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  • New Branches
    Forum topic

    Does anybody perform audit procedures in conjunction with the opening of a new branch?  We have 2 locations opening this year, and I am planning to perform limited procedures to verify the basic security of the locations and the propriety of the accounting (i.e. useful lives, date in service, capitalize/expense, etc).  However, I would be curious if anybody does anything more in depth.                      Thanks,    Scott Adams  

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  • Safe Deposit Box Access
    Forum topic

    As we are adding new branches, our operations team is reviewing how we grant SDB access.  Currently they verify the member, have the member sign a "time card" that shows date and time in/out and the employee has to initial.  Then once inside, there is dual control key entry, one for the member and one from the employee..Part of our operations team wants to do away with the dual key control and the time card signing in/out.  I was curious how other CUs handled box access. 

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  • WIRE PIN authorization procedures
    Forum topic

    We recently had an online banking security breach, due to the "bad guys" obtaining member info from outside sources, registering a member on online banking, and calling in (with all proper ID) to request a wire out.  Our procedures permitted the first time phone request for a wire to not need a PIN.  We no longer allow first time call- ins to request without a PIN.Members are now asking if they can email us to set up the PIN Authoriztion form and not have to come in and sign in person.  Do you permit this?  Are there other issues to include in revising our Wire Policy and Procedures?thanks

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  • Online Account Opening-Debit Card Applications
    Forum topic

    For those of you that have online account opening, when a member orders a Debit Card through this process and electronically signs the application, do you take any extra steps to obtain an actual signature for the Debit Card application? Right now, on the ACCOUNT level, we are taking the extra step to obtain the member's signature on an actual Signature Card. The operations department (who orders the debit card) keeps a file in order to track the sig card down, copy it, and attach it to the debit card application portion of the online acct form.

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  • FCRA-Accuracy and Integrity of Information
    Forum topic

    New FCRA rules went into effect July 2010 on the accuracy and integrity of information furnished to credit bureaus. The FCRA (and NCUA 717) states that there must be written policies and procedures concerning the accuracy and integrity of information furnished to credit bureaus. Does anyone have a policy that they can send to me?

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  • Indirect lending
    Forum topic

    For indirect lending,
    a. assuming you do risk-based pricing, what is the credit score range for your lowest paper grade (e.g. our Tier 4 range is 600-639).
    b. what % of loan applications are rejected (ours is 44%).

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  • Election Vendors
    Forum topic

    I'm preparing an RFP for our Annual Elections.  We're $2 B in size with over 181,000 members and are looking for a vendor that can support internet and telephone voting with paper ballots mailed to the membership.Can anyone recommend a good election vendor?Thanks for your help. 

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  • SSAE 16 (SAS 70) Review Checklist
    Forum topic

    Does anyone have a SSAE 16 (formerly known as SAS70) review checklist or template that their Managment uses for SSAE 16 Reviews? And if so, would you be willing to share??? Thanks,Kathie.corrigan@pcu.org

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  • Repetitive Wire agreements
    Forum topic

    Is anyone aware if a Repetitive Wire agreement can expire?I have some that are quite old or in the name of a former CU acquired thru merger. Thank you

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  • Verification of Address Change
    Forum topic

    We send out notifications to members when the address is changed on their account.For those members that receive e-statements only, we do not send out notifications of email address changes.  I'm wondering what other credit unions are doing in this circumstance?   Do you send a change notification to the physical address on file? Thanks

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