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CU Compliance Connection

CU Compliance Connection. NCUA Report Filing. Reporting Cost Savings. Credit union electronic filing will: Reduce the expenses of printing and mailing paper forms; Reduce NCUA operating costs; Reduce staff processing time Promote environmentally responsible practices; and

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CU Compliance Connection

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  1. CU Compliance Connection NCUA Report Filing

  2. Reporting Cost Savings • Credit union electronic filing will: • Reduce the expenses of printing and mailing paper forms; • Reduce NCUA operating costs; • Reduce staff processing time • Promote environmentally responsible practices; and • Reduce data entry errors.

  3. NCUA Electronic Filing • Credit union must electronically file: • Financial, • Statistical, • CALL reports, • Reports of officials credit union profiles, and • Other reports.

  4. NCUA Electronic Filing The electronic filing due dates for 2014 are as follows:

  5. NCUA Electronic Filing • The president or managing official of each federally insured credit union must certify compliance with the new requirements in its Credit Union Profile annually through NCUA’s online information management system.

  6. NCUA Additional Resources The NCUA has provided credit unions with the following resources: • General System Frequently Asked Questions (FAQs); • An Instruction Guide; • Online Profile FAQs; • 5300 Call Report FAQs; and • CU Online webcast. • http://www.ncua.gov/DataApps/CUOnline/Pages/default.aspx

  7. NCUA Additional Resources The NCUA OSCUI provides assistance through: • A guidance document that walks filers through an online 5300 Call Report; • One-on-one telephone support; and • Urgent Needs Grant funding up to $7,500 for low-income designated credit unions without computers.

  8. Thank you for joining me for this review of the NCUA Reporting Requirements Stay Tuned… Shawn Wolbert, CIA, CUCE Director CU System Relations 101 S. Washington Square, Suite 900 Lansing, MI 48933-1703 (800) 262-6285 Ext. 486 (734) 658-5427 Mobile Follow me on Twitter – Shawn Wolbert @ Go2CUGuru

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