ALEXANDRIA, Va.–Nine credit unions have been assessed financial penalties by NCUA for filing late call reports for the third quarter of 2018.
The credit unions agreed to pay the civil money penalties (CMPs) totaling $4,069.
NCUA said it assesses CMPs based on three factors: the credit union’s asset size, its history of filing call reports on time, and the length of the filing delay.
The largest penalty for filing a late Q3 2019 report was assessed to Lancaster Red Rose Credit Union in Lancaster, Penn., which was fined for $1,368.
According to NCUA, eight of the nine credit unions were only fined by the federal regulator; one – Martin Luther King Credit Union of Houston was also fined by its state regulator for a late report.
The nine credit unions are:
- Back Mountain, Shaverton, Penn., $408
- Fayette, Mount Hope, W.V., $385
- Garland County Educators, Hot Springs, Ark., $340
- Lancaster Red Rose, Lancaster, Penn., $1,368
- Martin Luther King, Houston, $205
- Resurrection Lutheran, Chicago, $453
- Tabernacle, Augusta, Ga., $302
- West Side Baptist, St. Louis, $303
- White Gold, Raceland, La. 305