Twenty-five credit unions consented to $10,365 civil penalties for filing late 2016 fourth quarter Call Reports, the NCUA said Tuesday.
In the fourth quarter of 2015, 22 credit unions consented to penalties.
The $483 million Qualstar Credit Union in Redmond Wash., got the highest civil penalty of $2,509, followed by the $126 million Malheur Credit Union in Ontario, Oreg., that received a $1,293 civil penalty and the $78 million Weyco Community Credit Union in Plymouth, N.C. was slapped with a $1,079 civil penalty.
The remaining 22 credit unions got civil penalties that ranged from $151 to $501, and the median penalty was $253.
Seven of the 25 credit unions on the civil penalty list are based in New York, two from Ohio and two from Alabama.
The NCUA also reported that 11 credit unions that paid the civil penalty manage assets of less than $10 million; nine with assets from $10 million to $50 million; four with assets from $50 million to $250 million, and one with assets of more than $250 million.
A list of credit unions filing late in the fourth quarter of 2016 and agreeing to pay civil monetary penalties is available online here.
Four of the late-filing credit unions had been late in a previous quarter, the NCUA said in its released statement.
Although 41 credit unions filed Call Reports late for the fourth quarter of 2016, the federal agency said it consulted regional offices and, when appropriate, state supervisory authorities to review each case. That review determined there were mitigating circumstances in nine cases that led to credit unions not being penalized. Another six credit unions received a requested waiver, and one state-chartered credit union paid a penalty to its state regulator.
The Federal Credit Union Act requires the NCUA to send any funds received through civil monetary penalties to the U.S. Treasury.
