NEW YORK—According to S&P Global Market Intelligence, 499 credit unions, or 9% of all federally-insured credit unions, had not filed their first quarter 2020 call report as of May 15.
Amid the COVID-19 pandemic, NCUA extended the deadline for federally insured credit unions that file call reports on Form 5300 to May 26 from April 26. More than 90% of credit unions had filed call reports as of May 15, S&P Global Market Intelligence said.
As of May 15, the largest CU that had not yet filed was $41.38-billion State Employees' CU in Raleigh. N.C., S&P Global Market Intelligence said.
“The other credit unions that used the grace period were far smaller, averaging just $250 million in assets,” S&P Global Market Intelligence said.