As a reminder, NCUA’s new online call report system goes live October 1, 2009. The Agency adopted a final rule that will provide a secure, web-based system to allow federally insured credit unions to submit financial reports, reports of officials, and other information online. The system replaces the current 5300 call report system for natural-person credit unions. In 2010 it will supplant the 5310 call report for corporate credit unions. The system is mandatory for credit unions with internet access effective October 1, 2009. NCUA estimates that approximately 435 credit unions without internet access will submit paper call reports in lieu of the online system initially. NCUA will enter that call report information into the online system for them. Under the new system all data may be submitted from any computer with internet access, so NCUA will no longer issue software to submit reporting data.
NCUA has held several informational webinars on this new system, and the next one is October 7, 2009.
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