Six small CUs agree to pay small fines for failing to file call reports on time

Six credit unions will pay a total of $2,259 in civil money penalties (CMPs) for filing late call reports at mid-year, the federal credit union regulator said Monday.

The National Credit Union Administration (NCUA) said the credit unions – which will pay individual penalties ranging from $150 to $757 – were mostly very small. Four of the six, the agency said, had assets of $10 million or less. Two had assets between $10 million and $50 million, according to NCUA.

The credit unions are: Far Rockaway Postal FCU, Far Rockaway, N.Y. ($304 fine); Caddo Parish Teachers FCU, Shreveport, La. ($424); Phi Beta Sigma, Washington, D.C. ($150); Firefighters CU, Salt Lake City, Utah ($757); Galveston Government Employees, La Marque, Texas ($269); Southwest Counties School Employees, Neosho, Mo. ($355). All six have agreed to pay the CMPs.

The Texas state regulator also fined the La Marque, Texas, credit union, the agency said.

Six Credit Unions Agree to Late-Filing Penalties for Second Quarter of 2019