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

Forms and Documents

Document Name	Status
FINAL_SS_3133-0092_9.6.2024 FINAL.docx Supporting Statement A	2024-09-13
2024-07464.pdf Supplementary Document	2024-09-10
12CFR701-21_(1-1-20 ED).pdf Supplementary Document	2020-04-30
12CFR741_ApxB_(1-1-20 ED).pdf Supplementary Document	2020-04-30

IC Document Collections

IC ID	Document Title	Status
154717	Loans to Members & Lines of Credit to Members	Modified

ICR Details

OMB Control No: 3133-0092	ICR Reference No: 202409-3133-001
Status: Received in OIRA	Previous ICR Reference No: 202107-3133-002
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: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 09/25/2024

	Requested	Previously Approved
Expiration Date	36 Months From Approved	10/31/2024
Responses	180,824	23,534
Time Burden (Hours)	16,343	23,584
Cost Burden (Dollars)	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:
	89 FR 24868	04/09/2024
30-day Notice:	Federal Register Citation:	Citation Date:
	89 FR 78344	09/25/2024
Did the Agency receive public comments on this ICR? No

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

IC Title	Form No.	Form Name
Loans to Members & Lines of Credit to Members

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ICR Summary of Burden

	Total Request	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	180,824	23,534	0	0	157,290	0
Annual Time Burden (Hours)	16,343	23,584	0	0	-7,241	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: The information collection burden has changed due to adjustments in the estimate of respondents. The number of respondents decreased due to the number of applicable credit unions. This revision would decrease the annual burden from 23,584 to 16,343 for a total decrease of 7,241 annual burden hours.

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Annual Cost to Federal Government: $231,400

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? Yes

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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: 09/25/2024

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