By The Way

The By The Way newsletter is a great way to keep Kentucky credit unions informed of the latest updates in governmental affairs, compliance and regulations, education and training.  In addition, By the Way highlights the difference credit unions are making on a daily basis.

League Updates

Annual Meeting & Convention Recap

CUNA Announcements

Educational Opportunities

Credit Union News

If your credit union would like to share an announcement, please email your article to Janet Garrett.

Compliance Updates

Career Opportunities
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Your League is Your Resource

The Kentucky Credit Union League serves one purpose: To promote the growth, unity, and vitality of Kentucky’s credit unions by providing the highest levels of professional services and programs.

As a League member, you have access to FREE: 

  • Employment Law & Human Resource Management assistance
  • Compliance assistance
  • BSA Training for Board, Compliance Officers and Frontline Staff 

Continue reading for more information on these services. 


 

Free Employment Law Hotline

As a member credit union, you can now contact the Woods Rogers law firm for daily human resource issues. Through a new partnership with Woods Rogers’ Labor and Employment Attorneys, our member credit unions now have access to a FREE EMPLOYMENT LAW HOTLINE. 


The free hotline service is a dues-supported function of the Kentucky Credit Union League. 

Contact the firm at 800.552.4529 for answers to your basic human resource management questions. The primary areas of concern for credit unions contacting Woods Rogers include, but are not limited to: 

  • Terminations
  • Discipline
  • FMLA
  • FLSA
  • ADA Compliance
  • Attendance Control Issues 

COMPLIANCE ASSISTANCE


 

League Compliance Services

Compliance challenges continue to grow. That is why your League partners with PolicyWorks LLC to deliver exceptional compliance services to our credit unions. 

Compliance Professionals at Your Fingertips

Regulations are updated with increasing frequency and growing more complex, making it hard for credit unions to stay on top of everything. The professionals working our compliance hotline provide league members with timely answers to their compliance questions. 

Resources to Keep up with Changing Regulations

PolicyWorks provides a variety of resources to keep your member credit unions up to speed on changing regulations. Our members-only website features a repository of questions frequently asked by their credit union peers, up-to-date compliance information on new guidance from regulators, summaries of new rules, a list of upcoming compliance deadlines and much more. 

SUITE OF SERVICES:

+ Phone and email support

+ Monthly newsletters

+ Rule Summaries and Q&As

+ Members’ only website

+ Compliance calendar

+ Town Hall webinars 

Compliance assistance through PolicyWorks LLC is a dues-supported function of the Kentucky Credit Union League. 

Read more about PolicyWorks on our website at https://www.kycul.org/policyworks-llc.  To access PolicyWorks, you must have a username and password.  For login help, please email [email protected] or call 1-866-499-7350.  

BSA TRAINING


 

BSA Training for Board, Compliance Officers & Frontline Staff

Under the Bank Secrecy Act (BSA), financial institutions are required to assist U.S. government agencies in detecting and preventing money laundering.  Your League can assist in making sure all employees and volunteers understand their role in maintaining an effective BSA compliance program.

BSA training for Board, Compliance Officers & Frontline Staff is a dues-supported function of the Kentucky Credit Union League. 

For more information, please contact Eileen Burden at [email protected].

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Governmental Affairs Update

This month Credit Unions were invited to a Hemp industry learning session hosted at the Kentucky Department of Agriculture and led by Agriculture Commissioner Dr. Ryan Quarles and Chief of Staff Keith Rogers.  This learning session was focused on giving Credit Unions the opportunity to learn more about this nascent but booming industry from the perspective of the agriculture industry.  It also gave us some insight on how credit unions could potentially play a role in this industry and be a resource to members who may be involved.  

Representatives from NCUA, the KY Dept. of Financial Institutions, and the office of Cong. Andy Barr also joined the League and Kentucky Credit Unions at this meeting. 

If you would like to learn more about this meeting, or this topic in general, please reach out to Kyle Hagerty at [email protected]

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Welcome Back Katie!

We are so happy to announce that Katie Means has returned to the League Staff, in the Administration Department. Katie previously worked for the League, in the Education Department, from 2008-2013. 

During her time away from the League, Katie worked for a recruitment solutions company, as the National Account Services Manager with clients such as Amazon and FedEx. She worked alongside the sales team to plan, execute and renew successful recruitment campaigns utilizing digital and traditional media. She also assisted with the company’s Job Fairs, which hosts over 100 events nationally each year. 

Katie is a graduate of the University of Louisville and, together with her husband, Jonathan, they have two wonderful children, Annabelle and Max.

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Ashland Build a Bed receives $25,000 grant

On September 25th, Ashland Build A Bed received a $25,000 State Farm grant after community voting placed the project in the top 40.

“We are ecstatic, there are no words,” said Tiffany Black, Members Choice Credit Union business development and marketing manager. “This will provide at least 100 beds, so we are hoping that with our sponsorships and community partners, we will be able to spread it out for the next year or two.”

The Build A Bed Project is conducted by the Kentucky Credit Union League Ashland Chapter. The project placed in the top 40 out of 2,000 submissions, and two other organizations in the State of Kentucky won the grant. 

The goal of the Build a Bed project is to give beds to school-aged children who are forced to sleep on floors, couches, or in beds with multiple other children or family members. This regional Build-A-Bed Project through Morehead State University has provided more than 1,000 beds to children in Eastern Kentucky since it began in 2010. 

Each child receives a brand-new bed and mattress along with a bedtime bag containing sheets, a pillow, blanket, stuffed animal, book, alarm clock or nightlight, and a hygiene kit. 

“I think this last year, we had 222 volunteers.  It has been a great experience for everyone involved,” said Candace Stanley, Ashland Credit Union business development and marketing. 

Applications for a bed will open on October 1 on the new website ashlandbuildabed.org

March 7 will be the next construction date for the beds.

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Annual Meeting & Convention Recap

Thank you to all of the attendees, sponsors, exhibitors, and special guests who made the 85th Annual Meeting and Convention a success!  This year's event brought in 144 attendees from 38 credit unions and showcased 44 vendors in the Exhibit Hall.

Please save the date for the 86th Annual Meeting & Convention on AUGUST 26-28, 2020 at the Omni Louisville Hotel.

Golf Scramble

The golf scramble was held at the University Club of Kentucky.   

1st Place

 
(l-r) Danny Bruce, Nancy Towery, Dale Towery, Darrick Herndon (Your Hometown Federal CU)

2nd Place


(l-r) Brett Walker (PolicyWorks LLC), Steve Wine (Kemba Louisville CU), Clay Smith (Evans Simpson & Assoc.), Tommy Ballard (Your Hometown FCU) 

3rd Place


(l-r) Joey Herm (Lifetime Financial Growth), Mike Hines (Transfund), (Jonathan Mays (Commonwealth CU), Jim McCabe (VERO LLC.)

 

Awards Banquet

CUNA Awards Ceremony

Commonwealth Credit Union was awarded the Dejardins Adult Award in the more than $1 Billion Asset Category.

 

Fort Knox Federal Credit Union was awarded the Dejardins Youth Award, the Dora Maxwell Award, and the Louise Herring Award in the more than $1 Billion Asset Category.

 

 

Class Act Federal Credit Union was awarded the Dejardins Adult Award in the $50 to $250 Million Asset Category.

 

  Expree Credit Union was awarded the Dora Maxwell Award in the $50 to $250 Million Asset Category.

 

Lake Chem Federal Credit Union was awarded the Louise Herring Award in the $50 to $250 Million Asset Category.

 Chapter Awards

CU in Attendance

 

Connie Evans (Lake Chem FCU) accepts the award for Western Chapter

Most Effective Chapter

Gretchen Short (Ashland CU) and Tiffany Black (Members Choice CU) accept the award for Ashland Chapter

 

Kentucky Awards

Frank Moore Outstanding ProfessionalConnie Evans, Lake Chem FCU

Steve Brody Outstanding VolunteerWilliam Eskridge, Jefferson County FCU

Richard Zimmerman Outstanding
Young CU ProfessionalJessica Adams, Lake Chem FCU

Wayne Woodward Philosophy
in Action
Carlissa Brown, Park Community CU

 Wendell Lyons Advocacy in Action Award

 Johnny Abbott, Members Choice CU

 

 

Other Awards

Service Award

Gary Lord, L&N FCU
Chris Brown, CEO, accepted the award on Gary Lord’s behalf.

Distinguished Service Award

Larry Moore, Autotruck Financial CU
Jim Thompson, CEO, accepted the award on Larry Moore’s behalf.

  

Governmental Affairs Breakfast

The final day of the Annual Meeting & Convention kicked off with a governmental affairs breakfast with Congressman Andy Barr (KY-06) addressing the pressing issues facing Congress of importance both to Credit Unions and of national significance.  We also heard from the Commissioner of the KY Department of Financial Institutions on the State of Credit Unions in KY. 

The keynote address was given by Richard Gose, Chief Political Officer at the Credit Union National Association (CUNA).  Richard spoke about the key to effective advocacy and awareness efforts and discussed the progress of the #MoveKentuckyForward campaign.  Gose also reminded all in attendance that our advocacy efforts do not stop here.  We must all #MoveKentuckyForward by sharing our stories and encouraging our members to share theirs.     

Please visit https://www.movekentuckyforward.com/ to upload stories and to learn more about the #MoveKentuckyForward campaign. 

 

Emerging Leaders Closing Session

We are proud to sponsor the Emerging Leaders Program — a program designed to bring up-and-coming credit union professionals to the next level and prepare them for leadership roles within the credit union movement. 

The 2019 Emerging Leaders Program began in March with 24 participants from 10 credit unions. Participants attended (4) one-day sessions on topics specifically geared towards credit union history and philosophy, financials, professionalism and leadership, and political advocacy.  In addition, participants contributed to a service-learning project that combined leadership skills with corporate responsibility and presented their final projects during the Closing Session at the Annual Meeting & Convention followed by a completion ceremony.  

Congratulations to the 2019 Emerging Leaders Class!

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Do you want to Crash the GAC? Then you're in the right place!

WHAT'S A CRASHER?

Crashers are credit union young professionals (35 & under, or "35 at heart") who are sponsored to attend a conference at a lower cost and with additional content designed especially for YPs. Applications are easy, and the entire experience is career-changing!

CRASH THE GAC 2020!

The 2020 CUNA Governmental Affairs Conference (GAC) is February 23 - 27. The Cooperative Trust, CUNA, and your state leagues/associations are joining forces to get at least one Crasher per state and D.C. represented at GAC. This is the premier credit union advocacy event of the year, Crasher spots are limited and coveted. We're looking for the brightest talent and those who are passionate about serving others through cooperative finance.

Crashers receive free conference registration from CUNA. Travel, lodging, and food costs are the responsibility of the Crasher and their credit union. Scholarships and assistance may be available from your state league or association, please contact your league directly for more info.

Take a deep dive into the world of credit union advocacy with more than 50 other Crashers at the biggest event of the year - your career will never be the same!

Submit your application by 11:59pm CST on Saturday, November 30. Any questions? Email us at [email protected]. Good luck!

The Crash the GAC is brought to you by The Cooperative Trust and CUNA. 

The Cooperative Trust is made possible by CUNA.

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CUNA Compensation Resources

Shape and retain your ideal team

Use the surveys and reports that credit unions have relied on for over 30 years to make important decisions about one of your most valuable assets - your people. CUNA Compensation Resources offer surveys and reports that allow you to:

  • Set competitive staff salaries
  • Attract and retain top talent
  • Provide complete benefits packages
  • Compare your credit union's turnover and staffing levels

View the complete list of CUNA's salary and compensation reports.

CUNA Compensation Analytics

Set annual budgets and make salary decisions with  CUNA Compensation Analytics, a cloud-based, interactive tool that allows you to set competitive and attractive salary packages for your staff and executive team. CUNA Compensation Analytics is built from combined data from nearly 1,100 credit unions for 90 job titles - more credit union-specific data than other industry salary studies combined.

Learn more and sign up for access to CUNA Compensation Analytics today

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2019 Economics Conference

Date & Location:
November 6, 2019
Churchill Downs, Paddock Gate
700 Central Avenue
Louisville, KY 40208

Educational Investment:
$150 per person. Handouts, continental breakfast, buffet lunch and refreshments included.

REGISTER

Conference Leader: Mike Schenk, CUNA

Mike Schenk has 35 years of experience in the financial services industry. In 1992 he joined CUNA where he is currently Deputy Chief Advocacy Officer for Policy Analysis and Chief Economist conducting economic research and supporting CUNA’s public relations and advocacy efforts. He serves on the board of the $3 billion Summit Credit Union in Madison, Wisconsin which has over 160,000 members. He also serves as Board Chair and has Chaired the credit union’s ALM and Risk Management/Internal Audit Committees.

Conference Schedule:

  • Registration/Continental Breakfast: 8:30 a.m. – 9:00 a.m.
  • Economics Strategy Workshop: 9:00 a.m. – 10:15 a.m.
  • Conclusion of Program: 10:30 a.m. – 11:30 a.m.
  • Buffet Luncheon: 12:00 p.m. – 2:00 p.m.
  • Live Racing: 1:00 p.m. – 5:00 p.m.

Afternoon at the Races

Don’t miss this chance to network with your peers after participating in the Wednesday morning program. Churchill Downs will be the setting for the afternoon.

Registration Information

Attire:  Business casual. No jeans, shorts or tennis shoes. Remember to bring a sweater or jacket as comfort levels vary.

Cancellation Policy: Refunds will be issued until seven days prior to the event date less $50 administration fee per person. Substitutions are accepted at any time. All cancellations or substitutions must be submitted in writing.

Contact Information: For more information, please contact VolCorp at (800) 470-3444 or (615) 232-7900 Ext 3 or email [email protected].

Hotel Information

Four Points by Sheraton Louisville Airport
2850 Crittenden Drive
Louisville, KY 40209

A block of rooms has been reserved for November 5, 2019 – November 6, 2019 at the Four Points by Sheraton Louisville Airport. The special room rate of $112.00 per night will be available until Sunday, October 20th or until the group block is sold out, whichever comes first. Reservations made after this date are on a space available basis.

ATTENDEES ARE RESPONSIBLE FOR BOOKING THEIR OWN HOTEL ROOMS.

Reservations:
Call (502) 753-5555 and mention Group Code: VolCorp

BOOK ONLINE

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Ashland Credit Union brings 'Mad City Money' to local students

Ashland Credit Union is bringing the futuristic world of “Mad City,” a hands-on financial literacy learning experience, to local high school students beginning Monday.

This exercise helps students make real-life financial decisions and places an emphasis on learning proper budgeting skills, how to write a check, how to balance a checkbook and how to expect the unexpected, credit union officials said in a press release.

The way the program works is that each student will randomly be given an occupation, salary, spouse, children and debt. They will learn how to budget, track receipts and learn from the consequences of their financial missteps. Credit Union staff and community partners will be manning “life stations” where students will choose a vehicle, living arrangements, plan for childcare and groceries and more. Each student will have to visit all stations while keeping in mind that their expenses also include obligations like credit card debt, medical insurance and a student loan payment. Participants will fill out a debit card register and a budget worksheet as they complete their tasks.

“ACU views financial education as a critical component to preparing high schoolers for later success in life,” said Larry Lucas, president of Ashland Credit Union. “Avoiding financial pitfalls and making wise choices with your finances will ultimately reduce one of the major sources of stress that people face. This reality fair was designed to ultimately teach them that these choices in life matter. At ACU, our mission is to maximize the financial well-being of our members. This financial well-being starts with the daily decisions these students will be making.”

Students will experience surprise bonuses to their accounts, which they are required to save, along with unexpected expenses that may bust their overall budget. The intent of this project is to provide a lasting impression of how each of our financial choices impact our future.

“This experience gives students an opportunity they may not get anywhere else,” said Elizabeth Hensley, marketing specialist and project facilitator for Ashland Credit Union. “It also offers it in a memorable way so, they are having fun while learning about something that has an everyday impact.”

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Commonwealth Credit Union’s, Glenn Griffin, is a CU Rock Star

When asked about Commonwealth Credit Union, Glenn Griffin has a simple answer: “This place raised me.”

Glenn, who has been with Commonwealth CU since 2003, has worked his way up to branch manager of three CCU locations. Griffin was recently selected as one of the Credit Union National Association’s industry Rock Stars for 2019. Each year, Credit Union Magazine recognizes those who excel and raise the bar not only in credit unions, but throughout their communities as well.

Glenn operates with the philosophy to never say “no,” but to say, “not right now.”

“When we have to turn down a loan request, we give the members the information needed to help them budget and raise their credit score.  Then we tell them to come back to us.”

When asked, colleagues are quick to point out that Glenn is the one everybody wants on their team. Glenn is a vital asset to the company, and Commonwealth CU is so proud of him for all his accomplishments. He truly embodies all the qualities of a Rock Star.

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Fort Knox Federal Welcomes Holly Sexton and Kayla VanMeter to the Credit Union Team

Fort Knox Federal Credit Union is thrilled to announce Holly Sexton and Kayla VanMeter as new members of the Credit Union team.

Hollie Sexton will serve as Fort Knox Federal’s new Public Relations and Financial Education Professional. As a former radio personality and host of Quicksie 98.3’s popular morning show, Hollie brings a wealth of community knowledge and strong local ties to this exciting, newly created Credit Union position. 

“Hollie’s new role will highlight the Credit Union’s renewed focus on providing financial education to individuals throughout the commonwealth,” says Eldon Tilley, Vice President of Marketing. “She will be out in the community connecting with hard-working families and will serve as yet another financial resource to help Kentuckians achieve more. Fort Knox Federal has always existed to improve our members’ financial lives and we’re beyond excited to have Hollie on board to spread financial wellness to even more families across the state.”

Reflecting on her new career opportunity, Hollie shared: “I am very excited about the new opportunity I have to do even more meaningful work in our community,” she said. “Working for a strong community partner like Fort Knox Federal and utilizing my unique skill set to connect with and serve more hard-working Kentuckians is truly the best of both worlds.”

Kayla VanMeter will serve as Fort Knox Federal’s new Marketing & Communications Professional. As a former News Anchor and Reporter for Wave 3 News and WBKO, Kayla is an expert at delivering accurate and engaging stories, breaking down complex information and building strong relationships.

“We’re so excited to have Kayla as part of our team and look forward to working together to serve more hard-working families across Kentucky,” says Eldon Tilley, Vice President of Marketing. “Her experience in creating relevant content and relating to her audience will be critical in sharing our strength through financial education, products and services that empower Kentuckians so they can achieve more.”  

“My new role at the Credit Union will put my passion for people and conversation to work - helping Kentucky families and strengthening our communities,” Kayla said. “Integrity and honesty are very important to me. I’m so pleased to start my next chapter with an organization I trust and a mission to help our fellow Kentuckians.”

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Greater Kentucky CU Raffle Helps Benefit Central Kentucky Riding for Hope

Greater Kentucky CU is happy to help out Central Kentucky Riding for Hope with their raffle at the Fayette Fest this year.

CKRH is dedicated to enriching the community by improving the quality of life and the health of children and adults with special physical, cognitive, emotional and social needs through therapeutic activities with horses.

Congratulations to Adrienne Collins on winning the raffle and the YETI Roadie cooler! 

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Service One CU Announces Teacher Grant Recipients Selected

Service One Credit Union is pleased to announce the 2019 Teacher grants were recently awarded. Classroom Supply Grants from Service One are designed to help K-12 teachers obtain needed classroom materials.  The supply grants were funded through the credit union’s Skip-a-Payment promotions, where eligible borrowers pay a $10 processing fee to Service One’s Educational Opportunity Fund in exchange for “skipping” their payment for one month. 

Service One is proud to announce the recipients of the 2019 Teacher Grants. Each recipient listed below will be awarded $250 for classroom supplies or teaching material. 

Congratulations to the winners!

  • Amy McLean - 12th grade English Teacher at Logan County High School
  • William Jones – Math Teacher at Warren Central High School
  • Jessica Carney – 2nd grade Teacher at Dishman McGinnis Elementary
  • Lauren Lowe – History and Language Arts Teacher at South Warren Middle School
  • Sharla Martinez – ESL Teacher at Bowling Green High School
  • Joyce Taylor – 4th grade Science, Social Studies, and Writing Teacher Auburn Elementary
  • Kanicia Mays – 2nd grade Teacher at Parker-Bennett-Curry Elementary
  • Keely P’Pool – Kindergarten – 4th grade Gifted and Talented Teacher at W.R. McNeill Elementary

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Service One Credit Union Provides Support for Kentucky Communities That Goes Well Beyond Financial Services

By: Adam West, cardrates.com

In the financial world, it’s often easy for an institution to hand a check to a local charity and claim the tax break and publicity that comes from a good deed. But some choose to go further to help their communities by offering not only financial resources but also their time and expertise.

Service One Credit Union, in Kentucky, falls within the latter category and works to make its local communities better. The credit union started as Western Kentucky University Credit Union in 1963. After serving the Hilltopper community for two decades, the credit union changed its name to Service One and expanded its reach throughout the Bowling Green and Glasgow areas of Kentucky.

Today, more than 15,000 members contribute to the credit union’s approximately $165 million in managed assets. Those members, and others in the community, can also turn to Service One for its philanthropic support and financial literacy efforts.

“Our main mission is to help working families,” said Myra Dwyer, Executive Communications Specialist at Service One. “We want to provide them with everything they need — from car loans to low interest rates.”

Dwyer said that Service One aims to create lifetime financial relationships with the people in its service area. And those relationships go beyond offering competitive rates and savings and loan products.

The institution and its employees also spend plenty of time working in the community and helping residents — whether they’re members or not — get on the right financial path.

“We want to help our members, and members of the community, plan for their futures, build savings, and save money on interest rates,” Dwyer said.

For its dedication to the people of Kentucky, Service One Credit Union has earned our Editor’s Choice™ Award for Community Commitment.

To read the full article, please click here.

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Service One Hosted Community Shred Day: September 14, 2019

Service One Credit Union announced its 6th annual community shred day was held on Saturday, September 14, 2019 at its 1609 Campbell Lane Branch, from 9am until 12:00pm (noon).  

We shredded and recycled 5,000 pounds of paper saving 45 mature trees, 1,000 gallons of oil, 18,000 gallons of water and eight cubic yards of landfill space. The total amount raised at this event was $865.01 to benefit the Center for Courageous Kids. Service One will supplement this amount and give CCK a check for $1,000. 

People contributed a minimum of $10 to benefit The Center for Courageous Kids, a world-class medical camping facility providing free and memorable camping experiences for children with life-threatening diseases and disabilities.  Paper disposal services were provided by Land Shark Shredding.  

The Center for Courageous Kids (or CCK) welcomes children with life-threatening conditions from all across the country for a week or weekend of medically supervised fun, friendship, respite, and silliness – all free of charge. Operating solely on donations, the tremendous opportunities that CCK provides each child living with medical challenges are made possible by generous contributions and donations from individuals, corporations, healthcare partners, foundations, and the community at large.  Find out more information about CCK by visiting: http://www.courageouskids.org/

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Fidelity Bond Coverage

NCUA finalized changes to its fidelity bond rule back in July with the changes that went into effect October 22, 2019.  The Federal Credit Union Act requires that certain credit union employees and elected officials have fidelity bond coverage.  Implementing requirements can be found in Parts 704 (federally insured natural person credit unions) and 713 (corporate credit unions) of NCUA’s Rules and Regulations.

What did the rule change for natural person federally insured credit unions?  

Generally, the rule expands credit union board of director oversight of fidelity bond coverage; extends the discovery periods after both a voluntary and involuntary liquidation; allows for bond coverage of certain credit union service organizations; it amends which type of bond forms will require NCUA Board approval; and establishes a sunset date for NCUA approved bond forms.

The board of directors of a credit union is responsible for annually reviewing all applications for the purchase or renewal of coverage to ensure that there is adequate coverage.  The board approval of the purchase and renewal of coverage should be documented in the form of a board resolution in the board meeting minutes. Also, the standard industry practice of employees signing renewal documents is no longer acceptable.  Once effective, any renewals must be signed by a non-employee and one that is different from the signatory that signed the prior renewal. 

Credit unions might want to start thinking about an appropriate time for the board to review the bond coverage (remember once this rule is effective, bond coverage will need to be reviewed annually).  Once you’ve determined the appropriate time for the annual bond review, you’ll need to organize all the relevant materials and forms set for review so these items can be included in the board packet. 

If there are any new purchases of bond coverage or renewals at this time, don’t forget there will need to be a board resolution (as NCUA wants approvals for new and renewed coverage documented in the board minutes).   In addition, remember that non-employees must sign any renewed or new coverage – and the same non-employee cannot sign for any consecutive coverage -- so do a quick check to see who signed the renewal last time and don’t use the same person.

What about the basic bond forms found on NCUA’s website?  Credit unions can use these forms without further NCUA approval.  However, if a credit union wishes to use a form that is not on the list it will need to obtain NCUA’s approval prior to using the form.  The NCUA Board will also need to approve any bond form that has been amended or changed. 

This blog post focuses on the rule’s requirements for natural person credit unions.  The changes for coverage of the fidelity bond apply to corporate credit unions as well and are generally the same as those for natural person federally insured credit unions, but please review the final rule analysis or the rule itself. For more information, see final rule from the Federal Register.

Source:  CUNA Compliance Blog

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