Corporate Credit Unions

Forms and Documents

Document Name	Status
0129 Justification, 12-2006.doc Supporting Statement A	2006-12-11

IC Document Collections

IC ID	Document Title	Status
32750	Corporate Credit Unions	Modified

ICR Details

OMB Control No: 3133-0129	ICR Reference No: 200611-3133-001
Status: Historical Active	Previous ICR Reference No: 200301-3133-003
Agency/Subagency: NCUA	Agency Tracking No:
Title: Corporate Credit Unions
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: 02/05/2007
	Date Received in OIRA: 12/12/2006
Terms of Clearance: Note that this is the second time that the authorization for this collection has been allowed to expire, necessitating later reinstatement. Do avoid a recurrence. Also note that the change in burden is due to adjusting the agency estimate, not program actions by the agency. I have edited. Moreover, for the line of business, consider "Economic development" and "financial sector oversight."

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2010	36 Months From Approved
Responses	31	0	0
Time Burden (Hours)	75,454	0	0
Cost Burden (Dollars)	1,937,996	0	0

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Abstract: Part 704 of NCUS's Rules and Regulations direct corporate credit unions to maintain records concerning their activities.

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Authorizing Statute(s): US Code: 12 USC 1762, 1766(a), 1781, & 1789 Name of Law: Federal Credit Union Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	71 FR 53714	09/12/2006
30-day Notice:	Federal Register Citation:	Citation Date:
	71 FR 62020	10/20/2006
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Corporate Credit Unions

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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	31	0	0	0	-3	34
Annual Time Burden (Hours)	75,454	0	0	0	5,312	70,142
Annual Cost Burden (Dollars)	1,937,996	0	0	0	-310,004	2,248,000

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: There are no program changes from the submission three years ago. The estimated hour burden is higher and the estimated cost burden is lower than were projected in the previous submission. Previous estimated hour burden: 70,142, current estimated hour burden: 75,454. The overall increase in hour burden is due to the decline in the number of corporate credit unions, increase in number of corporate credit unions that applied and were approved for expanded authority (7 versus 5), and a decline in the number of corporate credit unions with assets in excess of $400 million. Those corporates that merged did not have the expanded authorities associated with the higher hour burden. Therefore, the number of hours is divided among a smaller group of corporate credit unions. Previous estimated cost burden: $2,248,000, current estimated cost burden: $1,937,996. The actual cost burden per corporate declined ($62,516 versus $66,118), and the total cost burden declined as that cost burden per corporate was applied to a smaller pool of corporate credit unions (31 versus 34).

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Annual Cost to Federal Government: $0

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]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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: 12/12/2006

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