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NCUA Preps for CU Online Upgrade

Register Now for Free May 15 Webinar on Changes to Data Reporting System

ALEXANDRIA, Va. (April 30, 2012) – Based on credit union feedback, the National Credit Union Administration (NCUA) will launch an upgraded version of the Credit Union Online (CU Online) system May 28. Credit unions can learn more about the changes coming to cuonline.ncua.gov during a free, interactive webinar May 15. Advance registration is required.
 
“The updated CU Online continues our efforts to provide convenient and efficient communication channels for credit unions,” said NCUA Examination and Insurance Director Larry Fazio. “We worked to incorporate the many valuable suggestions we received from credit unions to improve data integrity, enhance security, and make CU Online more user-friendly.”
 
Highlights of CU Online Upgrade
A web-based data collection system, CU Online captures and displays information from credit unions and state supervisory agencies. The system has two parts: the Credit Union Profile and the Online 5300 Call Report. NCUA launched CU Online Sept. 1, 2009, and the changes coming in late May are the first major upgrade to the system.
 

With assistance from professional software developers, NCUA has upgraded CU Online to improve the user experience. The refreshed website will enhance the readability of documents created by and printed from the system. Some other notable changes include: 

  • Instant warnings to prevent data-entry errors and omissions, and to identify inconsistencies with historical data;
  • Real-time calculations and edits without a need to save changes;
  • Help tips and instructions incorporated into each profile section; and
  • Expanded read-only access capabilities for credit union staff and board directors.

As part of the overhaul, credit unions using CU Online will need to download and install new software—Microsoft Silverlight. During the upgrade, NCUA will also eliminate paper notices each Call Report cycle to credit unions using CU Online. As part of the greeNCUA initiative, the switch to electronic notices from NCUA Express for CU Online will reduce NCUA’s paper and postage costs by more than $20,000 annually.

Register Now for CU Online Upgrade Webinar
To provide more detail about the coming CU Online upgrade, NCUA will host a free, interactive webinar Tuesday, May 15, 2012 at 2 p.m. EDT. The webinar will last approximately 90 minutes. Participants can register for the webinar here.

During the webinar, NCUA risk-management experts will brief and answer questions from credit unions and the general public about the pending CU Online changes. NCUA will archive and post the webinar at www.ncua.gov for future viewing at a later date.
 
“Those who use the CU Online reporting system each day are in the best position to identify improvements,” concluded Fazio. “We worked very hard to incorporate their ideas and are confident the changes will improve the CU Online experience. To make the system even better in the future, we welcome and hope to receive many more suggestions.”
 
Credit unions with questions about coming CU Online upgrade or the May 15 webinar can email CreditUnionOnline@ncua.gov.


NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the U.S. Government, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 97 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. At MyCreditUnion.gov and Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues..

--NCUA--

National Credit Union Administration

Office of Public & Congressional Affairs

703.518.6330
pacamail@ncua.gov

Contacts:

John Fairbanks
Office: 703.518.6336
jfairbanks@ncua.gov

Ben C. Hardaway
Office: 703.518.6333
Mobile: 703.298.5223 bhardaway@ncua.gov

Kenzie Snowden
Office: 703.518.6334
ksnowden@ncua.gov

"Protecting credit unions and the consumers who own them through effective regulation"