AUSTIN, Texas The Texas CU Department on Wednesday said it will start telling state chartered credit unions their state CAMEL code beginning in September.
Deputy CU Commissioner Dan Buckley said the Department has always assigned separate CAMEL codes from NCUA but has not disclosed them until now. He said many boards have asked about the state codes. “We are just being more transparent with them,” he added.
Examiners will disclose each rating component to the 192 state charters and the composite rating in the Report of Examination. The rating will remain the property of the Department and may not be disclosed by the credit union.
NCUA compiles its own separate CAMEL rating for all federally insured credit unions. The NCUA CAMEL rating is nonpublic.
Regulations provide that the Report of Examination, which contains the CAMEL rating, is nonpublic information and the property of the Department. Except in very limited circumstances (pre-approved by the Department), state chartered credit unions may neither disclose a Report of Examination or any portion of the report, nor make any representations concerning the report or the report’s findings.
