The National Credit Union Administration (NCUA) issued a reminder to credit union service organizations (CUSOs) that they must register with the agency by March 31.
Under the terms of NCUA’s “enhanced CUSO rule,” which was approved by the board in November 2013, federally insured credit unions are responsible for ensuring the CUSOs they make loans to or invest in agree to provide certain information directly to NCUA.
NCUA also noted that CUSOs are encouraged to begin the registration process “as soon as possible to fully utilize the technical assistance” available to them. In addition, early registration also will allow CUSOs to avoid any problems that may occur as users rush to complete their registrations by the deadline.
Once a CUSO is registered, the following information will be available to the public: legal name and any trade names; CUSO registry number assigned by NCUA; services offered; physical address; public website address, if provided by the CUSO; and public phone number, if provided by the CUSO.
To assist CUSOs in completing the registration process, the agency has created a series of short instructional videos that explain how to use the registry and its different functions.
The 10-part series is available online at:
