NCUA Rolls Out New Performance Report
ALEXANDRIA, Va.-NCUA unveiled its new, more helpful and efficient Financial Performance Report. Credit unions can use the FPR, a computer-generated, analytical tool, to identify trends, analyze performance, and set goals. NCUA creates a new FPR for every federally insured credit union quarterly. However, beginning with the Sept. 30 cycle, credit unions filing their 5300 Call Report through eSend should receive their five-page FPR within 24 hours but typically as quickly as one hour. With the new FPR request process, federally insured credit unions can request reports for single charters and aggregate groups for the past four cycles for trend data. The information is updated as corrections are made rather than just with quarterly updates. Also, FPRs are available earlier in the cycle, rather than the previous six-to eight-week waiting period. The new FPR report is in Excel so it is easy to use. NCUA completed a comprehensive review of the FPR and made improvements for "a more timely, comprehensive and flexible tool," according to NCUA's Web site (www.ncua.gov).