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LEADERSHIP AGENDA

ECONOMIC INDICATORS

DEPARTMENT PERFORMANCE

DEPARTMENT PERFORMANCE

Commerce - Credit Union

Jo Ann Johnson, Superintendent

Mission Statement:
To safeguard the interests of credit union depositors and stakeholders through the effective administration and execution of the laws relating to credit unions.

State chartered credit unions remain sound
Resolving complaints


MORE DEPARTMENT PERFORMANCE

  • Download PDF document  Performance Plan - How we measure our progress

  • Download PDF document  Strategic Plan - How we plan for progress

  • Download PDF document  Performance Report - How we report our progress

  • Department Home Page - Learn more about this department

Highlighted Measure:

Percent of state chartered credit unions operated in a safe and sound manner and in compliance with applicable laws and regulations.

Data Source: Credit Union Division Eamination Reporting System

Updated 12/20/2016

 

GRAPH - Credit Union CAMEL Ratings

Why this is important:
Composite CAMEL ratings are based on examinations, including a careful evaluation of an institution's managerial, operational, financial, and compliance performance. The six key components used to assess an institution's financial condition and operations are: capital adequacy, asset quality, management capability, earnings quantity and quality, the adequacy of liquidity, and sensitivity to market risk. The rating scale ranges from 1 to 5, with a rating of 1 indicating: the strongest performance and risk management practices relative to the institution's size, complexity, and risk profile; and the level of least supervisory concern. A 5 rating indicates: the most critically deficient level of performance; inadequate risk management practices relative to the institution's size, complexity, and risk profile; and the greatest supervisory concern. The composite ratings are defined as follows:

Composite 1 Rating - indicates strong performance and risk management practices, and any weaknesses are minor and can be handled in a routine manner. These credit unions give no cause for supervisory concern.
Composite 2 Rating - reflects satisfactory performance and risk management practices, areas of weakness may be present but are considered minor and if left unchecked could develop into greater concern. These credit unions have minor supervisory contact.
Composite 3 Rating - represents performance that is flawed to some degree and risk management practices may be less than satisfactory, credit unions require more than usual supervisory attention to address deficiencies.
Composite 4 Rating - refers to poor performance of serious supervisory concern that, if left unchecked, would be expected to lead to conditions that could threaten the viability of the credit union, and weaknesses and problems are not being satisfactorily resolved.
Composite 5 Rating - considered unsatisfactory performance that is critically deficient and in need of immediate remedial attention, weaknesses and severity of problems are beyond management's ability or willingness to control or correct, and these conditions directly threaten the viability of the credit union. These credit unions have a high probability of failure, are under continuous supervisory scrutiny and involvement, and will likely require emergency assistance, liquidation, merger or acquisition.


What we're doing about this:
The Division works to identify, measure, monitor, and control unacceptable levels of risk through a risk-focused supervision and examination program.  Administrative action by the Division as needed, including Documents of Resolution, Letters of Understanding and Agreement, Cease and Desist Orders, and additional supervisory contact with a credit union, works to manage the risk presented by credit union operations.

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Highlighted Measure:

Percent of complaints resolved within 60 days of receipt.

 

Data Source: Credit Union Division Database Reporting System

Updated 12/20/2016

GRAPH - Complaints Resolved in 30 Days

Why this is important:
To improve communication and accessibility to information, the Division aims to enhance external and internal communication in areas of administration and legislation.  Prompt and timely resolution to member complaints helps to provide effective administration and execution of the laws relating to credit unions.


What we're doing about this:
The Division has expanded the complaint resolution process, evaluating new complaints for legal issues that may require additional research.  When appropriate, responses sent to consumers often explain in layman’s terms the effect of complex federal and state laws and regulations on the specific complaint, as well as an analysis of a consumer’s account activity.  In certain cases, guidance may also be provided to a specific credit union regarding best practices and legal compliance.

Although we strive to resolve and close complaints within the 60-day target, there are complicated complaints that require extended investigation and involve input from the Attorney General's Office.


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