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

Forms and Documents

Document Name	Status
12CFR701-21_(1-1-20 ED).pdf Supplementary Document	2020-04-30
12CFR741_ApxB_(1-1-20 ED).pdf Supplementary Document	2020-04-30
FINAL_3133-0092_Supporting_Statement_0043020.docx Supporting Statement A	2020-04-30

IC Document Collections

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

ICR Details

OMB Control No: 3133-0092	ICR Reference No: 202002-3133-002
Status: Active	Previous ICR Reference No: 201606-3133-008
Agency/Subagency: NCUA	Agency Tracking No: E&I
Title: Loans to Members and Lines of Credit to Members, 12 CFR 701.21 and Apx. B to 741
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 06/04/2020
	Date Received in OIRA: 04/30/2020
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	06/30/2023	36 Months From Approved	06/30/2020
Responses	21,534	0	9,328
Time Burden (Hours)	21,584	0	423,451
Cost Burden (Dollars)	0	0	0

---

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.

---

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

Citations for New Statutory Requirements: None

---

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

---

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 9809	02/20/2020
30-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 23536	04/28/2020
Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 1

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

---

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	21,534	9,328	0	0	12,206	0
Annual Time Burden (Hours)	21,584	423,451	0	0	-401,867	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to:

Short Statement: Adjustment have been made to the number of respondents to reflect the current number of credit unions reporting. The time per response has been corrected to reflect only that burden required to retain/maintain the records under the PRA. A total of 401,917 burden hours has been removed as a result of these adjustments. A total of 21,534 burden hours is requested.

---

Annual Cost to Federal Government: $59,840

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

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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? No

---

Common Form ICR:  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:

(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: 04/30/2020

---