The NCUA has proposed revisions to the instructions for its quarterly Call Report (Form 5300), aiming to improve clarity and accuracy in data reporting from federally insured credit unions. The agency formally submitted its request to the Office of Management and Budget and published the notice for public comment, as required under the Paperwork Reduction Act.
While the Call Report form itself remains unchanged, the revised instructions are expected to take effect with the Sept. 30, 2025 reporting cycle.
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“These changes are intended to support more accurate and consistent reporting,” the agency noted in its filing, adding that the revisions would not materially impact the reporting burden for credit unions.
The NCUA received three comment letters during an earlier review period. One commenter recommended collecting more data on reciprocal deposits, which the agency said it may consider in future updates. Another urged the NCUA to simplify the instructions using plain language or flowcharts, a suggestion the agency said it would consider when finalizing the new guidance. A third commenter requested better notification of changes during the approval process and raised no objections to the proposed revisions.
Comments on the proposal are due 30 days after its July 18 publication in the Federal Register.
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
