Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.

View ICR - OIRA Conclusion

OMB Control No: 3133-0129	ICR Reference No: 201102-3133-001
Status: Historical Active	Previous ICR Reference No: 201011-3133-001
Agency/Subagency: NCUA	Agency Tracking No:
Title: Corporate Credit Unions
Type of Information Collection: Revision of a currently approved collection	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 05/04/2011
Retrieve Notice of Action (NOA)	Date Received in OIRA: 02/15/2011
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2014	36 Months From Approved	11/30/2013
Responses	590	0	154
Time Burden (Hours)	5,682	0	3,887
Cost Burden (Dollars)	194,350	0	194,350

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Agency Discretion
Annual Number of Responses	590	154	436
Annual Time Burden (Hours)	5,682	3,887	1,795
Annual Cost Burden (Dollars)	194,350	194,350	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: NCUA is proposing to amend its corporate credit union rule, codified at 12 CFR Part 704 (Corporate Rule), in several respects. Several proposals impose new information collection requirements on corporates in addition to those currently approved under OMB Control No. 3133-0129. These proposals: require corporates to conduct all board of director votes as recorded votes and record the votes in the minutes; establish procedures for the equitable distribution of Temporary Corporate Credit Union Stabilization Fund expenses among all members of corporates, and require a corporate to hold an expulsion vote for certain members who do not contribute to the expense sharing; require disclosure to corporates of compensation paid by corporate credit union service organizations (CUSOs) to certain employees who are dual employees of corporates and CUSOs; and establish new internal control reporting requirements. The collection of information is necessary to ensure that corporates operate in a safe and sound manner and to strengthen individual corporates and the corporate system as a whole.