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Q1 CALL REPORTS DUE APRIL 25
updated 04/04/14 10:42 AM
Avoid Penalty Fees
Attention credit unions! First quarter Call Reports are due to the National Credit Union Administration (NCUA) on April 25. Failure to meet the deadline may result in a civil money penalty.

  • Up to a maximum of $1 million, or 1 percent of total assets, whichever is less, per day if a federally insured credit union knowingly or with reckless disregard for accuracy submits a false or misleading report and fails to correct it.
  • " rows="5" cols="100" WRAP="physical">Potential penalties for late filers include:
    • Up to a maximum of $2,000 per day for each day a required report is minimally late or contains uncorrected false/misleading information if the late or false/misleading filing is unintentional and the credit union has reasonable procedures in place to avoid such errors.
    • Up to a maximum of $20,000 per day for each day a required report is late or contains false/misleading information if the late or false/misleading filing is not covered by the "unintentional" safe harbor outlined above.
    • Up to a maximum of $1 million, or 1 percent of total assets, whichever is less, per day if a federally insured credit union knowingly or with reckless disregard for accuracy submits a false or misleading report and fails to correct it.

    The size of the fine will take into consideration the size of financial resources and good faith of the credit union, the gravity of the violation, the history of previous violations, and other circumstances.

     
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    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.

    LEAGUE SURVEY EXTENDED TO NOV. 21 updated 11/19/14 10:57 AM
    Overdraft and Courtesy Pay
    The deadline for the California and Nevada Credit Union Leagues’ survey to obtain information about credit unions’ overdraft and courtesy-pay programs has been extended to Nov. 21.

    CUs RECEIVE UNRIVALED SURVEY SCORE updated 11/18/14 11:10 AM
    Ranked First in 'Customer Satisfaction'
    Credit unions are ranked first in customer satisfaction, significantly outpacing all other financial services, according to findings released Tuesday by the American Customer Satisfaction Index (ACSI).

    2015 'GAC': TIME TO START PLANNING updated 11/18/14 09:20 AM
    Find Out More and Register
    With the elections finished and the 114th Congress scheduled to begin Jan. 6, credit union members should look forward to the next installment in the California and Nevada Credit Union Leagues' advocacy efforts: The 2015 Governmental Affairs Conference (GAC).