and other employment information;
  • User information (such as name, email address, and role about other users of the system, including contractors, credit union representatives, State Supervisory Authority staff, and Credit Union Service Organization representatives (CUSOs)).

The agency is seeking comments on the proposed system for 30 days (likely beginning Tuesday).

Privacy Act of 1974: Systems of Records