InfoSight Spotlight: Record Retention channel

As it says in the Record Retention channel of InfoSight, “The purpose of record retention requirements and a record retention program is to provide a comprehensive and cost-effective way to promote effective member service by providing credit unions access to important member information. It also provides credit unions and their members protection in the event […]

As it says in the Record Retention channel of InfoSight, “The purpose of record retention requirements and a record retention program is to provide a comprehensive and cost-effective way to promote effective member service by providing credit unions access to important member information. It also provides credit unions and their members protection in the event of damage or disaster, and ensures compliance with claims, litigation and/or IRS demands. State laws provide procedural guidelines, and federal laws mandate record retention time periods. Although neither the National Credit Union Administration (NCUA) nor the [State Authority for state chartered CUs] regulate record retention, both outline provisions related to the practice of retaining records.”

Be sure you are kept up-to-date with the information in the Record Retention channel today.

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About Us

The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

LSCU Mission Statement

To create an environment that enables credit unions to grow and succeed.

LSCU Vision Statement

To be the trusted advocate and preferred source of information for credit unions.

If you need to reach us, e-mail communications@lscu.coop

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