Loans to Members and Lines of Credit to Members, 12 CFR 701.21 and 741

Forms and Documents

Document Name	Status
FINAL_3133-0092 Amended SS_041217.docx Supporting Statement A	2017-04-12

IC Document Collections

IC ID	Document Title	Status
222109	Financial Options Monthly Report to Regional Office	New
222108	Request for Waiver of Third Party Servicer Limits	New
222107	Enhanced Reporting for Loan Workout Activity	New
222106	Written Financial Options Policy	New
222103	Document Perfected Lien	New
222101	Attorney's Opinion for Long-Term Real Estate Notes	New
222092	Attorney's Opinion for Long-Term Real Estate Loan Applications	New
222091	Written Policy in Connection With Employee Incentives and Bonuses for Loans	New
222086	Written Overdraft Policy	New
222084	Retention of Credit Applications	New
154717	Written Loan Policy	Modified

ICR Details

OMB Control No: 3133-0092	ICR Reference No: 201606-3133-008
Status: Historical Active	Previous ICR Reference No: 199101-3133-001
Agency/Subagency: NCUA	Agency Tracking No: E&I
Title: Loans to Members and Lines of Credit to Members, 12 CFR 701.21 and 741
Type of Information Collection: Reinstatement with change of a previously approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 04/12/2017
	Date Received in OIRA: 06/28/2016
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2020	36 Months From Approved
Responses	9,328	0	0
Time Burden (Hours)	423,451	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: Section 107(5) of the Federal Credit Union Act authorizes Federal Credit Unions (FCU) to make loans to members and issue lines of credit (including credit cards) to members. Section 701.21 governs the requirements related to loans to members and lines of credit to members for FCUs. Additionally, Part 741 established requirements for all federally insured credit unions (both Federal and state charters) related to loans to members and lines of credit union members. NCUA reviews the information collections to ensure compliance with applicable regulations and laws, and to assess the safety and soundness of the credit union’s lending program.

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Authorizing Statute(s): US Code: 12 USC 1757(5) Name of Law: Federal Credit Union Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 22649	04/18/2016
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 42005	06/27/2016
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 11

IC Title	Form No.	Form Name
Written Loan Policy
Written Policy in Connection With Employee Incentives and Bonuses for Loans
Attorney's Opinion for Long-Term Real Estate Notes
Document Perfected Lien
Written Financial Options Policy
Enhanced Reporting for Loan Workout Activity
Retention of Credit Applications
Written Overdraft Policy
Attorney's Opinion for Long-Term Real Estate Loan Applications
Request for Waiver of Third Party Servicer Limits
Financial Options Monthly Report to Regional Office

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	9,328	0	0	125	-8,111	17,314
Annual Time Burden (Hours)	423,451	0	0	275	198,094	225,082
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: Adjustments in burden are due to: (1) A decrease in the number of credit unions developing written policy. Most credit unions already have loan plans in place. Only burden associated with new charters is reported. (2) Recordkeeping requirements not previously captured in prior approvals. This reinstatement provided a comprehensive review and identified collection requirements that should be incorporated into this consolidation effort. Program changes increased the burden by 275 hours due to the consolidation of information collection requirements previously cleared under OMB numbers 3133-0139 and 3133-0171. This consolidation effort intends to include information collection requirements prescribed under §701.21.

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Annual Cost to Federal Government: $28,900

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 06/28/2016

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