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News Now

Washington
Comment call on CU reporting system
WASHINGTON (4/7/09)--The Credit Union National Association (CUNA) is seeking comments from credit unions regarding the National Credit Union Administration’s (NCUA) proposed rule to require federal credit unions to submit reports and other information through a new, web-based system expected to be in place this year. Currently, federal credit unions can submit their reports by sending them electronically using NCUA software, e-mailing them, saving them to a CD and then sending to NCUA, or sending them as hard copies. The new process aims to make reporting more efficient and provide a single portal for credit unions to submit, edit and view the data NCUA collects. It is expected to be implemented during the third quarter for natural person credit unions, and next year for corporate credit unions. Comments are due to CUNA May 15. For more information, use the link.


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