[Federal Register Volume 78, Number 172 (Thursday, September 5, 2013)]
[Notices]
[Pages 54682-54683]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-21495]
-----------------------------------------------------------------------
NATIONAL CREDIT UNION ADMINISTRATION
Agency Information Collection Activities: Submission to OMB for
Reinstatement, With Change, of a Previously Approved Collection;
Comment Request
AGENCY: National Credit Union Administration (NCUA).
ACTION: Request for comment.
-----------------------------------------------------------------------
SUMMARY: The NCUA intends to submit the following information
collection 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). This information collection is related to the
Federal Credit Union (FCU) Bylaws and is being published to obtain
comments from the public. The bylaws address a broad range of matters
concerning: An FCU's organization and governance; the FCU's
relationship to members; and the procedures and rules an FCU follows.
DATES: Comments will be accepted until October 7, 2013.
ADDRESSES: Interested parties are invited to submit written comments to
the NCUA and OMB Contacts listed below:
NCUA Contact: Tracy Crews, National Credit Union Administration,
1775 Duke Street, Alexandria, Virginia 22314-3428, Fax No. 703-837-
2861, Email: [email protected].
OMB Contact: Office of Management and Budget, ATTN: Desk Officer
for the National Credit Union Administration, Office of Information and
Regulatory Affairs, Washington, DC 20503.
FOR FURTHER INFORMATION CONTACT: Requests for additional information, a
copy of the information collection request, or a copy of submitted
comments should be directed to Tracy Crews, NCUA, 1775 Duke Street,
Alexandria, VA 22314-3428, or at (703) 518-6444. Requests for
additional information about the FCU Bylaws should be directed to Susan
Ryan, NCUA Consumer Access Analyst, at the same address, in the Office
of Consumer Protection, Division of Consumer Access, (703) 518-1150,
[email protected].
SUPPLEMENTARY INFORMATION:
I. Abstract and Request for Comments
The FCU Act requires the NCUA Board to prepare bylaws for FCUs. 12
U.S.C. Part 1758. After consideration of public comment, the NCUA Board
adopted the FCU Bylaws and incorporated them into NCUA's regulations at
12 CFR 701.2, and Appendix A to part 701, in 2007. Unless a federal
credit union adopted its bylaws before November 30, 2007, it must adopt
the 2007 bylaws. FCUs use the information they collect and maintain
pursuant to their bylaws in their operations and to provide services to
members. NCUA uses the information both to regulate the safety and
soundness of FCUs and protect the National Credit Union Share Insurance
Fund.
NCUA is issuing this notice and request for comment on the
reinstatement and amendment of the previously approved information
collection PRA number related to the FCU Bylaws, 3133-0052. Staff has
incorporated into this collection other previously expired or combined
information collections also related to the bylaws, including 3133-0057
and 3133-0081. The amount of burden hours is decreasing as a result of
technology and the continuing trend of annual decreases in the number
of FCUs.
NCUA staff reviewed each of the articles of the FCU Bylaws to
identify all current information collection requirements. As a
preliminary matter, those persons choosing to organize a new FCU must
comply with certain information collection requirements upon starting
the FCU and first adopting these bylaws. Over the past three years,
organizers have established an average of approximately two new FCUs
each year. We estimate each new FCU must spend approximately 20 hours
to initially comply with the bylaws' information collection
requirements (ICR), for a total annual collection of 40 hours.
For current FCUs, it has been a usual and customary business
practice, since their initial charter dates, to collect and
[[Page 54683]]
maintain any information as specified the bylaws. NCUA staff also
reviewed each Article of the FCU Bylaws to estimate current annual
burden hours for FCUs attached to each ICR, and we have listed these
estimates below in the Data section.
NCUA does not believe that FCUs will incur any additional labor
costs as a result of the bylaw requirements since these are in
accordance with the FCUs' usual and customary business practices. The
FCU bylaws address integral parts of an FCU's operations as member-
owned, not-for-profit financial cooperatives. Since an FCU could not
operate as federally chartered and insured credit union without
complying with these collections, there is no additional labor cost
burden.
The NCUA requests that you send your comments on this collection to
the location listed in the addresses section. Your comments should
address: (a) The necessity of the information collection for the proper
performance of NCUA, including whether the information will have
practical utility; (b) the accuracy of our estimate of the burden
(hours and cost) of the collection of information, including the
validity of any methodology and assumptions used; (c) ways we could
enhance the quality, utility, and clarity of the information to be
collected; and (d) ways we could minimize the burden of the collection
of the information on the respondents such as through the use of
automated collection techniques or other forms of information
technology. It is NCUA's policy to make all comments available to the
public for review.
II. Data
Title: Federal Credit Union (FCU) Bylaws, 12 CFR Sec. 701.2, and
App. A to Part 701.
OMB Number: 3133-0052.
Form Number: N/A.
Type of Review: Reinstatement, with change.
Description: FCUs use the information they collect and maintain
pursuant to their bylaws in their operations and to provide services to
members. NCUA uses the information both to regulate the safety and
soundness of FCUs and protect the National Credit Union Share Insurance
Fund.
Respondents: All FCUs and, for Art. 2, estimated number of new FCU
members (per year).
Estimated No. of Respondents/Recordkeepers: 4,220 FCUs and
1,461,335 new members = 1,465,555.
Frequency of Response: Recordkeeping, Reporting and on occasion.
Estimated Total Annual Hours Requested: 458,477.75.
Estimated Total Annual Cost: N/A.
Specifically, NCUA Staff identified the following articles as
containing ICRs with the following number of respondents and the
estimated annual burden in hours, as follows:
ICRs related to FCU Bylaws, specifically for newly chartered FCUs:
Respondents/record-keepers: 2 per year.
Estimated annual burden: 20 hours.
Total annual hours: 40 hours.
ICRs related to Bylaws for all FCUs:
Article II. Qualifications for Membership
ICR: Membership applications.
Respondents: 1,461,335 new members of FCUs.
Estimated Annual Burden: 15 minutes per application.
Total Annual Hours: 365,334.
ICR: Membership denial.
Respondents/record-keepers: 1055 [\1/4\ of all FCUs deny one member
per year].
Estimated Annual Burden: 15 minutes per denial.
Total Annual Hours: 263.75.
Article IV. Meetings of Members
ICR: Notices related to member meetings.
Respondents/record-keepers: All FCUs (4,220).
Estimated Annual Burden: 1 hour.
Total Annual Hours: 4,220.
Article V. Elections
ICR: Collecting and maintaining information for FCU elections.
Respondents/record-keepers: All FCUs (4,220).
Estimated Annual Burden: 8 hours.
Total Annual Hours: 33,760.
*Please note Article V, section 6, contains an ICR on the report of
officials.
This ICR is addressed in another NCUA PRA submission, 3133-0004.
Article VI. Board of Directors
ICR: Board meeting notices.
Respondents/record-keepers: All FCUs (4,220).
Estimated Annual Burden: 1 hour.
Total Annual Hours: 4,220.
Article XVI. General
ICR: FCU recordkeeping specified in sections 5 and 6. This
includes, for example, the time that it takes each FCU time to prepare
and maintain the minutes of its board meetings, annual meeting, and
committees meetings. NCUA's estimate also includes retention of the
FCU's certificate of incorporation, bylaws, and any records of bylaw
amendments, which occur infrequently.
Respondents/record-keepers: All FCUs (4,220).
Estimated Annual Burden: 12 hours (1 hour per month).
Total Annual Hours: 50,640.
By the National Credit Union Administration Board on August 29,
2013.
Gerard Poliquin,
Secretary of the Board.
[FR Doc. 2013-21495 Filed 9-4-13; 8:45 am]
BILLING CODE 7535-01-P