NEW YORK—The National Federation of Community Development Credit Unions has introduced a new Technical Assistance program for credit unions.
The program includes a free Technical Assistance hotline for Federation members of less than $10-mlllion in assets, and fee-based consulting services, discounted for Federation members.
The Federation stated the hotline can help small credit unions prepare for an upcoming exam, address issues identified in a prior exam, develop policies or help with general trouble-shooting.
Some of the specific topics can include:
- Bank Secrecy Act and Office of Foreign Asset Control compliance and risk assessment
- Secure and Fair Enforcement for Mortgage Licensing Act requirements
- Automated Clearing House annual audit requirements
- Supervisory oversight reviews and responsibilities
- Bi-annual member verification requirements
- Abandoned property/escheat compliance
- Daily operations and accounting
The Technical Assistance Hotline number is 800-437-8711, ext. 224. The line is open on Tuesdays, 9:00 a.m. - 4:00 p.m. ET.
The fee-based Technical Assistance consulting is available to Federation member and non-member credit unions through the Federation's CU Breakthrough consulting group in the areas of:
- Reconciliation and accounting
- Compliance and audits
- Annual supervisory audits
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