Credit Union Department Newsletter, Number 07-12, July 2012 Page: 1
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Credit Union Department
914 East Anderson Lane
Austin, Texas 78752
Phone: 512-837-9236
Fax: 512-832-0278
Email: info@cud.texas.gov
Web Site: www.cud.texas.gov
CUD is the state agency that
regulates and supervises credit
unions chartered by the State of
Texas. The Department is
professionally accredited by the
National Association of State Credit
Union Supervisors (NASCUS)
certifying that CUD maintains the
highest standards and practices in
state credit union supervision.
Our Mission is to safeguard the
public interest, protect the interests
of credit union members and
promote public confidence in credit
unions.
Credit Union Commission
The Commission is the policy making
body for CUD. The Commission is a
board of private citizens appointed
by and responsible to the Governor
of Texas.
Members:
Thomas F. Butler, Chair
Manuel Cavazos IV, Vice Chair
Gary L. Janacek
Dale E. Kimble
Sherri B. Merket
Allyson Morrow
Rob Kyker
Gary D. Tuma
A. John Yoggerst
Next Commission Meeting
Friday, November 2, 2012 beginning
at 8:00 a.m. in the offices of CUD.ews of Interest to Credit Unions Regulated by the Credit Union Department
News etter
No. 07-12* * July 2012
Emergency Closings
The Department reminds credit unions that they have the discretion
to remain open or to close in the event of a natural disaster or other
emergency. A credit union that closes in an emergency situation
must notify the Department of its actions by any means available
and as promptly as conditions permit. Keep in mind, however, that a
credit union may not close an office for more than three consecutive
days, excluding days on which the credit union is customarily closed,
without the commissioner's written approval.
Mobile Credit Union Services
Credit unions are frequently making strategic decisions on IT
investments to leverage technology in their efforts to better serve
existing members and attract new ones in a very competitive
environment. These decisions, together with internal policies and
operations, expose the credit union to increasing operational,
reputation, and legal and regulatory risks in such areas as the
safeguarding of member information and fraud prevention. This is
particularly true with the greater use of all types of mobile credit
union services. Mobile credit union services provide greater
convenience for members as it allows them to accomplish tasks "on
the go." However, these services are not without risks. Credit
unions should ensure that their mobile credit union services are
designed and offered in a secure manner, and members are made
aware of steps they can take to protect the integrity of the mobile
credit union transactions.
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Texas. Credit Union Department. Credit Union Department Newsletter, Number 07-12, July 2012, periodical, July 2012; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth415079/m1/1/: accessed July 17, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Libraries Government Documents Department.