Paperwork Reduction Act Statement:
An agency may not conduct or sponsor an information collection and a person is not required to respond to this information unless it displays a current valid OMB control number and an expiration date.
The control number for this collection is 3133-0149. The estimated average time to complete this application is 30 minutes for a CUSO’s basic information and 3 hours if engaged in complex activities. If you have any comments regarding the burden estimate you can write to the National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314. Expiration 2/28/2022.
Privacy Act Statement:
AUTHORITY: 12 U.S.C. §§1756, 1757(5)(D) and (7)(I), 1766, 1782, 1784, 1785, and 1786.
PURPOSE: The collected information enables NCUA to identify concentrations and interdependencies between CUSOs and across supervised credit unions. It also improves consistency and transparency of CUSO information and facilitates NCUA’s ability to identify any potential systemic safety and soundness concerns stemming from relationships between credit unions and CUSOs.
ROUTINE USE(S): NCUA may share information in this system with appropriate federal or state financial supervision authorities. Contact information is used for communication and authentication purposes. A registered CUSO may authorize other users, such as owner credit unions or affiliated CUSOs or individuals, to access its records.
EFFECTS OF NOT PROVIDING INFORMATION: The information submission is a required to allow federal credit unions to invest in or loan to the CUSO. Failure to provide some or all of the information requested may result in supervisory action against credit unions with an investment or loan to the CUSO.