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External Affairs
email: pacamail@ncua.gov
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NCUA Enhances and Streamlines Data Collection

Credit Union Call Reports Go Online This Fall

Alexandria, Va., August 18, 2005 -- The National Credit Union Administration announces significant changes to enhance and streamline its 5300 Call Report data collection process beginning with the September 30, 2005 reporting cycle.

“Using electronic technology, these improvements will enhance data integrity, expedite information input and report dissemination, increase NCUA's risk analysis capabilities and cut costs,” Chairman JoAnn Johnson said. “In offering this new data collection program, NCUA is providing the credit union community with a more effective and efficient means to report data as well as offering new tools to access and work with this data.”

The key changes being implemented with the September 30, 2005, Call Report data collection cycle include:

• Electronic validation compares data reported in the current cycle to historical data, identifies unusual or unlikely conditions, and generates a Historical Warnings Report (HWR);
• Added comment boxes allow credit unions to provide an explanation when
  warning notices question data entries;
• Electronic submission enables credit unions to transmit call reports directly to NCUA and receive the HWR and Financial Performance Report (FPR) via email within 24 hours; and
• The significantly revised FPR offers a more comprehensive, flexible tool both credit unions and examiners can use to check data integrity and analyze risk.

For additional details, please see Letter to Federally Insured Credit Unions 05-CU-10 online at http://www.ncua.gov/letters/letters.html.

Credit union workshops

NCUA’s Office of Small Credit Union Initiatives is conducting workshops throughout the U.S. in the next few months that include an agenda item offering a summary of 5300 Call Report process improvements. The workshops are free and open to all credit unions regardless of asset size.

Workshop registration forms are posted on the NCUA website at http://www.ncua.gov/CreditUnionDevelopment/Index.htm.

The NCUA is the independent federal agency that charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, operates the National Credit Union Share Insurance Fund (NCUSIF), insuring the savings of over 84 million account holders in all federal credit unions and many state-chartered credit unions.