Compliance

Reg Z Revisions Keep Coming

September 23, 2009
Nichole Seabron Changes affect fees, disclosures, and advertising. The Federal Reserve Board’s revisions to Regulation Z (Truth in Lending) definitely will affect how your credit union does business—in both major and minor ways. It’s worth taking a closer look at two amendments in particular: the changes under the Mortgage Disclosure... READ MORE

One of 10 Robberies Targets CUs

September 23, 2009
Among the 1,278 financial institution robberies during the second quarter of 2009, 117 occurred at credit unions, according to statistics from the Federal Bureau of Investigation (FBI). That’s far less than banks suffered during this period (1,124) but more than thrifts (26) and mutual savings banks (11). Cash was taken... READ MORE

Compliance Q&A: Adverse Action Notices

August 27, 2009
By Valerie Moss Q Must a credit union provide an adverse action notice under Regulation B when it turns down a business loan application?   A Yes . Regulation B (Equal Credit Opportunity) applies to all credit—commercial as well as consumer loans. However, if two or more people have applied... READ MORE

Manage the Risks of Remote Deposit Capture

August 25, 2009
Valerie Moss The focus today is on extending RDC to consumers. Remote deposit capture (RDC) refers to a range of services that allow users to scan checks/share drafts at remote locations and transmit the scanned images to financial institutions for posting and clearing. Locations may include the credit union’s branches... READ MORE

Corporate Stabilization Revisited

August 25, 2009
Jim Jerving New legislation ‘eases the pain’ and boosts CU ROA. Turbulence within the corporate credit union system and the effects on retail credit unions were dominant topics at the Credit Union National Association’s (CUNA) Governmental Affairs Conference (GAC) earlier this year. In May, passage of S. 896, the Helping... READ MORE

Staying at the Table

August 25, 2009
John Magill Poorly prepared legislation can have unintended consequences. This is a time of unprecedented change in America’s financial services sector. Credit unions, despite wearing the “white hats” through the financial crisis of the past year, have not been—and will not be—completely insulated from the aftermath of the financial collapse.... READ MORE

Regulatory Onslaught Just Won't Let Up

July 20, 2009
Relentless torrent of new regulations creates concern and confusion. Bill Klewin The surge in regulatory compliance issues continues, especially in the lending area. Given what the nation is going through, triggered by shoddy lending practices, the greater regulatory regimen is appropriate. Regulators and legislators in Washington, D.C., however, are tripping... READ MORE

Regulatory Storm Intensifies

July 20, 2009
  Key concerns will continue to dominate the regulatory landscape. Mary Dunn Working in the Credit Union National Association’s (CUNA) Washington office lately has been like being in the vortex of a hurricane. The issues keep swirling as the regulatory storm intensifies. While CUNA follows virtually all issues affecting credit... READ MORE

Negotiate Letters of Understanding and Agreement

July 20, 2009
Due diligence applies to agreements with regulators, too. Christopher Pippett Typically you might think of due diligence review as applying only to vendor relationships. However, you also should thoroughly analyze the formal agreements you might have to enter into with the National Credit Union Administration (NCUA) or your state regulator... READ MORE

Study Cites Top CU Challenges

July 20, 2009
LEAD STORY  Attracting new members, dealing with the economy, retaining current members, and adapting programs to new technology are the biggest challenges facing credit unions. So says a survey conducted by Credit Union 24, Tallahassee, Fla. It examines successes and competitive challenges credit unions currently face. The top challenges credit... 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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