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  • Performance Evaluations
    Forum topic

    I'm new to the audit field and we have a new CEO in our credit union. I report to the CEO as well as the Supervisory Committee.  We are curious how other Credit Unions handle the annual performance appraisal of the Internal Auditor.Is the appraisal a mix of CEO (more of a day to day or operations supervisor) and Supervisory Committee (oversees audits and annual audit plan) or all CEO or...?  We're a little unsure of how to proceed and keep the independence of the auditor but be able to measure performance somehow.Thanks for the help!

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  • Dormant account fees
    Forum topic

    We are considering the assessment of a monthly fee on dormant accounts.  Does anyone else do this?  If so, how much do you charge?  Do you charge on all accounts across the board or only accounts below a certain dollar threshold?  How was this received by your membership when first implemented - did you have a lot of complaints or account closures?

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  • MBL and Website External Audit Estimated Costs
    Forum topic

    Hello All, We are putting together our budget for 2012 external audits. Our plans are to get an external firm to perform a Member Business Loan audit and a Website Compliance audit. For those that have outsourced these two audits, I'm looking for some estimated numbers on the cost of both of the audits. Without sharing the firm's name, would anyone be willing to share about how much we should budget for these audits? Any feedback would be helpful. Thanks, Samantha Cornell BayPort Credit Union scornell@bayportcu.org

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  • Fedline Advantage Audit question
    Forum topic

    Hi allI am in the process of completing the Fedline Audit for this year and have a general question...for those of you that use the FRB's Fedline Advantage do you have a specific policy addressing the the controls as outlined in the Fedline Advantage Monitoring and Control Guidelines?or are these addressed within your IT Policy? thanks for any assistance

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  • Check 21
    Forum topic

    Do any of your Credit Union's post thumbnail check images on printed members' receipts?  Does your system have the capability to block out certain information and do you block out certain information?  Thanks in advance.

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  • Late Fees on Indirect Auto Loans for FCUs
    Forum topic

    For those of you in federally chartered credit unions that are involved in indirect lending.............What late fees does your CU charge on indirect?  Do you accept the dealer's standard retail installment contract (many state 5% of the payment amount)?  Or, do you charge the same late fees that you do on your direct portfolio, if the two methodologies differ? Do you then have the members sign an addendum? At our CU, we charge a $25 minimum late fee or 20% of the interest due (as stated in our bylaws), whichever is greater.........on our direct auto loans.  Since we are new to indirect, I

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  • FSAs Showing up on Credit Reports
    Forum topic

    We are seeing Flexible Spending Account (FSA) credit cards show up on credit bureau reports. Is anyone else seeing this? If yes, how are you handling for debt ratio purposes?

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  • Insider Fraud
    Forum topic

    A reporter from CU Times wanted to know, from an ACUARP perspective, if IA's have seen any increase in the past year or 2 in insider CU fraud.  Please post a thought or 2 here, whether at your CU or you have become aware of others.  No individual CU's will be named. Thanks!

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  • Audited Financial Statements
    Forum topic

    Does anyone have their audited financial statements other than year end?  Reason asking:During our annual meeting in February we present unaudited financial statements as of 12/31 but our year end is as of May 31st.  Seems like we would have our annual meeting in July after the CPA firm has audited our financial statements.  Thanks.

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  • CUSO (Credit Union Service Organization)
    Forum topic

    We may be establishing a CUSO in the very new future.  This CUSO will have its own board of directors and be wholly owned by our credit union.  Our supervisory committee has a lot of questions concerning their roles as far as the CUSO is concerned.  For those of you who already have CUSO's, can you tell me what your supervisory committee role is? Thanks.Tannia Weaver /SunStateFCU 

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