ALEXANDRIA, Va. — The NCUA will compile 5300 Call Report datafor a membership profile and report additional data on thefinancial services they provide them, as a result of a policychange approved Thursday by the agency's board.
|Following nearly 90 minutes of discussion and questions of staffmembers, the board voted 2-1 to adopt the recommendations of itsOutreach Task Force.
|NCUA will collect membership profile data during its regularlyscheduled examinations of credit unions and collect data onfinancial services as part of the 5300 Call Report. NCUA wouldpublish the membership profile and financial services data on anaggregate basis in its annual report.
|Much of the data are already collected by those credit unionsbut NCUA would now be in a position to compile and analyze the dataand use it when making determinations about issues such as thecharter status of individual credit unions.
|NCUA Board Chairman JoAnn Johnson said there are “long-termbenefits that outweigh the anxiety raised” by some credit unionsand their trade associations about regulatory burden.
|She and NCUA Board Member Gigi Hyland voted for the policychanges and Board member Rodney Hood opposed them.
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