Overview of Credit Union Online
Credit Union Online is a web-based program used by credit unions and state supervisory agencies to capture and display credit union information. It is comprised of two parts: the Credit Union Profile and the Online 5300 Call Report. This online system replaced the software-based 5300 data collection program as of September 1, 2009.
Credit Union Profile
The Credit Union Profile is a collection of information NCUA maintains about credit unions that is only occasionally amended. It includes all information that was originally collected on the Report of Officials as well as some information collected on the 5300 Call Report that infrequently changes such as Disaster Recovery Information, Emergency Contact Information, and Information Systems and Technology. With every cycle of the 5300 Call Report, credit unions must review and certify their credit union profile.
The profile uses the NCUA Profile Form 4501A.
Online 5300 Call Report
The Online 5300 Call Report system is used to collect the quarterly financial information of credit unions. It includes online instructions as well as prior call reports that credit unions will have the ability to correct if need be. Edits are received in real-time during the completion of the Call Report. Credit unions will also be able to start a Call Report, save their information and return later to complete it. However, the Call Report cannot be submitted until all errors are corrected.
Credit unions who have access to the Internet and are able to use the online system will be categorized as "Online Filing" credit unions. Online Filing credit unions will enter, update, and submit their profile and 5300 Call Report information in the online system.
Credit unions who are unable to use the system will be categorized as "Manual Filing" credit unions and will complete the paper forms and return them to their regulator for input in the online system.
We listened to users and incorporated many ideas and changes to improve usability and convenience as part of a major refresh of our key reporting system. We improved the user interface, enhanced functionality, and improved warnings, edits and other quality control tools for all users.
We also moved to a new software platform to improve overall stability and functionality. Microsoft Silverlight, a free program, must be downloaded and installed on all computers accessing Credit Union Online. You will need to install this free software on the system you use to access the CU Online system starting May 28th. You can download Silverlight at http://www.microsoft.com/silverlight/. The new software provides an improved look and feel to the CU Online system.
Most notable of the changes include:
- Improved user interface – We freshened the look and feel with the help of professional web developers focusing on improving the user interface and convenience. We eliminated the left navigation bar to minimize scrolling and created more prominent action buttons.
- Enhanced Printing Options – We enhanced the “printer friendliness” of reports. You can now print all Call Report cycles and profile data as an Adobe PDF file.
- Profile Snapshot – We captured the profile data as of the cycle date in an Adobe PDF format for convenient printing. This provides users with a historical record of the profile.
- Warnings in the Profile to help prevent errors and improve efficiency – We enhanced the warnings to remind you to enter new information or update existing information, such as outdated audit information.
- Real Time Call Report Calculations and Edits - Calculations and edits now update during data entry. You no longer need to click “Save” to refresh.
- Call Report Historical Warnings – Warnings that compare data between several Call Report cycles update and are available during data entry. This feature will help you to catch any inconsistencies or possible errors earlier. We also added the capability to export errors and warnings to Microsoft Excel or Adobe PDF.
- Help Tips and Instructions – We included data entry help tips in each section of the profile. Call Report Forms and Instructions are also very easy to access for each cycle within the online system.
- New User Role – We listened to many credit unions and added a new user role. You can assign employees or Directors a view-only role that provides access to CU Online information without the ability to edit.
- Less Paper, More Savings – Credit unions filing online will no longer receive a letter each Call Report cycle. NCUA will use NCUA Express to disseminate Call Report information and reminders reducing costs by more than $20,000 per year.
NCUA hosted a webcast for credit unions on Tuesday, May 15, 2012 outlining these and other changes to the online application. For those who could not participate or would like to view the presentation again, NCUA archived the webcast. Click here to view the archived webcast.
March 2013 Call Report Changes Postponed
NCUA postponed implementing the March 2013 5300 Call Report and Profile changes until June 2013. (Refer to Letters to Federally Insured Credit Unions – Changes Planned for Upcoming Call Reports (12-CU-12))