|Arnold Ramirez, Research and Information Consultant for the California and Nevada Credit Union Leagues|
SHARES: MEMBERS VS. ACCOUNT OWNERS
updated 03/18/13 02:44 PM
R&I Expert Gives the Details
If you ever opened a new member account, you’ve probably had a member ask why they must have a regular share account. You may have said it was a requirement for membership.
As a matter of credit union policy, you may be correct. But when it comes to a regulatory requirement, this isn’t necessarily accurate.
Credit unions have created many ways of setting up accounts and memberships. Some credit unions choose to assign one membership to a single account and house all services provided to that member under the account. Other credit unions allow members to have multiple accounts with multiple services under each account.
Ultimately, the best way to set up memberships and accounts depends on the credit union’s preference, provided they adhere to rules of membership and account ownership.
Click here to read the entire article, Shares: Members vs. Account Owners, in the February/March edition of Credit Union Digest on Page 19.
MCWATTERS DISSENTS ON BUDGET VOTE updated
11/22/14 06:37 AM
Also, Revised RBC Rule Coming
National Credit Union Administration (NCUA) Board Member J. “Mark” McWatters was the only one to vote “no” on the board’s 2015 proposed budget, which will increase 4.2 percent over last year. The vote was 2 to 1.
ANNUAL FED WEBINAR ON REGS, GUIDANCE updated
11/21/14 10:32 AM
Also, FinCEN Issues Advisories
Senior staff at the Federal Reserve will host an annual webinar to provide a recap of recent regulatory changes and highlight various inter-agency guidance. The webinar will also discuss current hot topics in the financial services industry and give a glimpse of future regulatory changes.
NEW EMPLOYMENT LAWS FOR 2015 updated
11/21/14 04:33 PM
Also, TIPs Bulletin Posted
The California Chamber of Commerce has released a list of new employment laws scheduled to take effect in 2015 or earlier that will have an impact on businesses in California.
DIANA DYKSTRA RECEIVES 'EAGLE AWARD' updated
11/20/14 10:41 AM
Outstanding Record of Achievement
Diana Dykstra, president and CEO of the California and Nevada Credit Union Leagues, was presented with the American Association of Credit Union Leagues’ highest honor—the Eagle Award—this week during AACUL’s winter meeting in Hawaii.