The Leagues provide its Member's First philosophy in communicating "real time" comprehensive news and information. We focus on strategic, operational and the philosophical values of our membership. We work to advocate your interests, and position our member credit unions at the "top" of the financial services community.
View the latest news about credit unions in California, Nevada, and around the nation.
Find current and archived issues of the Leagues' award-winning magazine.
Take a visual journey and explore the faces behind the California and Nevada credit union movement at a number of events, meetings, fundraisers, and conferences!
Catch up on what California and Nevada credit unions are accomplishing within their communities every month!
SENATOR HOLLY MITCHELL
|Team Mitchell left to right: Myriam Valdez, Legislative Aide, Senator Holly Mitchell (D-Los Angeles), Tim Shelley, Rules Committee Consultant, John Skoglund, Legislative Aide, and Rodney Wilson, Senior Legislative Advocate, California and Nevada Credit Union Leagues.
06/22/16 02:17 PM
Senator Holly Mitchell
and her staff accepted this year's Credit Union SacTown Run trophy as the winning legislative office. Team Mitchell represents the victorious team of participating California state legislators and their staff who ran in support of local Children’s Miracle Network Hospitals (CMN) alongside credit union leaders, volunteers, and employees.
Click to view the latest Members in the News
From the Editors of CU Weekly
TREASURY CHECK PROCEDURES FOR CUs
07/14/14 01:58 PM
Special Rules Apply
A Treasury check, more than any other type of check, calls for special attention regarding proper endorsement of this monetary instrument. They are subject to the next-day availability rule under 12 C.F.R. Part 229 (Regulation CC), and are a favorite target of thieves and fraudsters.
Although the California Uniform Commercial Code generally covers check endorsements, Treasury checks are governed by 31 C.F.R. §240.4, which addresses endorsement and presentment guarantees.
Endorsement and Presentment Guarantees
A credit union presenting a check to the Treasury Department guarantees to the Treasury all of the following:
- That all prior endorsements are genuine, whether or not an express guarantee is placed on the check.
- When the first endorsement has been made by a third party, the presenting credit union and the endorsers are deemed to guarantee to the Treasury that the person who endorsed it had unqualified capacity and authority to endorse the check on behalf of the payee.
- That the check has not been materially altered.
- That the guarantors have no knowledge that the signature of the drawer was forged or unauthorized.
- That the guarantors have made all reasonable efforts to ensure that a check is not a counterfeit.
Credit unions should take care to ensure their staff is appropriately trained to secure proper endorsement of Treasury checks, and to identify abnormalities in these negotiable instruments that may indicate an alteration to, or counterfeiting, of the check.
Click here to read the entire Research and Information column on Page 19 within the June/July edition of Credit Union Digest!