'Are Your Members' Accounts Properly Structured to Maximize Their Share Insurance Coverage?' Webinar Set for Aug. 13 by Credit Union National Association

WASHINGTON, July 19 (TNSeve) -- The Credit Union National Association has scheduled a webinar on Aug. 13, 2021, entitled "Are your Members' Accounts Properly Structured to Maximize their Share Insurance Coverage?":

According to the agency website:

All federally chartered credit unions must be federally insured, and most states require their state-chartered credit unions to maintain federal insurance. Share insurance coverage becomes important in the unlikely event that the credit union is liquidated. Generally, properly established member accounts (share, share draft and share certificates) are added together and insured up to $250,000. This may sound simple, but the rules are far more complicated. Credit union staff must understand these rules to help members properly structure their accounts to maximize their share insurance coverage.

Learning objectives:

* Explore the various share insurance rules that apply to: individual accounts, joint accounts, trust accounts, POD accounts, business accounts, IOLTA accounts and more

* Learn how to calculate and maximize your members' share insurance coverage

* Review NCUA's share insurance regulations, including notice to members, official advertising statement, recordkeeping and reporting

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The 1-hour event features speaker Colleen Kelly.

Colleen Kelly is the Senior Federal Compliance Counsel in CUNA's Compliance Department. She analyzes regulations to determine their impact on the operations of credit unions and provides compliance information and guidance to credit unions through CUNA's online Compliance Community, CompBlog, NewsNow, eGuide to Federal Laws and Regulations, cucomply, Credit Union Magazine, and other resources. She works closely with CUNA's Professional Development staff to provide educational products and programs to support credit unions' compliance efforts, and provides support to CUNA's lobbyists on consumer legislation.

Ms. Kelly has worked at CUNA for over 20 years, not only in compliance but in legislative and regulatory advocacy as well. Prior to joining CUNA, she worked for both the Colorado Credit Union League (now the Mountain West Credit Union Association) and the Washington Credit Union League (now the Northwest Credit Union Association).

Ms. Kelly has, and continues, to provide volunteer support to several low income legal and counseling centers in the Washington DC area, such as, the Mental Health Association of Montgomery County, the Commission for Women, the American Foundation for Suicide Prevention, Advocacy for the Elderly, and Junior Achievement's financial literacy programs.

Ms. Kelly received her bachelor's degree in economics from the University of Colorado in Boulder, and her law degree from The Catholic University of America in Washington, DC.

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More information about the event can be found at https://www.cuna.org/Shop/Meeting-Detail/?productId=351485824

[Category: BankingEvent]