The download process allows examiners to spend more of their allotted examination time talking with credit union officials and less in the back room inputting data into their computers. These changes will benefit the entire credit union industry through better use of oversight resources. Examiners have always had access to member data for examination purposes. Examiners will not go directly to a data processing vendor to obtain electronic data without the knowledge and authorization of the credit union. Examiners will never enter a credit union computer system and extract data for examination use without the knowledge and permission of the credit union.
Transformation renders the data useless outside of the examination environment.
This is a one-way process that cannot be reversed. The downloaded share and loan data files are completely destroyed, and unrecoverable, at the end of the examination. No sensitive member data is uploaded to any host computer system at any time. Currently, examiners retain certain information on selected share and loan records to document the examination findings and perform comparative analysis to past year examination results. However, less overall data and no sensitive member data will be kept.