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Weigh In on NCUA Call Reports by August 15, 2016

The National Credit Union Administration (NCUA) is actively requesting credit unions to share thoughts and any reporting challenges regarding the NCUA Call Report and Profile. The NCUA adjusted the deadline from August 1 to August 15 to gain more feedback.

The Heartland Credit Union Association urges Kansas and Missouri credit unions to provide comments regarding NCUA’s comprehensive review of two vehicles used to collect information for regulatory oversight of federally insured credit unions (FICUs)—the 5300 Call Report (Call Report) and Form 4501A Profile (Profile).

The goal is to modernize content, help improve comparisons of institution/industry trends by other parties, and minimize the burden on FICUs.

Take action
Credit unions are encouraged to use PowerComment to submit a comment letter. Additional information is also available on the Federal Register website.
 
Key questions
Here are some key questions from NCUA regarding improving the Call Report and Profile. However, your comments do not need to be limited to just these questions. 
 
  1. What specific areas of the Call Report/Profile forms do you find challenging to complete? Please describe the nature of those challenges.
  2. What sections/schedules/items on the Call Report/Profile could be made optional for small or non-complex credit unions without complicating assessments of risk?
  3. What specific items would you like to see added to the Call Report/Profile to enhance analysis of local, regional and national performance trends or improve comparisons of individual credit unions with peer institutions?
  4. Are current Call Report account categories (database fields) reasonably aligned with your internal accounting? If not, what changes would improve the alignment?
  5. Are the Call Report and Profile instructions adequate? If not, what improvements (overall and peculiar to specific items/schedules) would improve clarity and reduce reporting burden?
  6. Could re-organization of the Call Report or Profile reduce reporting burden? If so, please describe the needed changes. Does the Call Report contain elements that should be moved to the Profile? If so, please detail these elements. Does the Profile contain elements that should be moved to the Call Report? If so, please detail these elements.
  7. Do you have any concerns or ideas about NCUA schedules/forms for collecting financial and non-financial information not addressed above?

If you have specific questions about this regulatory advocacy issue, please contact Amy McLard, 314.542.1370.