Removing Barriers Blog

NCUA Helps Credit Unions With Call Report Submission Deadlines
Posted May 26, 2016 by CUNA Advocacy

NCUA Chairman Rick Metsger’s first board meeting as Chairman was a breath of fresh air for credit unions looking for relief from the supervisory process.  Starting with the announcement of an overall exam modernization initiative in a speech to the Idaho Credit Union League, and continuing with an NCUA Board briefing on call report modernization, NCUA has given insight into what future relief from the supervisory process might look like.   

With the announcement Monday that the agency is moving the 2nd quarter call report deadline by one day, credit unions will see the first tangible piece of supervisory relief from Chairman Metsger’s term.  At the last Board meeting, NCUA said that credit unions would see modest relief in July, with the expectation that NCUA’s call report deadline would reach full parity with the federal banking regulators by the 1st quarter of 2017.   

We understand that credit unions would like to see call report modernization, an extended exam cycle and full parity on call report deadlines as soon as possible. However, we believe NCUA is moving to make these changes in a measured way to maximize stakeholder input, which will help the agency improve the entire supervisory process for years to come. This latest announcement that NCUA is removing the annual exam requirement and providing the additional day for submitting 2nd quarter call reports are good first steps, and show that NCUA staff are listening to the needs of credit unions.   

We will be meeting with NCUA staff today to discuss these important announcements and how we can best continue our work with the agency on these issues.  This meeting is part of CUNA’s regular dialogue with the agency on examination modernization and other issues that impact the operation of credit unions.  We will also soon be making recommendations for credit union participants in the NCUA's examination internal working group.  

Chairman Metsger is off to a quick start and we will continue to encourage him and the agency to push forward with a complete overhaul of the supervisory process.