The NCUA has an updated proposal for new reporting requirements on the maturity distribution of total uninsured shares and deposits to call reports. America’s Credit Unions shared concerns with the additional expenditure of staff and financial resources this move would require in a letter to the NCUA. Even with the updates, America’s Credit Unions outlines how this reporting will present a significant challenge for credit unions.

“[W]e are concerned that if the NCUA proceeds with this proposed account, the challenges credit unions will inevitably face in determining this information could lead to inaccurate data being reported to the agency. Therefore, we reiterate our call for the NCUA to refrain from implementing the proposed requirement to report the total amount of uninsured shares and deposits by remaining maturity,” America’s Credit Unions Regulatory Advocacy Senior Counsel Luke Martone explained.

America’s Credit Unions submitted an earlier letter in November 2024 to the NCUA regarding its initial proposed changes to the call report, detailing potential issues with two proposed new accounts:

• Loans granted to credit union officials and senior executive staff year-to-date; and
• Reporting the maturity distribution of total uninsured shares and deposits.

While the NCUA revised the proposed changes to the call report, it only dropped the first proposed account regarding loans to officials and executive staff. The amended proposal still includes the addition of requiring credit unions to report the total amount of uninsured shares and deposits by remaining maturity. 

Read the full letter here.