TITLE 12 - BANKS AND BANKING

CHAPTER VII - NATIONAL CREDIT UNION ADMINISTRATION

SUBCHAPTER A - REGULATIONS AFFECTING CREDIT UNIONS

PART 749 - RECORDS PRESERVATION PROGRAM AND RECORD RETENTION APPENDIX

749.1 - What are vital records?

Vital records include at least the following records, as of the most recent month-end: (a) A list of share, deposit, and loan balances for each member's account which: (1) Shows each balance individually identified by a name or number; (2) Lists multiple loans of one account separately; and (3) Contains information sufficient to enable the credit union to locate each member, such as address and telephone number, unless the board of directors determines that the information is readily available from another source.

  (b) A financial report, which lists all of the credit union's asset and liability accounts and bank reconcilements.

  (c) A list of the credit union's financial institutions, insurance policies, and investments. This information may be marked permanent and stored separately, to be updated only when changes are made.