Secret Service to Make Guest Appearance at CU*Answers Collections Roundtable Discussion

CU*Answers, the 100% credit union-owned cooperative CUSO, recently announced that the United States Secret Service will be making a guest appearance at its next Collections Roundtable discussion. The roundtable events, held at CU*Answers’ corporate headquarters in Grand Rapids, Michigan, allow credit union staff to meet with CUSO representatives to discuss the changing collections environment, and to share best practices and tips for using the CU*BASE® core platform.

The event is scheduled to take place November 14. Members of the Secret Service will address the gap between the FBI threshold of one million dollars cash loss and how credit unions can work with them on losses less than that amount. Credit unions will also learn about recent revisions to NCUA Rules and Regulations Part 741, which relates to loan workouts and nonaccrual policy, as well as the regulatory reporting of troubled-debt restructured loans. The CUSO added that the Collections Roundtable events are held quarterly with opportunities for credit unions to attend either in the morning or the afternoon.