October 29, 2020 - 4:28pm
#1
Hello,
Would anyone like to share your practices at your credit union on how you are complying with the NCUA Letter 10-FCU-03, specifically regarding the requirement to review member account activity? We use a third party broker, Raymond James, for the nondeposit investment services sales and would like to know how other credit unions are complying with the independent review process of account activity.
Also, as it relates to the periodic compliance reports to the board of directors, what type of details are being provided to your board and what is the frequency of such reporting.
Any feedback would be greatly appreciated. You may send information direclty to my email at erikag@missionfed.com
Thank you,
