CDFI Certification Becoming Easier
Credit unions certified as Community Development Financial Institutions can have a greater impact on their communities, and the application process for certification is becoming easier. In the latest issue of NCUA’s monthly newsletter, the Office of Small Credit Union Initiatives discusses the benefits of CDFI certification and how, working with the U.S. Treasury’s Community Development Financial Institutions Fund, NCUA is making a streamlined application process available for qualified credit unions.
NCUA Assistance Available to Credit Unions in Flooded Areas of Louisiana
Low-income-designated credit unions affected by flooding in Louisiana can apply for up to $7,500 in Urgent Needs grant assistance to repair damage or restore services to members. Information about Urgent Needs Grants is available online. Any credit union needing NCUA assistance should contact its primary supervisory examiner.
Helping Members Prepare for the New School Year
As the summer winds down and vacations end, credit union members nationwide are gearing up for the back-to-school season. To help members navigate the back-to-school season, credit unions can offer financial planning tools, tips and resources to their members.
NCUA Warns of Text Phishing Scam
NCUA has received consumer calls about a suspicious text message claiming to come from the agency. This is not a communication from NCUA. The agency does not seek personal information through the internet or on the telephone. If you suspect you may have become a victim of identity theft as a result of this scam, you should immediately contact the three major credit bureaus and request a fraud alert be placed on your credit report.
Understanding What Records to Keep
With the operations of credit unions becoming increasingly complex, it can be difficult to determine what types of operational records or information are critical and what are not. NCUA recognizes that credit unions must strike a balance between the demands of space and resources with the desire to retain all of the records that they may need to conduct operations successfully. While NCUA does not specifically regulate record retention policies and practices, we have created the following guidelines to help credit unions.