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Latest News: Compliance

Which Policies are Required for Federal Regulation?

Wednesday, July 31, 2013   (0 Comments)
Posted by: Susan Dyer
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CU Policy Pro users receive regular information regarding policies and procedures. Here is just a sample of the up-to- date information credit unions receive from CU Policy Pro.

Q: What polices are required by Federal regulation?
A: There are several policies that are specifically mentioned or required by regulation or regulator guidance (if your credit union provides the service, program or product) and include:
  • ACH Policy   
  • Allowance for Loan and Lease Loss Policy   
  • Appraisal Policy   
  • Asset Liability Management   
  • Bank Secrecy Act   
  • Charge Off Policy   
  • Collections, Bankruptcy and Foreclosure Policy    Privacy Policy
  • Concentration Risk Policy   
  • Conflict of Interest/Code of Ethics   
  • Disaster Recovery   
  • Fair Credit Reporting Act   
  • Funds Availability   
  • Incentive or Bonus Pay to Employees   
  • Incident Response Policy   
  • Indirect Lending Policy    Unlawful Internet Gambling Policy
  • Information Security and IT Policy
  • Interest Rate Risk Policy
  • Investment Policy   
  • Loan Participation Policy
  • Loan Policy
  • Member Business Loan Policy
  • NSF/Overdraft Privilege Policy
  • Record Retention Policy
  • Red Flag Policy
  • Risk Based Lending Policy
  • S.A.F.E. Act Policy
  • Training Policy
  • Trouble Debt Restructuring and Non-Accrual Policy
  • Truth in Savings Policy
  • Vendor Management Policy

It is important to understand that some of these policies may be combined if that is how your credit union currently addresses all of the requirements.

Visit CU Policy Pro

If you have questions regarding the CU Policy Pro resource, please contact:

Credit unions < $25 million: Jerel Wright, (800) 362-2076, ext. 3102
Credit unions > $25 million: Tammy Wendland, (800) 362-2076, ext. 3023