[Federal Register Volume 61, Number 7 (Wednesday, January 10, 1996)]
[Notices]
[Pages 731-733]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-371]
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NATIONAL CREDIT UNION ADMINISTRATION
Information Collection Under Review
January 10, 1996.
The National Credit Union Administration (NCUA) has submitted the
following public information collection requests to the Office of
Management and Budget (OMB) for review and clearance under the
Paperwork Reduction Act of 1995 (Pub. L. 104-13, 44 U.S.C. Chapter 35).
The proposed information collections are published to obtain comments
from the public. Public comments are encouraged and will be accepted
for sixty days from the date listed at the top of this page in the
Federal Register.
Copies of these individual information collection requests, with
applicable supporting documentation, may be obtained by calling the
NCUA Clearance Officer, Suzanne Beauchesne, at (703) 518-6412. Written
comments and/or suggestions regarding the information collection
requests listed below should be directed to Ms. Beauchesne, Office of
Administration, National Credit Union Administration, 1775 Duke Street,
Alexandria, Virginia 22314 within 60 days from the date of this
publication in the Federal Register. Comments should also be sent to
the OBM Desk Officer indicated below at the following address: OMB
Reports Management Branch, New Executive Office Building, Room 10202,
Washington, DC 20530. Attn: Milo Sunderhauf.
National Credit Union Administration
OMB Number: 3133-0016.
Form Number: None.
Type of Review: Extension of currently approved collection of
information.
Title: Letter of Understanding and Agreement.
Description: The Letter of Understanding and Agreement requires the
credit union to submit financial and statistical reports to the NCUA on
a monthly basis. The collection of financial information is used by the
NCUA and the credit union to assess the credit unions' financial
condition and to minimize potential losses to the National Credit Union
Share Insurance Fund.
Respondents: Federally insured credit unions.
Estimated Number of Respondents/Recordkeepers: 219.
Estimated Burden Hours Per Response: 30 minutes.
Frequency of Response: Monthly.
Estimated Total Annual Burden Hours: 1,314 hours.
Estimated Total Annual Cost: $19,552.32.
OMB Number: 3133-0024.
Form Number: None.
Type of Review: Extension of a currently approved collection.
Title: Mergers of Federally Insured Credit Unions.
Description: As authorized by 12 U.S.C. Sec. 1766 and Part 708b, of
NCUA's
[[Page 732]]
regulations, credit unions that wish to merge must: (1) develop a plan
of merger and submit it to NCUA for approval; (2) provide its members
with notice of the meeting at which the proposed merger will be voted
on; (3) provide its members with a summary of the plan of merger; (4)
advise the NCUA of the election results; and (5) notify NCUA of the
merger's completion. The information collection is reviewed by NCUA to
determine whether to permit the proposed merger and to ensure that the
merger is completed pursuant to all applicable laws and regulations.
The credit union's members use the information to decide whether to
vote for the proposed transaction.
Respondents: Federal credit unions.
Estimated Number of Respondents/Recordkeepers: 200.
Estimated Burden Hours per Response: 15 hours.
Frequency of Response: On occasion.
Estimated Total Reporting Burden: 3,000 hours.
Estimated Total Annual Cost: $44,640.
OMB Number: 3133-0032.
Form Number: None.
Type of Review: Extension of a currently approved collection.
Title: Records Preservation.
Description: The information storage requirement enables credit
unions to reconstruct their records in the event the credit union's
primary records are destroyed by a catastrophe. Without the duplicate
records, a credit union could not reconstruct its records and serve its
members.
Respondents: Federal credit unions.
Estimated Number of Respondents/Recordkeepers: 22,836.
Estimated Burden Hours Per Response: 2 hours.
Frequency of Response: Quarterly.
Estimated Total Reporting Burden: 23,672 hours.
Estimated Total Annual Cost: $591,800.
OMB Number: 3133-0035.
Form Number: None.
Type of Review: Extension of a currently approved collection.
Title: Trustees and Custodians of Pension Plans.
Description: The Employee Retirement Income Security Act of 1974
(ERISA) (P.L. 93-406) and Part 724 of NCUA's regulations require credit
unions that act as trustees or custodians for retirement plans, to
maintain individual records for each participant, and to notify the
participants of the insurance status of their account(s). The records
and the notice are used by the credit union member to make investment
decisions and to track the progress of their account.
Respondents: Federal credit unions.
Estimated Number of Respondents/Recordkeepers: 3,877.
Estimated Burden Hours per Response: 3 minutes.
Frequency of Response: On Occasion.
Estimated Total Reporting Burden: 193,850 hours.
Estimated Total Annual Cost: $2,884,488.
OMB Number: 3133-0052.
Form Number: None.
Type of Review: Extension of a currently approved collection.
Title: Federal Credit Union Membership.
Description: When a credit union denies a membership application,
the Federal Credit Union Act, 12 U.S.C. Sec. 1761b(16), and Article I,
section 2 of the Standard Federal Credit Union Bylaws require the
credit union to provide the applicant with written reasons for the
denial, upon the applicant's written request. The credit union must
also retain a copy of the reasons. The applicant and the NCUA use the
information to determine whether the credit union had a reasonable
basis to deny the membership application.
Respondents: Federal credit unions.
Estimated Number of Respondents/Recordkeepers: 1,874.
Estimated Burden Hours per Respondent: 1 hour.
Estimated Total Annual Burden Hours: 1,874 hours.
Estimated Total Annual Cost: None.
OMB Number: 3133-0057.
Form Number: None.
Type of Review: Extension of a currently approved collection.
Title: Monthly Board Meeting Minutes.
Description: Sections 110 and 113 of the Federal Credit Union Act,
12 U.S.C. Secs. 1760 and 1761b and Article VIII, Section 8 of the
Standard Federal Credit Union Bylaws require credit unions to maintain
the minutes of all meetings of its board of directors and members.
Credit unions use the information to maintain an accurate record of the
actions of its board of directors. NCUA uses the information during
examinations to evaluate the conduct and policies of the credit union's
board of directors.
Respondents: Federal Credit Unions.
Estimated Number of Respondents/Recordkeepers: 7,498.
Estimated Burden Hours per Response: 15 minutes.
Frequency of Response: 13 times a year.
Estimated Total Reporting Burden: 24,368.5 hours.
Estimated Total Annual Cost: None.
OMB Number: 3133-0058.
Form Number: None.
Type of Review: Extension of a currently approved collection.
Title: Credit Committee Records.
Description: Section 108 of the Federal Credit Union Act, 12 U.S.C.
Sec. 1758, and Article IX, Sections 3 and 4 of the Standard Federal
Credit Union Bylaws requires credit unions to maintain records of its
credit committee's loan approvals and denials. NCUA uses the
information during its examinations of credit unions to evaluate the
conduct of the credit union's credit committee.
Respondents: Federal credit unions.
Estimated Number of Respondents/Recordkeepers: 7,498.
Estimated Burden Hours per Response: 20 minutes.
Frequency of Response: 24 times per year.
Estimated Total Reporting Burden: 59,984 total annual hours.
Estimated Total Annual Cost: $892,561.92.
OMB Number: 3133-0080.
Form Number: None.
Type of Review: Extension of a currently approved collection.
Title: Meetings of Federal Credit Union Board.
Description: Article VII, Section 4 of the Standard Federal Credit
Union Bylaws require a written request by a majority of the directors
in order to call a special meeting of the board.
Respondents: Federal credit unions.
Estimated Number of Respondents/Recordkeepers: 7,498.
Estimated Burden Hours per Response: 24 minutes.
Frequency of Response: On Occasion.
Estimated Total Reporting Burden: 300 total annual burden hours.
Estimated Total Annual Cost: None.
OMB Number: 3133-0081.
Form Number: None.
Type of Review: Extension of a currently approved collection.
Title: Credit Union Bylaws and Certificate.
Description: Article XIX, Section 5 of the Standard Federal Credit
Union Bylaws requires credit unions to maintain copies of its
organization certificates, bylaws, amendments and special
authorizations. The collection of information is used by the NCUA
during its examination of the credit union.
Respondents: Federal credit unions.
Estimated Number of Respondents/Recordkeepers: 7,498.
Estimated Burden Hours per Response: 12 minutes.
[[Page 733]]
Frequency of Response: Annually.
Estimated Total Reporting Burden: 1,500 hours.
Estimated Total Annual Cost: None.
OMB Number: 3133-0117.
Form Number: None.
Type of Review: Extension of a currently approved collection.
Title: Credit Union Bylaws and Certificate.
Description: This information collection is required by 12 U.S.C.
Sec. 1757(6), and section 701.32(d) of NCUA's regulations so that the
NCUA can determine whether to grant a low-income designation to a
credit union.
Respondents: Federal credit unions.
Estimated Number of Respondents/Recordkeepers: 15.
Estimated Burden Hours per Response: 15 hours.
Frequency of Response: On Occasion.
Estimated Total Reporting Burden: 225 hours.
Estimated Total Annual Cost: $5625.
OMB Number: 3133-0129.
Form Number: None.
Type of Review: Extension of a currently approved collection.
Title: Corporate credit unions.
Description: Part 704 of NCUA's regulations requires corporate
credit unions (``corporate'') to engage in information collection and
record keeping activities so that the corporate and the NCUA can
monitor the corporate's financial condition and transactions with
vendors.
Respondents: Corporate credit unions.
Estimated Number of Respondents/Recordkeepers: 43.
Estimated Burden Hours per Response: 86 hours.
Frequency of Response: On Occasion.
Estimated Total Reporting Burden: 3,698 hours.
Estimated Total Annual Cost: $55,026.24.
OMB Number: 3133-0130.
Form Number: None.
Type of Review: Extension of a currently approved collection.
Title: Written Reimbursement Policy.
Description: This information collection is authorized under
sections 114 and 120 of the Federal Credit Union Act, 12 U.S.C.
Secs. 1761(c) and 1766(a) and section 701.33(B)(2)(1) of NCUA's
regulations, 12 C.F.R. Sec. 701.33(B)(2)(1). The information collection
ensures that any payments to directors are made in accordance with
standards set in advance by the credit union's board of directors and
enables NCUA examiners to easily verify compliance by comparing the
policy to the actual reimbursements.
Respondents: Federal Credit Unions.
Estimated Number of Respondents/Recordkeepers: 7,498.
Estimated Burden Hours per Response: 2 hours.
Frequency of Response: Once, and updated as needed.
Estimated Total Reporting Burden: 14,996 total burden hours.
Estimated Total Annual Cost: None.
By the National Credit Union Administration Board on January 4,
1996.
Becky Baker,
Secretary of the Board.
[FR Doc. 96-371 Filed 1-9-96; 8:45 am]
BILLING CODE 7535-01-M
