Who Knew?; Vegas
I had a great opportunity last week to speak with a number of attorneys who work for NCUA's Office of General Counsel. I asked them what was the most common question to come across their desks on a typical day. Their answer was unanimous.
Share insurance. That's right. Share insurance. They get a ton of calls from credit unions staff and members asking the same question. Are the funds in a given account insured?
This sounds like an area where front-line staff could use some help. Here are some NCUA resources that might be useful:
NCUA's Share Insurance Page. This webpage is a great starting point for share insurance-related questions.Â
NCUA's Share Insurance Estimator.  This webpage links to a tool that allows staff or members to estimate how much share insurance coverage applies to a given account.
NCUA Insurance of Special Accounts. This page answers questions such as: "What is the insurance coverage on a trust account held under the provisions of an irrevocable express trust?"
Your Insured Funds. This 48-page document is a must read for anyone who wants a good understanding of NCUA's share insurance program.
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I mentioned earlier that I'll be in Las Vegas this Friday, as NAFCU will host a free educational session. The event is open to all credit unions. What will I cover?
- New FACT Act Rules
- BSA Update
- OFAC and Beneficiaries
- Pandemic Planning Expectations
- Catastrophic Acts/Record Retention
- Member Access to Records
- Working with Third Parties
- Regs B, E, M, Z, DD and Electronic Disclosures
- Reg Z Proposal to Open Ended Lending
- Other Lending Proposals
- Recent NCUA legal opinion letters
- Reg D
Yes, I plan on speaking quickly.Â
When: Friday, February 29, 2008
What Time: 8:30 â 12:00 noon
Where: Planet Hollywood Resort & Casino, Las Vegas, NV
Visit this link for additional details, including how you can sign up. I hope to see you there!