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Donated Computers Allow for Online Filing; Improve Service, Efficiency

ALEXANDRIA, Va. (Sept. 14, 2012) – Fourteen small credit unions will be able to improve service and reduce their environmental footprints with new laptop computers provided by the National Credit Union Administration (NCUA).

“We’re constantly seeking opportunities to give small credit union managers the tools, training, support, and resources needed to improve efficiency and aid in the economic viability of their institutions,” said NCUA Board Chairman Debbie Matz. “These donations are part of NCUA’s efforts to eliminate paper Call Report filings in 2013. It’s a smarter, greener way to do business, and one that will enhance the calculation of the industry’s quarterly performance statistics.”

Earlier this year, NCUA’s Office of Small Credit Union Initiatives (OSCUI) 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.

OSCUI 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 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.

The computer donations to small credit unions are the latest accomplishment under Chairman Matz’s “greeNCUA” environmental initiative. The initiative is aimed at reducing paper use, lowering energy consumption, and increasing recycling.

OSCUI provides services to support small credit unions, including training, grants and loans, consulting services, partnerships, and resources.

A list of the credit unions receiving the computers is available here.

NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the U.S. Government, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 93 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions.

–NCUA–