Comments Due to NAFCU: National Credit Union Administration - Joint Ownership Share Accounts
NAFCU would like to highlight the following:
- The proposal provides an alternative method to satisfy the membership or account signature card requirement.
- According to the alternative method, membership or account signature card requirements may be satisfied by information found in account records establishing the joint share account. Information in account records can take many forms, including the availability of an access mechanism for each co-owner or use of the share account by each co-owner.
- This proposal provides parity with bank regulations for joint accounts.
Comments due to NAFCU: July 3, 2020
Comments due to NCUA: July 6, 2020
NAFCU will send comments on behalf of its members to the NCUA by their deadline (July 3, 2020).