ALEXANDRIA, Va. – NCUA said this afternoon it gave away IBM laptop computers to 14 small credit unions in order to help them file quarterly financial reports with the credit union regulator, as part of its Small CU Initiative.
NCUA is providing IBM T500 laptops, and NCUA staff will perform follow-up with the credit unions, including necessary training. Beginning in October, the credit unions should be able to file their 5300 Call Reports electronically. The computers can be used to modernize other recordkeeping as well, such as putting member loan and share information into a digital format.
NCUA’s Office of Small CU Initiatives identified small credit unions that manually filed quarterly Call Reports and provided those that were interested with computers to enable them to perform electronic online report filing. The donated computers also help those credit unions—each of which has less than $10 million in assets—modernize their operations for greater speed and data accuracy.
Among the recipients are: Zion Hill Baptist Church FCU (Los Angeles); Gloucester (Mass.) municipal FCU; Great Neck (N.Y.) School Employees FCU; Monumental FCU (Chicago); McKeesport (Pennsylvania) Congregational FCU; Plainfield (N.J.) FCU; Prince FCU (Brooklyn, N.Y.) and St. Monica FCU (Gary, Ind.).
