The NCUA is making major changes to the information that credit unions report on the quarterly 5300 Call Report effective with the March 2022 cycle. The NCUA first hinted of significant changes back in late 2018 as part of their modernization efforts and overall simplification theme. Although the financial statement reporting on the first five pages is mostly the same, there are numerous changes to supplemental reporting for delinquent loans, investments, off balance sheet exposures and contingent liabilities to name a few sections. New reporting is required for Risk-Based Capital Ratio (RBC) and Complex Credit Union Leverage ratio (CCULR) due to regulatory requirements that became effective on January 1, 2022. For detail on the NCUA changes go to ncua.gov.

The internal teams at CU*Answers are actively analyzing and preparing for these changes. Karen Sorensen, 5300 Call Report Project Coordinator states, “we are assessing how these changes will impact our credit unions and what core processing system updates will help reduce their reporting burden.”