The “Mayberry” Credit Union: Why AUB Employees Credit Union Proves That Personal Touch Still Wins in Modern Banking
In an era where banking is dominated by facial-recognition apps, automated chatbots, and sterile online portals, it is easy to assume that technology is the only way forward for financial institutions. But if you take a walk down the hallway to AUB Employees Credit Union in Athens, Tenn., you’ll find a powerful, thriving reminder of […]
Good News for Volunteers: NCUA Updates Board Member Reimbursement Rules
Serving on a credit union board takes time, dedication and heart. But for many talented individuals—especially parents and caregivers—the personal cost of volunteering can sometimes be a barrier. To help change that, the National Credit Union Administration (NCUA) has issued a final rule that makes volunteer service more accessible and family-friendly. What’s Changing? Under the […]
Association Benefits—A Guide to Compliance Resources
Every day on the frontline, credit unions do an incredible job serving members and keeping their finances secure. But behind every transaction, account opening and member conversation, there is a complex web of rules that credit unions must follow. The Tennessee and Mississippi Credit Union Association provides credit unions and their staff with a powerful […]
Recruit Qualified Job Candidates with CreditUnionCareer.com
For many industries, hiring season typically occurs during the beginning of the year and late summer and early fall. As we approach peak hiring season between September and October, the Tennessee and Mississippi Credit Union Association would like to ensure our financial cooperatives are taking advantage of the go-to job board—CreditUnionCareer.com. As part of your […]
NCUA Succession Planning Rule Goes Into Effect Jan. 1
Last December, the National Credit Union Administration (NCUA) released a final rule on succession planning, amending parts 701 and 741 of NCUA’s regulations. The new rule requires both consumer federal credit unions and consumer federally-insured, state-charted credit unions to establish written succession planning, effective Jan. 1, 2026. Final Rule to Reduce Unplanned Mergers Lack of […]
Five Takeaways from America’s Credit Unions Compliance and Risk Management Council Conference
Recently, I attended the America’s Credit Unions Compliance and Risk Management Council Conference in San Antonio, Texas. We heard from key speakers on regulatory advocacy, subject matter experts on fraud and fair lending, and well-known attorneys on current litigation trends. Here were my top five takeaways: CFPB Priorities The CFPB isn’t issuing new regulations or […]
Credit Unions Exempt from Tennessee Transfer Tax
Did you know? Credit unions are exempt from the Tennessee transfer tax of $0.37 per $100 on real property that a credit union purchases. Realty Transfer TaxThis is a tax you pay when you transfer ownership of real estate (like a house or land) from one person or entity to another. Indebtedness TaxThis separate tax applies […]
Elder Financial Exploitation Reporting Update
Elder financial exploitation remains a critical concern. In its latest advisory, the Financial Crimes Enforcement Network (FinCEN) reported that financial institutions nationwide identified $27 billion in suspected elder financial exploitation. On average, banks and credit unions file 15,993 Suspicious Activity Reports (SARs) related to elder financial exploitation each month. In Tennessee, the Tennessee Credit Union […]
How to Correctly Display the NCUA Share Insurance Disclaimer for Teller Stations and Pods
Ensuring compliance with the National Credit Union Administration (NCUA) regulations is critical for credit unions. One key requirement is prominently displaying the NCUA Share Insurance disclaimer. This article explores the best practices for adhering to this regulation, particularly in credit unions with traditional teller stations and modern teller pods. Understanding the NCUA Share Insurance Disclaimer […]
The Rise of Check Fraud in the Southeast: What Credit Unions Need to Know
Check fraud is rising across the Southeast, creating challenges for financial institutions and their members. In Tennessee alone, the Federal Trade Commission (FTC) received approximately 86,000 fraud-related complaints in 2023, with reported financial losses totaling $133.6 million. Additionally, the FBI reported that Tennessee residents lost over $160 million to internet scams last year, highlighting the […]