Dear Board of Directors:
The purpose of this letter is to inform you of changes to the NCUA Rules and Regulations, Part 740, Accuracy of Advertising and Notice of Insured Status. NCUA revised the requirements for use of the official insurance sign and official advertising statement to permit federally insured credit unions flexibility in advertising.
NCUA amended Part 740(b)(2) to include:
- An insured credit union may purchase signs from commercial suppliers or develop its own in any color scheme so long as they are legible and otherwise comply with Part 740;
- A credit union may alter the font size of the official sign to make it legible on its Internet page and on documents it provides to its members including advertisements; and,
- A credit union may not alter the font size of the official signs to be placed at each station or window where the credit union normally receives insured funds or deposits in its principal place of business and all of its branches.
A federally insured credit union is required to include either the official advertising statement or the NCUA official sign on all its advertisements and on its main Internet page. This means that federally insured credit unions can substitute the official NCUA sign for the official advertising statement. The downloadable graphic of the Official NCUA Sign can be accessed at NCUA’s website. A full text of the revised Part 740 of the NCUA Rules and Regulations is also located on the Recent Final Rules web page.
If you have any questions or concerns, please contact your NCUA Regional Office or State Supervisory Authority.