The Pulse (07-31-13)
July 31, 2013 ● Volume 02, Issue 30
View 07-31-13 issue of The Pulse
PolicyAid adds to CU policy list to reflect new, amended regulations
Changes to the laws and regulations affecting credit unions are frequent. With that comes the need to continually amend or create new policies.
That's why the Minnesota Credit Union Network partnered with PolicyAid last year to provide credit unions a comprehensive, online policy library that helps them develop and maintain internal policies. This resource provides credit unions sample policies they can use to ensure compliance with current rules and regulations.
The PolicyAid documents are updated on a quarterly basis and reflect any new and amended regulations. These policies are available in Word format, allowing credit unions to adapt them to fit their needs. As of July 22, the following were added or updated in the online policy manual:
- Ability to Repay/Qualified Mortgage Lending Policy (new)
- Participation Loan Policy (updated)
- Appraisal and Evaluation Policy (updated)
- Equal Credit Opportunity Act Policy (updated)
- Real Estate Lending Policy (updated)
- Real Estate Settlement Procedures Act Policy (updated)
- Safe Act Policy (updated)
- Safe Act Procedures (updated)
With questions or for more information on PolicyAid, contact MnCUN Vice President – Network Service Corporation John Ferstl by email or call (651) 253-5505.
CUs help CUNA Mutual raise $10K for charity with Go Paperless campaign
Nearly 2,100 credit unions signed up for CUNA Mutual Group’s Go Paperless campaign to help the environment and raise money for the National Credit Union Foundation (NCUF). This initiative will save 750,000 pages of paper annually – the equivalent of 90 trees – and it generated a $10,450 contribution from CUNA Mutual Group to the NCUF.
CUNA Mutual agreed to donate $5 to the NCUF for every credit union that signed up for paperless policy delivery from May 1 to June 30. As a strong "green” advocate, CUNA Mutual Group launched the campaign to reduce waste, save money and take another step toward environmental sustainability.
"We surpassed our goal by getting 2,090 credit unions to sign up for paperless policy delivery, which was 90 more than our target,” said Jennifer Norr, director of customer operations. "Although the campaign is over, we encourage our remaining credit union customers to sign up. It’s better for our environment, our customers and our company.”
A CUNA Mutual Group policy package averages 264 pages. With 6,000 credit union policies in force, the total number of printed pages can exceed 1.5 million per year. The company began making policies available online in 2012.
CUNA Mutual Group insurance, retirement and investment products provide financial security and protection to credit unions and their members worldwide. For more information on CUNA Mutual Group and its products and services, contact MnCUN Director of Business Development Vickie Ganrude by email or call (651) 288-5515.