View Information Collection Request (ICR) Package
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View Information Collection (IC) List
View Supporting Statement and Other Documents
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:
3133-0040
ICR Reference No:
201310-3133-007
Status:
Historical Active
Previous ICR Reference No:
200405-3133-001
Agency/Subagency:
NCUA
Agency Tracking No:
Title:
Federal Credit Union Ownership of Fixed Assets (12 C.F.R. 701.36)
Type of Information Collection:
Reinstatement with change of a previously approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
12/13/2013
Retrieve Notice of Action (NOA)
Date Received in OIRA:
10/27/2013
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
12/31/2016
36 Months From Approved
Responses
193
0
0
Time Burden (Hours)
2,830
0
0
Cost Burden (Dollars)
82,214
0
0
Abstract:
12 CFR 701.36 requires that a federal credit union with $1 million or more in assets obtain the approval of the Administration before investing in fixed assets in excess of 5% of shares and retained earnings. This section also requires that a federal credit union prepare a definitive plan for full use of premises acquired for future expansion if it has not fully occupied the premises within one year of acquisition, and that a federal credit union that has not at least partially occupied such premises within three years, six years for unimproved real property, obtain Administration approval to continue without partial occupation. This section also requires that a federal credit union that does not dispose of abandoned property within 5 years of abandonment obtain Administration approval to continue to hold the property. Federal credit unions must also obtain Administration approval prior to investing in property from a prohibited party.
Authorizing Statute(s):
US Code:
12 USC 1751
Name of Law: FCU Act
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
78 FR 45571
07/29/2013
30-day Notice:
Federal Register Citation:
Citation Date:
78 FR 54683
09/05/2013
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
5
IC Title
Form No.
Form Name
Plan For Full Occupation Of Premises
Waiver Of Prohibited Transaction
Waiver Of Requirement For Partial Occupation
Waiver Of Requirement To Dispose Of Abandoned Property
Waiver of Five Percent Limitation
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
193
0
0
168
0
25
Annual Time Burden (Hours)
2,830
0
0
2,505
0
325
Annual Cost Burden (Dollars)
82,214
0
0
82,214
0
0
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Miscellaneous Actions
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
a. Waiver of five percent limitation. There is no significant change, other than the fact that more credit unions are affected since 2010 when the Flexibility Program, and its associated exemption from the five percent limitation, was rescinded. b. Plan for full occupation of premises. There is no significant change. Updated information at renewal revealed an increase in respondents as recorde c. Waiver of requirement for partial occupation. There is no significant change. Updated information at renewal revealed an increase in respondents as recorded d. Waiver of requirement to dispose of abandoned property. This part of the collection was not previously identified. e. Waiver of prohibited transaction. This part of the collection was not previously identified.
Annual Cost to Federal Government:
$78,358
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
No
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
No
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Lindsey Coates 703 518-6386
Common Form ICR:
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date:
10/27/2013
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