WASHINGTON (2/4/09)--Credit unions will be required to supply more information on delinquencies, foreclosures, and repossessions on the quarterly form 5300 “call report”-- which is no surprise given the current market pressures. In addition, the National Credit Union Administration (NCUA) has added a new page on “miscellaneous information” to collect more information on the services offered by credit unions, which implements one of the agency’s “Outreach Task Force” recommendations approved in May 2008. The quarterly call report is due by April 20. On page 9, the agency requires credit unions to now check whether they offer such services as:
* Transaction programs such as international remittances, low-cost wire transfers, or money orders; * Depository programs such as health savings accounts, individual development accounts, or no-cost share drafts; * Financial education programs such as financial counseling, literacy workshops, homebuyer programs, or in-school branches; * Credit programs such as credit builder plans, micro-business and micro-consumer programs, and payday lending-type programs; and * Member services such as bilingual services, no-cost bill payer, no-cost tax preparation services, and student scholarships.
Starting last month, NCUA examiners also are collecting certain membership data at the end of regular examinations of federal credit unions through AIRES, the agency’s automated examination system, to develop membership profile information. The collection was approved last May to implement NCUA Outreach Task Force recommendations. The March 2009 call report also calls for more detail on the delinquency rates of different types of real estate and construction loans, as well as charge-offs and recoveries. The agency is also requesting more information on loan participations by type, and the credit union’s credit and borrowing arrangements. For more information, use the link.