June 16, 2014

NCUA plans to allow corporates to report online

June 17, 2014 – NCUA is publishing a 30-day request for comments on a change in its information collection software so corporate credit unions can submit their reports of condition to NCUA via CU Online.

CU Online is used for collecting financial reports from all natural person credit unions. The 15 corporate credit unions submit call reports to NCUA on a monthly basis. NCUA is also proposing to have corporates submit their reports of officials online as well. Both changes are out for a 30-day comment period.

A third information collection request pertains to liquidations. NCUA is seeking comments on a new proof of claim form and instructions for creditors to use when presenting claims to NCUA regarding a credit union in liquidation. Comments are due in 60-days.