REGULATORY COMPLEXITY SURVEY

Thank you for taking the time to participate in CCUA's survey on the cost of compliance and regulation. The objective of this survey is to gather data that will allow us to develop clear metrics that reflect how compliance requirements affect credit unions of all sizes over time.

CONFIDENTIALITY AND DATA USE STATEMENT:

Please note that all data provided will be treated as strictly confidential and will be used solely for the purposes of this analysis. The information will be aggregated to ensure that no individual respondent, client, or firm is identifiable in any published results or shared insights.

The survey is divided into three sections. Sections I, II and III contain key information necessary to construct the metrics and are the primary focus of this analysis. Please respond to the questions as fully as possible, based on the information available to you.

Read instructions below to provide your input in the table.

"Direct regulatory compliance costs" encompass all direct expenses incurred by a firm to fulfill its regulatory obligations as a credit union. These include staff salaries for regulatory compliance related tasks, costs of regulatory reporting, in-house legal, compliance, and risk, training programs, and costs arising from regulatory examinations and or remediation efforts (excluding settlement and penalty amounts). This definition applies to roles related to regulatory compliance responsibilities (e.g., business unit internal controls and processes).

• During the past fiscal year, what percentage of your employees fell into each of the categories based on their involvement in regulatory-related tasks? (Total should sum to 100%)
• For each category, what was the approximate average annual salary?

High Involvement (75–100%): The majority of the role is dedicated to regulatory compliance. The employee spends most of their time ensuring that policies, processes, and activities align with applicable laws and regulations.
Medium Involvement (25–74%): Regulatory compliance is a significant but not dominant part of the role. The employee regularly contributes to compliance activities but also has other core responsibilities.
Low Involvement (1–24%): Compliance-related duties are minimal and occasional. The employee supports compliance efforts but is not primarily responsible for them.
No Involvement (0%): The role does not involve any regulatory compliance responsibilities

For example, determining the percentage of regulatory compliance can be assessed using the job description and the ratio of tasks related to compliance over total tasks.

The table below refers to your most recently completed fiscal year. Please provide responses based on the distribution and compensation of your employees across the four regulatory involvement categories described in the table. If specific data is not available, please respond with “N/A.”

We understand this is a challenging request and that some assumptions will be necessary. Our main goal is to understand how compliance costs have evolved over time, provided the assumptions remain consistent.

As mentioned above, "Direct regulatory compliance costs" encompass all direct expenses incurred by a firm to fulfill its regulatory obligations as a credit union. These include staff salaries for regulatory compliance related tasks, costs of regulatory reporting, in-house legal, compliance, and risk, training programs, and costs arising from regulatory examinations and or remediation efforts (excluding settlement and penalty amounts). This definition applies to roles related to regulatory compliance responsibilities (e.g., business unit internal controls and processes).