New and Improved CU PolicyPro System Launches

Over the last few months, the CU Solutions Group team has been working hard to improve CU PolicyPro, and the new system will help make customizing and managing policies easier than ever for credit unions.

What can credit unions expect?

  • A complete redesign, making it easier than ever for users to find, view and print policies
  • Policy Review Assignments with email reminders of upcoming (and overdue) assignments
  • Enhanced user access, allowing admins to assign editing rights down to the policy level
  • Ability to upload, organize, and assign rights to documents
  • Ability to view model policy content while editing your own policy
  • Auditing log of user activity on your credit union policies

What’s next for your credit union?

Initial conversions to the new system began April 5, and all conversions are set to be complete later this week. Keep an eye on your email for information on the conversion process for your specific CU PolicyPro implementation.

What can you do to prepare?

We will be migrating all users for all clients, and for those credit unions managing their policies in CU PolicyPro, migrating all policy and document content. Now is a great time to review your CU PolicyPro system and remove any old, outdated, or unused content and update your user list. Click here for step by step instructions on reviewing your data.

Please reach out to CU Solutions Group support staff with questions.

Question of the Week

Q. Under the TILA/RESPA Integrated Disclosure rule, are there any dwelling-secured loans that are exempt from the Combined Disclosures rule?

A. Yes, HELOCs, reverse mortgages, and chattel-dwelling loans, such as loans secured by a mobile home or by a dwelling (other than a cooperative units) that is not attached to real property, are exempt from the combined disclosure requirements (but you must still follow the TILA disclosure requirements laid out for these types of loans).

Related Link

TILA/RESPA Integrated Disclosures Rule

Compliance Alerts

National Credit Union Administration

NCUA Board Briefed on Emerging Cybersecurity Threats and PCA Relief Measures: The NCUA Board was briefed on two matters during its fourth open meeting of 2021. Cybersecurity events and trends affecting credit unions and the broader financial system and the interim final rule which extends the temporarily modifications of two areas of the NCUA’s prompt corrective action regulations.

Office of Foreign Assets Control

OFAC has updated the SDN list as of April 23. The last update prior to this was April 15.

Posted in Compliance, Compliance News.