CU*Answers, the West Michigan-based CUSO, created ExamShare in 2012 as a way of eliminating the element of surprise as much as possible when regulators appear at their credit union. ExamShare is a repository of exam experiences from credit union CEOs across the country to help others keep up to date on current regulatory hot topics and to ensure they are well prepared for their examiners’ visits.

How does it work? After a credit union’s examination is done the credit union CEO or designated individual logs into ExamShare and completes a brief questionnaire about their exam experience. A CU*Answers AuditLink representative then reviews the content to ensure no information that cannot legally be divulged is provided, and makes the answers available to all credit unions on the site. Additionally each month the AuditLink team uses the information to compile reports and post them on the ExamShare site so other credit unions can see the areas on which examiners are focusing.

Per a CU*Answers representative, “Credit union CEOs have been complaining for years about the difficulty in preparing for regulatory examiners visits. CEOs have long said that if they had a better idea of what to expect, it would allow them to focus upon being prepared better and score higher on their next assessment. We designed this site to provide credit unions with the means of safely sharing with each other and working together rather than on an island.” Currently there are over 30 exams shared on the ExamShare website and that number is growing every month.