Request for Information: Enhancing and Streamlining Data Collection from Credit Unions

Eastern Corporate Federal Credit Union (EasCorp) supports the NCUA's initiative to enhance and streamline data collection but urges a risk-focused approach to reduce redundant reporting burdens. They specifically advocate for consolidating duplicative data points, simplifying derivative reporting, and providing phased-in compliance timelines for any new changes.

GoWest Credit Union Association, a regional trade association, supports the NCUA's initiative to streamline data collection but urges the agency to prioritize "safety and soundness" as the primary standard for data requirements. They advocate for minimizing form revisions, providing longer lead times for changes, and removing specific reporting requirements that do not contribute to supervisory goals, particularly for smaller credit unions.

GECU Federal Credit Union supports the NCUA's effort to streamline and enhance data collection, provided the focus remains on reducing manual reporting burdens and improving system functionality. The organization argues for clearer instructions, better automation, and a risk-based approach that tailors reporting requirements to the size and complexity of the credit union.

A credit union employee argues that the current Call Report is overly complex and redundant, particularly regarding loan classifications and thresholds. They advocate for streamlining the data collection process to reduce the administrative burden on staff while maintaining the ability to assess the institution's stability.

The Minnesota Credit Union Network (MnCUN), representing 81 credit unions, supports the NCUA's goal of streamlining and modernizing the Call Report process to reduce administrative burdens. They urge the NCUA to establish a formal, enterprise-grade data governance framework that includes a tiered reporting system, a centralized data dictionary, and standardized machine-readable schemas.

The Endangered Small Credit Union Defense (ESCUD), a nonprofit representing small credit unions, supports the NCUA's efforts to streamline data collection. They specifically advocate for eliminating certain reporting requirements—such as loan delinquency data under 60 days and specific share certificate breakouts—that impose a disproportionate manual burden on small institutions.

TruStone Financial Credit Union supports the NCUA's efforts to improve regulatory reporting and provides specific recommendations to streamline data collection and clarify instructions. They argue that certain reporting requirements are cumbersome, suggest adding specific data breakouts for better analysis, and request that the NCUA update its burden estimates to more accurately reflect the time required for reporting.