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4 key takeaways for NCUA fidelity bond compliance

December 17, 2020

first_imgLast October, the NCUA rolled out policy changes that increased bond oversight responsibilities of a credit union’s board of directors. To keep your credit union informed and compliant, we’ve put together 4 main takeaways:A credit union’s board of directors must annually review bond coverage.This will help ensure that coverage meets the minimum requirements set by the NCUA Board.A credit union’s board of directors must also do the following on an annual basis:Review all applications for purchase or renewal of fidelity bond coverage.Pass a resolution approving the purchase or renewal.Sign off on the purchase or renewal agreement and all attachments. continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

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