Compliance Center: Members Wanting to Open Accounts Without Providing Any Taxpayer Identification Number

Setting the record straight on identification required to open accounts; your question answered about identifying non-U.S. persons under CIP; plus this week’s legal briefs.

“HACK ATTACK!@!!” Breakout to Address Credit Unions’ Cybersecurity Preparedness

By the time you read this article, another business will have been hacked. The question isn’t whether a hack attack will be attempted at your credit union, but how well will you respond? An Amplify breakout session will provide some solutions.

NCUA Chair Matz to Keynote NWCUA’s Amplify Convention

NCUA Chair Debbie Matz will deliver the keynote address at the NWCUA’s Amplify Convention, the Association announced this week. Matz addresses Amplify attendees on Oct. 8, the opening day of the region’s largest gathering of financial services providers.

Compliance Question of the Week

What are the required elements of a small estate affidavit?

NCUA, NASCUS Partner in State-Chartered Low-Income Initiative

A partnership between the NCUA and NASCUS will give state-chartered credit unions new opportunities to receive the Low-Income Credit Union designation.

Recapping Convention: Northwest Credit Unions Carry Out Cooperative Spirit

Last week marked the NWCUA’s 2012 Convention and Annual Business Meeting, the region’s premier gathering of credit union leaders. Read on for in-depth coverage of all the highlights…

CUNA Chairman Pulls Back the Curtain on National Credit Union Strategies

CUNA Chairman Mike Mercer gave what he described as a behind-the-curtain look at the credit union issues and strategies being discussed nationally. “As you can imagine,” he said, “none of these strategic issues are easy discussions. But CUNA is not shying away from the dialogue.”

What Not to Miss: Previewing Day 2 of Convention

Highlights of the first full day of the NWCUA’s 2012 Convention include a keynote address from Rabobank’s Arnold Kuijpers, the grand opening of the trade show, and a panel discussion with representatives from the Canadian credit union movement, all capped by the Credit Unions for Kids auction in the evening.

FinCEN Publishes Guidance on CTR Exemptions

FinCEN issued guidance this week to help financial institutions determine whether a customer or member is eligible for exemption from CTR requirements. The guidance is updated from a 2009 version to reflect the changes finalized this month.

Free Discovery Webinar to Address Credit Union Risks and Opportunities

Strategic Link strategic partner CUNA Mutual Group is presenting a free webinar on Feb. 29 to address credit unions’ unprecedented opportunity to capitalize on anti-bank sentiment in a challenging economy.

Compliance Question of the Week

What is considered positive owner contact that would prevent an account from going dormant?

Identifying Identity Theft

The economic cost of identity theft to members and credit unions is staggering, and the problem is only growing. What can you do to protect your identity?

A Video Message from CUNA President Bill Cheney

Credit Union National Association (CUNA) President/CEO Bill Cheney is one of three nationally known financial industry leaders headlining the Northwest Credit Union Association’s Convention and Annual Business Meeting in September. He shares a video message today.


Treasury’s guidance allows credit unions to honor crime victims’ wish to keep their addresses secret, while also complying with Bank Secrecy Act provisions.

Sony Latest to be Hit by Data Breach

With up to 70 million customers’ data compromised, criminals could use the data—possibly including credit card information—to access email and online bank account.

NWCUA: Oregon’s DCBS Fee Increase Proposal Necessary—Temporarily

Oregon credit unions will likely be paying more fees than expected in 2011 to the Department of Consumer and Business Services, the primary regulator of credit unions in Oregon, due to a budget shortfall caused by market forces.

Tips for ID’ing ID Theft

Recent estimates show that as many as nine million people have their identities stolen in the United States every year. Chances are you may already know someone who is a victim of this crime.