New 'Financial Data Update' Survey Developed by Leagues

Taking survey on lap top

The California and Nevada Credit Union Leagues have developed a new and improved monthly Financial Data Update Survey, which helps the Leagues aggregate the current financial picture of credit unions in both states.

Credit union leaders received the online survey this past week. It has been streamlined for easier completion.

The survey questions capture an ongoing year-to-date visual of credit unions' return on assets (ROA), net worth ratio, delinquency ratio, shares, loans, assets, and provision for loan losses.

It will also capture information on COVID-19 related mortgage forbearances/extensions, as well as all mortgage defaults (whether COVID-19 related or not).

The Leagues would like to remind recipients that their response is critical as the industry continues advocating for thoughtful, sensible policies with state and federal lawmakers and regulators who are responding to the economic disruption caused by the COVID-19 pandemic.

A big "thank you" goes out to participants for their assistance as the Leauges continues assessing the financial state of the industry and demonstrating to policymakers the impact credit unions are making in their respective communities!

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