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5300 Call Report Modifications effective June 2006

06-CU-03 / March 2006
5300 Call Report Modifications effective June 2006
Federally Insured Credit Unions
Call Report
Federally Insured Credit Unions
5300 Call Report Modifications effective June 2006

Dear Board of Directors:

This letter is to inform you of changes to the 5300 Call Report, which will be in effect for all reporting cycles beginning with the June 30, 2006 cycle. The NCUA Board approved revisions to subsection 741.6(a) of NCUA Rules and Regulations to require all federally insured credit unions to file the same quarterly report. Thus, all federally insured credit unions will file Form NCUA 5300 quarterly and the alternative Form NCUA 5300SF for credit unions with less than ten million dollars in assets is eliminated.

With this change, Form NCUA 5300 was revised for the June 30, 2006 call report cycle to consolidate information and reduce ancillary schedules. The report was reduced from nineteen to sixteen pages and reorganized so only the first ten pages require input from all credit unions. As well, the number of ancillary schedules was reduced from seven to three. Finally, the instructions for completing the form will be published separately to allow for more detailed guidance and examples for how to properly complete the form.

The new form and instructions are enclosed with this letter. The template contains detailed information about the changes to the pages, schedules and account codes. Specifically, the pages and schedules were modified as follows:

  • The Classification of Investments, Cash on Deposit and Cash Equivalents section of Schedule C – Investments, Cash on Deposit and Cash Equivalents was moved to the Balance Sheet. The remaining portions of Schedule C will become Schedule B – Investments, Supplemental Information. Only those credit unions with SFAS 115 investments will have to complete Schedule B.
  • The Distribution of Borrowings section of Schedule E – Borrowings was moved to the Balance Sheet. The remainder of Schedule E was combined with Schedule G - Off-Balance Sheet Commitments and Contingent Assets and Liabilities to create a required page, Liquidity Commitments and Sources.
  • The Distribution of Savings and Dividend Rate sections of Schedule F – Savings was consolidated into the Balance Sheet thereby eliminating Schedule F.
  • The New Programs and Services section of the Miscellaneous Page was changed to Programs and Service Offerings. The credit union will be asked to check all programs and service offerings in existence as of the call report date rather than check if the program or service is new. Certain programs or service offerings trigger the need to complete certain schedules as identified in the Programs and Service Offerings section.
  • All delinquent loan and charge off information from the Loan Information page, Schedule A – Real Estate Loans/Lines of Credit, and Schedule B – Business Loans was consolidated on a new Delinquent Loans and Loan Charge Offs and Recoveries page. New vehicle loans, used vehicle loans, all other unsecured loans/lines of credit, and all other loans/lines of credit are summarized under one loan delinquency title of “All Other Consumer Loans”. Also, data will be collected on delinquent indirect loans, participation loans, and agricultural loans. The remaining portions of the loan information page and Schedules A and B were combined to create Schedule A - Specialized Lending.

The reorganization of the 5300 Call Report and the elimination of the 5300SF will improve the agency’s efficiency, increase the accuracy of the information collected, and simplify the reporting process for all credit unions. As these changes affect several areas of the Call Report, I kindly request you carefully read the instructions before completing the Form 5300 for the June 30, 2006 reporting cycle. Thank you for your attention to these modifications.



JoAnn Johnson



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