The FCU Act and Bylaws require new and
current FCU to prepare and maintain documents, such as organization
certificate, charter, notices, meeting minutes, and election
results, and notify the NCUA Board of certain changes. FCU's use
the information they collect and maintain pursuant to their bylaws
in their operations and to provide services to members. NCUA uses
the information both to regulate the safety and soundness of FCU
and protect the National Credit Union Share Insurance
Fund.
A reduction of 224,226
responses and 21,864 burden hours are adjustments attributed to the
continuing trend of decreases in the number of FCUs. There are also
adjustments in the burden associated with the recordkeeping
required in Article XVI, which have increased from 12 to 24 hours
annually. This is due to increasing complexity of credit union
operations and the corresponding committee minutes required to
document such operations. A total of 436,614 burden hours are
requested.
$0
No
No
No
No
No
Uncollected
Susan Ryan 703 664-3957
No
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.