NCUA Warns of Call Report Modifications

ALEXANDRIA, Va.-NCUA recently alerted credit unions to changes in the call reports for 2005 in Letter to Credit Unions 05-CU-02. “As part of the Accountability In Management (AIM) initiative for greater efficiency and in a continuing effort to make wise use of agency resources, NCUA initiated a call report modernization project in 2004. A comprehensive review of NCUA’s 5300 data collection and analysis processes revealed significant opportunities to increase efficiency and effectiveness by implementing innovative technological improvements,” the letter read. The changes are aimed at reducing costs, increasing the integrity of the information, expediting dissemination, and increasing agency risk analysis capabilities. “NCUA plans to conduct pilot testing of the new process later this year. The feedback from pilot credit union participants will help shape the new process and guide NCUA in meeting the needs of insured credit unions,” the letter continued. The agency expects to implement the improvements in late 2005. Additionally, NCUA will no longer issue call report programs on Windows 95 operating systems. Windows 98, NT, ME, 2000, or WP will be required. The credit union’s computer must be equipped with a CD-ROM drive, Microsoft Internet Explorer 5.0 or higher, and two megabytes of free hard drive space.