NCUA has proposed a number of dramatic changes to the Call Reports. LSCU would like your input in responding to a recent Request for Information. LSCU will give a $50 Visa gift card to the person who submits the most comprehensive response to these questions. The NCUA has asked the following questions:
- Are there account codes that are proposed to be retired that are still pertinent? If so, please provide the account code(s) and the reason for maintaining it.
- Are there additional account codes that should be retired or consolidated? If so, please provide the account code(s) and the reason for retiring it.
- Are relocated account codes grouped logically? If not, please propose a location you feel is more logically suited.
- Should any of the schedules be expanded to assist in analysis based on new rules or accounting changes? If so, please provide details of data the NCUA should also collect.
- Are the instructions adequate in both content and design? If not, please cite specific sections that require improvement or correction.
- How much lead time do credit unions need to work with vendors to make changes to their systems in order to support such changes to the Call Report?
- Are there any other operational issues the NCUA should be aware of prior to implementing the proposed changes?
- From your perspective, do you think this is a reduction in your reporting burden? Please explain.
To assist you in responding to these questions, NCUA has a page devoted to these changes that can accessed here. Please send your responses or any questions on this issue to Mike Lee no later that March 23.