CREDIT UNION TRAINING - CU Training Inc.

COM01: COMPLIANCE: GENERAL OPERATIONS - FRB regulations

There are several important government acts that have an effect on daily interactions with members. Through the Bank Secrecy Act and related acts, the government requires us to be vigilant about the people we serve and the nature of the transactions we process. This program discusses regulations affecting our members' privacy, and our programs for ensuring both physical security, and security of financial information.

COM02: COMPLIANCE: DEPOSIT REGULATIONS - TIS/NCUA part 707

There are several acts and regulations that affect the way we deal with our members' deposit transactions. The program explains the written disclosures regarding account rates, fees and conditions that we are required to provide to members. It also covers electronic funds transfer regulations, conditions for making deposited funds available, procedures for handling checks, and credit union share insurance.

COM03: COMPLIANCE: LENDING OPERATIONS - FRB regulations, NCUA 701.21

There are several acts that affect the lenders’ role in a credit union. This program explores the acts that are fundamental to our credit union procedures: the Equal Credit Opportunity Act, the Fair Housing Act, Home Mortgage Disclosure Act and Truth in Lending.

COM04: BANK BRIBERY ACT - Bank Bribery Act/Conflicts of Interest, NCUA IRPS 87-1

The BBA prescribes the types of gifts that may and may not be accepted by officers and employees of the credit union and it is strictly enforced. The objective of this program is to acquaint staff with the procedures dictated by the Bank Bribery Act so they can easily save themselves and others from any acts of deemed impropriety.

COM05: BANK SECRECY ACT - Bank Secrecy Act, OFAC, NCUA 748

The BSA is a series of laws that require credit unions and other financial institutions to report certain transactions that could be linked to tax evasion, money laundering and other illegal activities to the federal government. The Bank Secrecy Act is an important link in our national security and this program will help staff understand their responsibilities in relation to this act.

COM06: THE USA PATRIOT ACT - Patriot Act (CIP) NCUA 748

The purpose of the Patriot Act is to facilitate the prevention, detection and prosecution of international money laundering and the financing of terrorism. To achieve the goals of the Patriot Act we need to know our members. This means staff must be familiar with those who are already members and must take great care to verify identification for any person opening an account. There are very specific procedures to follow and this program covers them in detail.

COM07: UNDERSTANDING CHECK 21

Check 21 facilitates check truncation and electronic processing through imaging and makes legal the use of the substitute check as a negotiable instrument. This program explains the value of Check 21, the required procedures and the substantial efficiency gains from improved availability of funds, greater efficiency in processing return items, and smaller losses from check fraud.

COM09: DEFINING SEXUAL HARASSMENT

Sexual harassment is viewed as a major problem by lawmakers as well as courts of judges and juries. Sexual harassment can carry big problems for organizations and employees. These lawsuits usually are very costly and embarrassing. This program is designed to help supervisors learn how to spot sexual harassment, report it inside the credit union and hopefully, prevent any significant problem.

COM10: RECOGNIZING SEXUAL HARASSMENT

In this program, supervisors learn how sexual harassment plays out in real life through real scenarios and situations. Through these examples, their knowledge of sexual harassment law will be solidified and they will learn more about how to spot possible sexual harassment. This will help them be better, more effective supervisors or managers to better protect your credit union.

COM11: MONEY LAUNDERING AND DUE DILIGENCE

The credit union has an Anti-Money Laundering program as part of our Bank Secrecy Act requirements. We have procedures in place to ensure that we know the true identity of our accountholders and to monitor activity that may indicate an account is being used for money laundering or terrorist financing.

COM12: ELDER FINANCIAL ABUSE PREVENTION

The number of elderly people in our country is growing significantly and, along with it, financial abuse of elders is burgeoning. The National Center on Elder Abuse estimates there may be as many as 5 million victims a year and experts concerned that seniors are falling prey to financial crime at an ever-increasing rate. This program explores elder and dependendant adult financial abuse as it relates specifically to credit union staff. It reviews what to watch for, how to recognize potential abuse, what to do when abuse is suspected, and the appropriate actions to take including when, and how, to bring the issue to the attention of authorities.

COM13: OFFICE OF FOREIGN ASSETS CONTROL

The objective of this program is to familiarize you with the Office of Foreign Assets Control. You will learn about our procedures for complying with the OFAC requirements, how to examine new accounts and transactions, and how to deal with individuals or organizations that are a true match with an OFAC list.

COM14: MONEY SERVICES BUSINESSES

The objective of this program is to introduce Money Services Businesses. You will learn how to identify this type of business, the due diligence required to open and operate this type of account, and the red flags that may alert you to possible illegal activities. You will also learn how to complete CTRs and SARs for Money Services Businesses.

COM15: INTRODUCTION TO IDENTITY THEFT

Identity theft describes a range of fraudulent activities, but is most frequently associated with the offense of using someone else's personal identifying information to gain profit or advantage, usually at the expense of that person, or another individual or organization. This program introduces you to all aspects of the offense of identity theft, including what identity data is, the methods by which it is collected, and the ways it is exploited by criminals, usually with a devastating impact on the life of the victim of the fraud.

COM16: IDENTITY THEFT AND THE 'FACT' ACT

In 'Introduction to Identity Theft', you learned what identity theft is, and the different methods by which identity data can be compromised and used fraudulently. In this program, we will study the legislative background, including the Red Flag Rules and Notice of Address Discrepancy Rules as enshrined in the FACT Act of 2003, and how the associated guidelines affect procedures when operating existing accounts, and opening new accounts. The onus is on you to verify identity and changes of address correctly; to respond appropriately to alerts and notices of potential identity theft; to recognize forgery and alteration of documents; to verify personal identifying information; to recognize suspicious activities related to new and existing accounts; and thereby detect and prevent fraudulent activities from targeting our members and our credit union.

COMPASS

New! - Instantly find credit union product & services information through our convenient knowledge reference system.

Every single product & service at your credit union is displayed online with:
• Product Description
• Features & Benefits
• Technical Info
• Sales Tips
• PLUS every related Federal & State reg!!!!

ORC05: CONFIDENTIALITY AND SECURITY - Grahmm-Leach-Bliley, NCUA 716 Bylaws

Credit unions have many procedures and actions that protect the confidentiality of the members' records and provide security for both members and staff. This program discusses significant security procedures, along with confidentiality procedures and the need to balance confidentiality with the importance of knowing the members. It reviews credit union policies and government legislation that are designed to protect and safeguard staff, members and the public at large.

ACC01: MEMBERSHIP & ACCOUNT OWNERSHIP - TIS NCUA part 707, state law

There are a number of laws and disclosures that must be abided by when processing an application for membership in the credit union. This program presents the requirements for membership in the credit union and the various account types available to members.

ACC02: SHARE INSURANCE - NCUA 740

This program covers credit union share insurance and how it applies to the various accounts members hold at the credit union. It reviews the different ways members can obtain the maximum amount of insurance coverage available; common myths about insurance coverage; and some common questions that members often pose.

ACC03: OPENING ACCOUNTS - TIS NCUA part 707, state law

Understanding membership eligibility, disclosure requirements and identity verification is critical to opening accounts accurately. Understanding the member's needs and how credit union products and services best suit those needs is critical to opening accounts effectively. Completing this program will prepare the employee for opening accounts both accurately and effectively.

ACC04: CLOSING ACCOUNTS - State law

Proper closing of an account varies based on the type of account and the ownership of that account. The circumstances that lead to the closing of an account may also affect the manner in which the account is closed. The purpose of this program is to assist the employee in determining the proper way to handle the closing of an account at the credit union.

ACC05: POWERS OF ATTORNEY - State law

Powers of Attorney allow one person, the attorney-in-fact, to act on behalf of another person, the principal. This program covers how powers of attorney work, the different types of powers of attorney, and how powers of attorney should be handled by the credit union.

ACC06: TRUST ACCOUNTS - State law

There are numerous types of trust accounts available at credit unions. This program explores the various types of trust accounts including how and why they are set up. It reviews the terminology that is used specifically when discussing trust accounts and it answers some frequently asked questions.

ACC07: DECENDENT'S ACCOUNTS - State law

This program covers what happens to funds left behind in credit union accounts when a member dies. It also reviews how to handle many other decedent account issues.

TEL04: CHECK HOLDS - REG CC

This program introduces the clearing process and explains how to protect the credit union from loss by placing holds on funds deposited in the form of checks. It also details the disclosures we are required to provide members about holding, and various time frames we must work within in order to prevent loss while allowing funds to be available to our members.

TEL05: PROBLEM CHECK RESOLUTION - UCC

This program discusses potential losses from fraudulent or non-sufficient checks. It explains the various problems that can arise when credit unions try to collect funds on a check. It reviews the elements of a check in detail and discusses the liabilities of the members, the credit union and that of other financial institutions when trying to resolve problems or recoup funds lost from fraudulent and non-sufficient checks.

TEL06: PREVENTING CHECK FRAUD - UCC

This program presents the preventative measures credit unions take to avoid, as much as possible, the potential for loss through problem checks. It discusses account opening procedures, special restrictions on new accounts, and reviewing check security features, liabilities and checks holds.

TEL09: ATM & EFT TRANSACTIONS - Regulation E

Electronic Funds Transfer and ATM Transactions are a fast and effective way for our members to conduct their financial transactions. This program discusses ATM card set-up, guidelines and cardholder privileges along with many other electronic funds services such as internet banking and telephone banking. It also presents general guidelines for setting up these services.

EFT01: ELECTRONIC FUNDS TRANSFERS - Regulation E

Over the past few years, there has been an explosion of ways for consumers to exchange money electronically without the use of paper checks. This program covers the various types of Electronic Funds Transfers; how they are set up and the regulations and disclosures required to protect both the consumer and the credit union in managing this form of exchanging money.

EFT02: EFT ERROR RESOLUTION - Regulation E

The Electronic Funds Transfer Act and Regulation E protect consumers from errors caused by unauthorized electronic funds transfers, whether by use of an ATM or debit card, Home Banking or Bill Payer, Audio Response or any other electronic activity on their account. These protections apply to natural persons who sign up for electronic services primarily for personal, family or household purposes. This program looks at error resolution procedures, preventing errors and the responsibilities of both the consumer and the financial institution.

EFT03: ACH TRANSACTIONS - Regulation E

The National Automated Clearinghouse Association is a network of companies and financial institutions that process not only direct deposits of items such as Social Security and payroll, but also Government Benefits, Tax Refunds, Electronic Checks, Conversion of checks to electronic debits and Direct payment of consumer bills such as mortgages, credit cards, loans and insurance premiums. All such transactions are referred to as ACH - Automated Clearinghouse Transactions. This program reviews the different types of ACH transactions and how they are handled by the credit union.

EFT04: HOME BANKING - Regulation E

Credit union home banking programs allow accountholders to securely access their credit union accounts to check balances, transfer money, review cleared items, and check deposits. This program covers the features, benefits and requirements for use of Home Banking.

EFT05: BILL PAYER - Regulation E

Bill Payer is a system that allows payment of almost any bill directly from a computer using a credit union checking account, a home banking PIN and Internet access. Bill Payer offers such flexibility as scheduling payments up to a year in the future. This program reviews the features and benefits of Bill Payer and requirements for its use.

INV02: HOW DIVIDENDS WORK - Truth in Savings

Interest is a major factor in any wealth accumulation plan. The rate of interest, how interest is applied, and the amount of time interest is given to work, will significantly affect the investor's bottom line. This program explores the relationship between interest and time, simple and compound dividends, and annuities. It demonstrates how credit union members can effectively accumulate dividends as part of their overall investment plan.

LEN01: UNDERSTANDING CONSUMER CREDIT - Regulations B and Z

Borrowing money is a significant event in a person's life, so understanding the elements of the lending process will be very important to our members. This program reviews different types of loans and loan issues: good loans versus bad loans, security or collateral, a detailed overview of the consumer loan document, along with a variety of general lending terms and conditions.

LEN03: THE LOAN APPLICATION - Regulation B

This program looks at the loan application and assessment process. It starts with the loan interview and shows how the process might feel to a member. The program looks at ways to deal with the member's uncertainties, and opportunities to expand the business the member does with the credit union.

LEN07: EQUAL CREDIT & FAIR LENDING - Regulation B and Fair Housing

This program discusses the regulations in place for promoting fair lending practices and preventing discriminatory lending practices. The program also covers record keeping and written communication, which are important parts of documenting our equal credit and fair lending policies and practices.

LEN08: ERROR RESOLUTION - Regulation Z

This program explains the regulations credit unions must follow in order to protect our members from credit fraud. It discusses the liabilities and responsibilities of the credit union, our members and other companies with regard to credit fraud prevention. It also covers errors in billing, and the rights and responsibilities of the member and the credit union in resolving billing disputes.

REL03: REAL ESTATE LENDING - Participants NCUA 722 (Appraisals)

This program focuses on all the different people involved in the mortgaging process including mortgagors, guarantors and mortgagees, second mortgagees, brokers, underwriters and appraisers, escrow, title insurance, insurers, and the credit bureau.

REL04: PROPERTY CONSIDERATIONS - NCUA 701.21 and secondary market

This program concentrates on the types of properties that can be mortgaged. It's important that we underwrite properties that maintain their value. This requires adherence to property standards, both urban and rural. The program also discusses placing a mortgage on raw land.

REL06: FLOOD INSURANCE/PROPERTY EVALUATION - NCUA 740, NCUA 722

This program explains flood insurance requirements as they apply to obtaining a mortgage to purchase a home. It covers the fees involved, appraisal requirements, record keeping and discusses the rights and responsibilities of both the borrower and the lender with regard to obtaining insurance and purchase property in flood hazard areas.

REL07: HOME EQUITY LENDING - Truth in Lending

This program looks at home equity loans and how we determine whether a member has equity in their home with which to borrow against. It reviews the different types of interest rate options and terms and conditions that apply to home equity loans, along with flood insurance requirements and documentation requirements.

REL08: MORTGAGE PAPERWORK - RESPA, TIL, Flood

A large part of being an effective lender is in understanding the required documentation in completing an application. The program reviews the various forms and documents used in a lending application and discuss the importance of each.

IRA01: IRA BASICS - IRS rules

This program explores historical information that provides context for the modern IRA, common IRA terminology, features of the most common types of IRAs, and contribution, distribution, and transfer guidelines for most IRA accounts.

IRA02: IRA ELIGIBILITY AND CONTRIBUTIONS - IRS rules

The person who establishes or contributes to an IRA must meet certain eligibility requirements and annual contribution limits and guidelines. This program introduces these basic requirements and the limits for each IRA type, as well as common methods for transferring IRA funds. Although it is the participant's responsibility to determine his or her own eligibility and contribution limits, staff need to be aware of the guidelines.

IRA03: IRA DISTRIBUTIONS - IRS rules

It's important to know how distributions are handled for various IRA types. Contributory and Rollover IRAs follow the same distribution rules. Roth IRAs follow a separate set of rules. This program discusses the Normal and Premature Distribution rules for Traditional IRAs. The rules for Mandatory, Normal, Premature Distributions are also covered along with Roth IRA Distributions, Qualified and Non-Qualified Distributions.

SEC01: MEMBERPRIVACY - (716) NCUA 716, Gramm-Leach-Bliley

Providing low-cost alternative sources to financial services is the hallmark of the credit union movement. Maintaining the relationships to insurance, trust, CUSO and other third-party providers is critical to the credit union mission. This program discusses privacy and security, the laws that protect us and the rights and responsibilities of both the credit union and our members.

SEC02: RIGHT TO FINANCIAL PRIVACY - State and Federal law

Both state and federal law govern the access to the credit union's records of accountholders information by state and federal government agencies and law enforcement. The credit union can only release information if the requirements discussed in this program are met.

SEC03: ELECTRONIC SECURITY - (748) NCUA 748

Federal law, the Gramm-Leach-Bailey Act, requires all financial institutions to insure the security and confidentiality of member records and information. This program explores electronic security and the role of the Board of Directors, management and staff in preserving the security of the credit union's data processing systems, home banking and other electronic systems.

SEC04: USE OF ELECTRONIC MEDIA - NCUA 748 Appendix A

Use of the internet requires responsible judgment, supervisory discretion and compliance with applicable laws and regulations. Users must be aware of electronic media security and other privacy concerns. Users must also be aware of and follow management directives for Internet usage. This program discusses electronic media, its purpose in our business and what is considered acceptable use of electronic media by employees of the credit union.

SEC05: PRETEXT CALLING/MEMBER IDENTIFICATION - Gramm-Leach-Bliley

Obtaining private financial information under false pretenses is known as pretexting, and it is against the law. This program examines issues with pretext calling and its close cousin, identity theft. It provides examples of pretexting that take place over the telephone, in person, by mail and by email.

BAC01: OPENING BUSINESS ACCOUNTS - (regs that apply to business and consumer accounts)

Credit unions offer share, share draft, certificate and other types of accounts to members who have businesses. This program focuses on developing a strong understanding of business types to allow more time to concentrate on enhancing the members' experience with the credit union.

BAC04: MEMBER BUSINESS LOANS - NCUA 723

Credit unions are able to provide credit to businesses that fall within the credit union’s field of membership. This program covers the types of credit available for member business loans (MBL) and business purpose loans, and the administration of business loans.

CLR01: CHECK DEPOSITS - Fed Rules

The process through which member financial institutions exchange payment items, whether in paper or electronic form, is referred to as "clearing". This program reviews the clearing process, focusing on the staff's role in preparing deposit items for clearing, dealing with lost or damaged items, and procedures for sorting and forwarding clearing items.

CLR02: CHECK PRESENTMENT - Fed Rules

Credit union members (and the credit union itself) write share drafts or checks from their accounts at the credit union. A check or share draft is an order or instruction from the accountholder to the credit union to pay a specific amount of money from their account to the payee of the check. How the money gets from the account at the credit union to the payee's account is what this program is all about.

CLR03: CHECK RETURNS - Fed Rules

This program reviews procedures for dealing with check returns: returns of share drafts written by our members and returns of items our members deposited. Returns of both share drafts and deposited items must be handled very quickly. The program examines why, and how to avoid losses to the credit union.