Back in my examiner days I was always asked what that one big thing NCUA added to the exam review for that year. Back then the agency did not have an exam Priority Letter to #creditunions like today.
In the chart above - I list all Priorities since 2017... you can see MUCH repetition...however there are subtle nuances in the text of the recent Letters.
My takeaway: Look at what is listed first (and what it says) and this year it is the Allowance for Loan Losses. In my opinion the key text is:
"An appropriate allowance methodology will consider all relevant and available information when assessing the collectability of the loan. This includes changes to a borrower’s financial condition, collateral values, and economic conditions because of the pandemic."
Meanwhile if you would like to discuss this or how I can help You have a successful examination experience, message me here or send me an email: firstname.lastname@example.org
Here is a link to the full letter to credit unions: