Compliance Question of the Week

What should be done if an IRS refund direct deposit went into the wrong account?

Catalyst Corporate Launches Mobile Solution

NWCUA Annual Sponsor Catalyst Corporate explains how credit unions can now use a uniquely-branded application to connect to mobile membership.

Washington Public Funds Bill Passes Out of Committee

A bill to increase the limit on the amount of public funds that credit unions can accept in the state of Washington took another step toward passage, receiving a positive recommendation after a hearing in front of the Washington State Senate Financial Institutions, Housing & Insurance Committee.

Bill to Raise Public Deposit Level for Credit Unions Receives First Hearing in Washington Legislature

The NWCUA’s effort to modernize Washington state’s public depositary laws received official support from the State Treasurer’s office and the city of Seattle yesterday during the new legislative session’s first hearing of the Senate Financial Institutions and Insurance Committee.

Compliance Question of the Week

What happens if the person who is renting a safe deposit box dies? Who has access?

Compliance Question of the Week

A member died some months ago. None of his accounts, including the safe deposit box, shows any beneficiary or joint owners. Nobody has come in claiming to be the personal representative. What should we do with the safe deposit box?

Know Your Safekeeper: The Importance of Protecting Your Investments

Gary Tantleff, Managing Director – Credit Union Advisory Group at UBS, discusses several recommended practices related to the management and safekeeping of investments.

Compliance Question of the Week

If a credit union offers to deposit $25 in a member’s share account if the member refers an individual to the credit union, and this individual then opens an account, is the $25 considered a bonus?

Will the US Debt Downgrade Result in an influx of Cash Deposits in Credit Unions?

Standard and Poor’s downgrade of the U.S. credit rating is causing stress as Americans wonder whether cash deposits are safer havens for their money than the volatile stock market. This could present a challenge for credit unions.

Compliance Question of the Week

If credit unions give new members $25 cash gift for opening a new share deposit account, is there an IRS reporting requirement?

Compliance Question of the Week

We have a deceased member who had a safe deposit box. The executor has proper letters of testamentary, but we now have a beneficiary claiming that the property in the box belongs to them. What should we do?

Legal Briefs

Your update on the regulatory landscape.

Key Info for WA CUs Holding Public Deposits

DFI has scheduled a free webinar to answer questions about the application, approval, and on-line reporting process for Washington state-chartered credit unions choosing to become qualified public depositaries.

Compliance Question of the Week

When are member funds presumed abandoned?

Bouncing Cashier’s Check Fraud Scams

This form of fraud is on the rise, and the victims are usually the people who can least afford to be taken.