Compliance Blog

Last week, NCUA announced that is is changing its Call Report to deal with its Corporate Stabilization Plan.  Read the announcement here.  Here's a snippet of the press release:

March 5, 2009, Alexandria, Va. – The National Credit Union Administration (NCUA) today announced changes to the March 31, 2009, Call Report designed to better enable credit unions to provide a more accurate picture of expenses related to the recent NCUA Corporate Stabilization Program. 

The new version of the 5300 Call Report features the separate presentation of the expense resulting from the recent NCUA corporate stabilization actions. The changes will show the expense related to the stabilization action as a separate line item on the Income Statement within the Call Report.  It will also show net income before and after the expense item.  The two new accounts added are NCUSIF Stabilization Expense, Account 311 and Net Income (Loss) before NCUSIF Stabilization Expense, Account 660A.  This will allow Call Report users to quickly ascertain the impact of the stabilization expense on the operating position of each credit union.

Here are some related resources:

• Go here for general information concerning the 5300 Call Report.
• Go here for NCUA's corporate stabilization web page.
• Go here for other blog postings on NCUA's corporate stabilization plan.

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On Saturday, I officially became the owner of a minivan.  I think there are certain events in a person's life that mark a dividing line.  There is the time before this event.  And the time after it.

Buying a minivan may just be one of those events.

(By the way, I'm learning that people are either minivan people, or they are not.  There are few in-between.)