CU PolicyPro Operations Manual Semi-Annual Release 2008.1

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					    CU PolicyPro
  Operations Manual

Semi-Annual Release 2008.1
           June/July 2008

      Veronica Madsen – General Counsel
  Mary Ann Koelzer – Technical Product Manager
                         Revised Sections
•   1150 – Field of Membership
    Policy was amended to add in verification of membership eligibility information and the “once a
    member, always a member” information.

•   1200 – Organization
    Election procedure information was added along with a new key field variable.

•   1210 – Compensation and Reimbursement
    New title: “Compensation, Reimbursement and Indemnification.” Information regarding
    indemnification was added.

•   NEW 1235 – Education & Volunteer Training Guidelines
    Education and training guidelines that were contained in the old “Compensation and
    Reimbursement” policy was made into a separate, new policy.

•   1300 – Audits
    Policy was amended to include the specific audit requirements associated with credit union asset

•   1615 – Privacy
    New definitions and the required content of both the annual privacy and opt out notices were
    added.                                                                                            2
                       Revised Sections
•   2110 – Bank Secrecy Act
    An additional line was added in the training subsection to reflect the training
    requirement for board and committee members.

•   2190 – Disaster Contingency Planning
    Two new contingency considerations were added.

•   2212 – Individual Retirement Accounts
    Share insurance and record retention considerations were added.

•   2270 – Safe Deposit Boxes
    The wording of this policy was amended to reflect “must” and “will” instead of

•   2280 – Share Insurance
    Policy was amended to include: requirements for excess share insurance; additional
    member education content; the official sign; and advertising rules.

                      Revised Sections
•   2300 – Share Draft Policy
    Policy was renamed “Share Draft Accounts,” and a reference to the overdraft
    protection policy was added.

•   2310 - Share Draft Telephone Inquiries (Title Updated Only)

•   2400 – Funds Availability
    Substitute check information was added to this policy.

•   2500 – Truth in Savings
    Additional information was included in this policy, including a new section on the
    advertising requirements.

•   2611 – ACH Management
    A new subsection related to bonding was added to this policy.

                         Revised Sections
•   4100 – General Security Procedures
    Information related to cash transferred by armored car, the procedures for verifying the identity of
    visitors and closing procedures were added to this policy.

•   4120 – Information Security
    This policy was re-formatted to reflect the other policies in the PolicyPro Manual. Additionally,
    policy was amended to reflect “must” and “will” instead of “should.”

•   4140 – Robbery Procedures
    Addition robbery recommendations were included in this policy.

•   NEW 4310 – Patch Management
    New policy was created to meet the regulator requirements for information security.

•   5200 – Liquidity Management
    Additional information added for liability management and liquidity crisis mechanisms.

•   6100 – General Investment Policy
    Additional information on approving issuers and non-conforming investments was added to this

                      Revised Sections
•   6110 – Broker/Dealer Relations
    Additional information regarding what will be examined in a broker-dealer due
    diligence review was added to this policy.

•   6130 – Investment Controls and Monitoring
    Policy was amended to reflect additional information regarding the monitoring of non-
    security investments.

•   6150 – Safekeeping of Investments
    A new subsection on due diligence considerations was added to this policy.

•   6200 – Investment Portfolios
    Information regarding aggregate and individual investment type limits was added to
    this policy.

•   6210 – Authorized Investments
    Additional information was added to both the authorized and unauthorized
    investments subsections.
                      Revised Sections
•   NEW 6220 – Non-Deposit Investment
    This new policy reflects NCUA Letter to Credit Unions No. 150 related to this topic
    was created in response to a credit union’s request.

•   7120 – Fair Lending
    Information, including the types of discrimination, was added to this policy.

•   7125 – Loan Application
    Additional information required by Regulation B was added to this policy.

•   7130 – Loan Authorization
    Added footnote related to credit decisions made by credit committee

•   7145 – Loan Limits
    Added footnotes related to loan limitations

•   7140 – Loan Insurance
    Policy was amended to reflect the required disclosures whenever loan insurance
    products are advertised.
                       Revised Sections
•   7160 – Loans to Insiders
    Policy was amended to define “insiders.”

•   7200 – Consumer Loans
    Policy was amended to reference the General Lending Policy.

•   7206 – Lease-Like Loans
    The issues pf forced-placed insurance, delinquency and repossession were added to
    this policy.

•   7215 – Overdraft Protection (Courtesy Pay)
    Policy was re-written to reflect the guidance and that that this account benefit will not
    be advertised (requiring additional disclosures).

•   7245 – Truth-In-Lending Disclosures for Closed-End Credit
    Policy was amended to reflect the revision to Regulation Z regarding the electronic
    delivery of disclosures.

                         Revised Sections
•   7250 - Truth-In-Lending Disclosures for Open-End Credit
    Policy was amended to reflect the revision to Regulation Z regarding the electronic delivery of
    disclosures, as well as the addition of the general disclosure requirements.

•   7255 – Unsecured Loans
    The Truth-in-Lending disclosures subsection was amended to reference both the closed-end and
    open-end disclosures policies.

•   7310 – Construction Loans
    Requirements for loan approval and when draws will be disbursed was added to this policy.

•   7330 – Residential Real Estate Loans
    Information regarding aggregate and individual investment type limits was added to this policy, as
    well as new secondary market standards. policyNCUA Letter to Credit Unions No. 124 guidance
    was added to this policy.

•   7400 – Other Types of Loans
    Policy was amended to reflect the additional policies that were added to this section. The listing
    of loans on this policy was deleted and replaced by a key field for purposes of customization.

                       Revised Sections
•   7410 – Indirect Dealer Financing
    Information contained in NCUA guidance was added to this policy regarding: due
    diligence, loan limits, loan authorization, dealer reporting information, dealer contract
    information and dealer controls.

•   7430 – Participation Loans
    The documentation requirement was added to this policy.

•   7510 – Collection Process
    The issues of the various notices, bankruptcy and legal action were added to this

•   9110 – Equal Credit Opportunity Act – Regulation B
    Additional requirements from Regulation B were added to this policy.

•   9120 – Fair Debt Collection Practices Act
    Additional information related to obtaining the debtor’s location and the validation of
    debts was added to this policy.
                      Revised Sections
•   9140 – Truth in Lending Act – Regulation Z
    Extensive changes were made to this policy. Additional information from Regulation
    Z was added.

•   9150 – Unfair and Deceptive Practices – Regulation AA
    Policy was amended to include unfair contract provisions, unfair or deceptive
    practices against co-signers and unfair late charges.

•   9200 – Home Mortgage Disclosure Act – Regulation C
    Information related to reported information and when LARs must be filed were added
    to this policy.

•   9210 – Real Estate Settlement Procedures Act – Regulation X
    Extensive information was added to reflect the provisions of RESPA.

•   9300 - Bank Bribery Act
    Amendments were made to the penalty subsection for violations of this Act.

                      Revised Sections
•   9310 – Bank Secrecy Act
    Because this policy is already contained within the manual that includes all of the
    requirements of the BSA, this policy was deleted from the Section 9000 policies.

•   9330 – Right to Financial Privacy Act
    Policy was amended to include additional information from this Act.

•   9420 – Monetary Control Act – Regulation D
    Policy was amended to reflect the current asset threshold reserve and reporting
    qualifiers, as well as the current reserve requirements.

•   9430 – Truth in Savings Act
    Policy was re-written to reflect NCUA Part 707 (Truth in Savings) requirements.

•   9500 – Americans with Disabilities Act
    Policy section on employment requirements was re-written, and now includes the
    addition of public accommodation requirements reflecting credit union obligations to
    the general public.
                       Revised Sections
•   11001 – Fair Credit Reporting Act (FACTA)
    Extensive amendments were made to this policy to reflect the requirements of the
    FACT Act.

•   11002 – Furnishing Information to Credit Reporting Agencies
    Policy was revised to include the various reporting requirement reflected in the FACT

•   11004 – Pre-Screened Offers of Credit or Insurance
    Policy re-named to clarify that it relates to pre-screened offers. Information related to
    the requirements for providing pre-screened offers of credit was added to this policy.

•   11005 – Adverse Action Based on Information Contained in Consumer Reports
    Entire policy was reorganized and additional information added.

•   10006 – Receipt of Notice of Dispute of Accuracy Information
    Policy was re-written to reflect the credit union’s duties when a notice of dispute is
                       Revised Sections
•   11011 – Disclosure of Credit Scores
    Policy was re-written to reflect the disclosure requirements related to home loan

•   11012 – Disclosure of Information to Victims of Identity Theft
    Policy was re-written to reflect the credit union requirements and process for
    disclosing transaction information alleged to be the result of an identity theft.

•   11013 – Prevention of Re-Pollution of Consumer Reports
    Policy was re-formatted to reflect the format of the other policies in the PolicyPro

                  Formatting Updates
•   The following sections had no updates; however, the formatting of the numbering was
    not set up properly in the Web Master. These sections have been updated to correct
    the numbering/sub-numbering formatting issues. There are no Word Documents
    showing these changes, this is for reference only.

•   2220 - E-Commerce
•   2610 - Automated Clearing House Operations
•   3155 - Travel Reimbursement
•   6105 - FASB 115 Compliance
•   7101 - Loans
•   7415 - Subprime Auto Indirect Lending
•   7600 - Loan Review and Classification

   Updating Your Web Manual
1. Login to your Manual (
2. Click on Manual Builder

   Updating Your Web Manual
3. Click the Open button to open your Manual

     Updating Your Web Manual
4. Archive any existing sections that have been revised in the update.
5. To do this locate the desired section in the table of contents on the left
   side of the screen.

    Updating Your Web Manual
6. Click on that section and then click on the Move to Archive button
   located at the bottom of the Table of Contents

    Updating Your Web Manual
7. Once you have archived any desired sections you are now ready to add
   the new and revised sections from the Semi-Annual Update.
8. To do this click on the OPS Master manual as seen below

    Updating Your Web Manual
9. Locate the desired section to add into your manual. When you click on the
   section and the text populates the word processor, click on the Add
   Selected button at the bottom of the Table of Contents

     Updating Your Web Manual
10. The new/revised section will now be added in its entirety into your Working
11. There may be policies that you want to update, but you have already
    customized for your credit union. For these policies, you need to make a

        A. Use the Tracked Changes documents from the library as a guide to
        incorporate the new changes into your existing customized policies
        B. Archive your customized policies, bring in the revised policy in its
        entirety, then re-customize it with your credit union information

    Which way you decide will depend on how many revisions the policy has,
      and how much customization you have already done.

Updating Your Web Manual


    Updating Your Word Manual

•   The Semi-Annual Updates are available to download through an online
    link for Word Users.
•   All OPS Manual – Word subscribers are sent an email with login rights
    and instructions to access the files.
•   Before updating your Operations Policy Manual in MS Word format
    review the Revised policies in the update.
•   Compare them with the existing policies in your manual. If there are any
    of the revised policies that you plan on updating but would like to keep
    the existing policy as a backup follow the directions to Archive in MS

    Updating Your Word Manual
                  Directions to Archive in MS Word

1. Open your OPS Manual and scroll down to the section you would like to
2. Highlight the entire section by clicking your left mouse button at the section
   title and dragging it all the way to the end of the section.
3. Once highlighted go to the Edit menu and choose Copy.
4. Open a new Word document by going to the File menu and choosing New.
5. When the new document appears go to the Edit menu and choose Paste.
   The section will now appear in this new document.
6. Go to the File menu and choose Save As.
7. In the Save As dialog box save the document as “Section XXXX
   ARCHIVE.doc” where the X’s determine the section number. Save the
   document in your My Documents folder.
8. If you need to revert to the former section for any reason you can open this
   file and copy the contents back into your OPS Manual.
     Updating Your Word Manual
1. Open your Operations Manual, find the spot where you want to add the new
   policy, place the cursor on the last line of the page.
   For instance, to add new policy 6220 (Non-Deposit Investment) go to the
   section prior to where the new policy will reside. In this case that would be
   Section 6210 so place the cursor at the end of the section. Minimize the
   window when you have done so.

                           Place cursor at the end of the
                             section prior to where the
                                   update will go

     Updating Your Word Manual
2. Open the new policy, place your cursor at the beginning of the policy and
   click CTRL+A to highlight the entire page. Once it has all been highlighted
   as below go to the Edit Menu and choose Copy. Minimize the window.

     Updating Your Word Manual
3. Go back to your Operations Manual go and choose Paste from the Edit
   menu or by using the right click function. This will paste the new policy
   into the spot that you designated in step 1.

     Updating Your Word Manual
4. Go to the beginning of the new policy, place your cursor directly above it
   (just above the dividing line of the title).

                                               Between the end of the old
                                               policy and the beginning of
                                               the updated or new policy

    Updating Your Word Manual
5. Next, go to the Insert Menu and choose Break. In the dialog box click the
   radio button next to Next page under Section break types and then click
   the OK button.
6. This will move the new policy to a new section page.

     Updating Your Word Manual
7. Go to the footer of this page by scrolling down to the end of the first page of
   that section. You will notice that it shows the previous section’s title and
   page number.

     Updating Your Word Manual
8. To change this to the new section double click right on top of the footer. The
   header/footer toolbar will appear.

    Updating Your Word Manual
9. Click on the icon in the header/footer toolbar that reads Link to Previous
   when you place your cursor on it.

10. Click on this icon once so that it is no longer highlighted in orange. The
   footer for the new/updated section is now independent of any other footers.

     Updating Your Word Manual
11. Now highlight the section name in the footer

12. Type in the name of the new section. Next, go to the far right of the footer
   and change the section number ONLY to the new section number (do not
   change Page or the -1 after as the page number format does not need to
   change). Click the Close button on the Header and Footer toolbar when

     Updating Your Word Manual
13. If you are adding in additional new or revised sections into your manual just
   follow the above steps. Once you have made all your changes, save the

Updating Your Word Manual


      Thank You for Attending Our
If you have any questions regarding the information that was presented today
                        please feel free to contact us.

                             Veronica Madsen
                            (800) 262-6285, x461

                             Mary Ann Koelzer
                            (800) 262-6285, x581

                              Jeremy Rundell
                            (800) 262-6285, x586


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