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NCUA Seeking Stakeholder Input on Modernizing Its Data Collections
Wednesday, June 8, 2016 6:40 AM

Stakeholders throughout the credit union system may provide input on ways the National Credit Union Administration can modernize and improve its Call Reports, with the publication of a request for information in the Federal Register on Tuesday.

“To do our job properly, NCUA needs to regularly capture credit union material-risk exposures through our Call Reports,” NCUA Board Chairman Rick Metsger said. “At the same time, we need to identify areas where we can reduce or eliminate unnecessary reporting burdens, especially for smaller and non-complex credit unions. This request for information is a critical first step in making our data collection systems better and more efficient.”

At its May open board meeting, NCUA announced that it would conduct a comprehensive review and modernization of content in the Call Report and Credit Union Profile. NCUA will gather information through a public comment-and-review process and will create an internal working group that will consult with stakeholders. The process could also include online surveys, focus groups, workshops and other activities.

In its request for information, available online here, NCUA is seeking stakeholder input in specific areas, including:

  • Specific areas of the Call Report and Credit Union Profile that users find challenging;
  • Sections or items that could be made optional for small or non-complex credit unions without compromising the agency’s ability to assess risk in these institutions;
  • Items that could be added to the reports to enhance the agency’s analysis of the system’s performance trends;
  • Areas of regulatory reporting that align with a credit union’s internal accounting and the areas that do not;
  • How the Call Report and Credit Union Profile could be reorganized to reduce credit unions’ reporting burden; and
  • Additional suggestions or ideas credit unions might have for collecting financial and non-financial information.

Stakeholder comments must be received by 5 p.m. ET on Monday, Aug. 1. For additional information or to submit a comment, go to go.usa.gov/cSuuT.