Fourteen federally insured credit unions will cough up fines for filing late Call Reports for Q2 2015, the NCUA announced Wednesday.
The late filers will pay a total of $3,491 in penalties. Individual penalties range from $100 to $576, and the median penalty is $185, the agency said. The Federal Credit Union Act requires the NCUA to send any funds received through civil monetary penalties such as these to the U.S. Treasury.
"(The) NCUA still needs full compliance with timely Call Report filing," NCUA Board Chairman Debbie Matz said. "The goal is in sight. I encourage credit unions having difficulties meeting the quarterly deadline to take advantage of the assistance NCUA offers."
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Natasha Chilingerian
Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.
