Compliance

BSA compliance resources

December 15, 2009
Consult these resources for assistance with Bank Secrecy Act compliance: 2010 CUNA BSA Conference CUNA’s Bank Secrecy Act Compliance Guide CUNA’s e-Guide to Federal Laws and Regulations FFIEC BSA/AML Examination Manual Financial Crimes Enforcement Network Office of Foreign Assets Control SAR Activity Review: " By the Numbers " and " Trends,... READ MORE

Compliance Q&A: Serving Servicemembers

December 15, 2009
By Valerie Moss Q What must a servicemember do to receive the 6% interest rate required by the Servicemembers Civil Relief Act  (SCRA)?   A In order to apply for the 6% interest rate, the SCRA requires the servicemember to provide the credit union with a written notice and a... READ MORE

Compliance Q&A: Unlawful Internet Gambling Enforcement Act

November 30, 2009
By Valerie Moss Q How can a credit union comply with Unlawful Internet Gambling Enforcement Act regulations?   A For payment systems (other than card systems), credit unions that are covered by the regulations must have written policies and procedures in place that demonstrate they are performing risk-based due diligence... READ MORE

What's a 'Disability?'

November 23, 2009
Karen Saul New ADAAA provisions reinstate a broad scope of protections. In September 2009, the Equal Employment Opportunity Commission (EEOC) approved a notice of proposed rulemaking to conform its regulations to the Americans with Disabilities Act Amendments Act (ADAAA), which became effective Jan. 1, 2009. The notice proposes changes to... READ MORE

Prepare for Overdraft Protection Rules

November 23, 2009
Valerie Y. Moss CUNA opposes legislation that could adversely affect CUs’ overdraft programs. Many credit unions offer overdraft (“bounce”) protection or “courtesy pay” programs to help members resolve short-term financial problems. These programs, when members use them appropriately, serve as a valuable alternative to overdrawing their share accounts. They can... READ MORE

Tweeters nearly double

November 23, 2009
Tweeters Nearly Double One-fifth (19%) of Internet users now use Twitter or another service to post or view status updates, according to the Pew Internet & American Life Project. That’s up from 11% in December 2008 and April 2009. Three groups of Internet users are driving the growth of this... READ MORE

Anatomy of a 'Fix'

November 23, 2009
Daniel A. Mica How things get done in Washington—and who deserves the credit. This is a political story about how things get done in Washington—and who deserves the credit. It’s also a story about the Credit Union National Association (CUNA), the leagues, and credit unions—and how the credit union movement’s... READ MORE

Tackle the 500-Pound Gorilla That is Compliance

November 09, 2009
By Steve Gibbs Implementing and monitoring compliance programs can be a daunting task—a “500 pound gorilla,” if you will. Some of us have begun to recognize the “gorilla” and look it straight in the eye. However, as any trained animal handler will tell you, once you’ve looked a beast in... READ MORE

Compliance Q&A: Unauthorized EFTs

October 27, 2009
By Valerie Moss Q Does a credit union have to follow through on its investigation of an unauthorized electronic fund transfer (EFT) if the member withdraws the allegation?   A No. The credit union can discontinue its investigation if the member voluntarily withdraws the notice alleging an unauthorized EFT. The... READ MORE

CUs Dodge 'Warning' Bullet

October 23, 2009
Michael McLain The Fed limited a troublesome CARD Act provision to credit cards. Many credit unions have had difficulty complying with the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009. The requirement that a periodic statement be provided at least 21 days prior to a loan payment due... READ MORE

The Works Blog The Works Blog is produced by PolicyWorks LLC, Des Moines, Iowa.

Navigating the Muddy Waters of Flood Insurance Reform

One of the things PolicyWorks continues to assist our credit union clients with is wading through the deep waters of mortgage regulation. As CFPB Director Richard Cordray has acknowledged, many of the business practices implemented by the January 2014 mortgage rules have long been standards credit unions have adhered to. However, a tidal wave of […]

How to Write an Effective #CommentLetter

One of my favorite things about being a part of the credit union movement is the cooperative spirit; how everyone has a voice and a chance to be heard.  A great example of this is the comment letter – whenever an agency (such as NCUA, NACHA, CFPB, etc.) issues a proposed rule, they open the […]

Prepaid Cards and the CFPB

There has been a lot of chatter lately by the CFPB about prepaid cards and payroll cards (which are generally a form of a reloadable prepaid card used by an employer). We should expect a lot more chatter by “late spring” when the CFPB issues proposed rules. The CFPB issued two versions of model forms in […]
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Great article! Unfortunately, most employees don’t feel valued or appreciated by their supervisors or employers. In fact, research has shown that the predominant reason team members quit their jobs is because they don’t feel valued. This is in spite of the fact that employee recognition programs have proliferated in the workplace – over 90% of all organizations in the U.S. has some form of employee recognition activities in place. But most employee recognition programs are viewed with skepticism and cynicism – because they aren’t viewed as being genuine in their communication of appreciation. Getting the “employee of the month” award, receiving a certificate of recognition, or a “Way to go, team!” email just don’t get the job done. How do you communicate authentic appreciation? We have found people have different ways that they want to be shown appreciation, and if you don’t communicate in the language of appreciation important to them, you essentially “miss the mark”. Additionally, employees need to receive recognition more than once a year at their performance review. Otherwise, they view the praise as “going through the motions”. A third component of authentic appreciation is that the communication has to be about them personally – not the department, not their group, but something they did. Finally, they have to believe that you mean what you say. How you treat them has to match the words you use. If you are not sure how your team members want to be shown appreciation, the Motivating By Appreciation Inventory (www.appreciationatwork.com/assess) will identify the language of appreciation and specific actions preferred by each employee. You then can create a group profile for your team, so everyone knows how to encourage one another. Remember, employees want to know that they are valued for what they contribute to the success of the organization. And communicating authentic appreciation in the ways they desire it can make the difference between keeping your quality team members or having a negative work environment that everyone wants to leave. Paul White, Ph.D., is the co-author of The 5 Languages of Appreciation in the Workplace with Dr. Gary Chapman.

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