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Here’s something I ran across last week that I thought might be a good reminder:
Do you advertise your dividend-bearing term share accounts as “Certificate of Deposits” on your website? If so, it is time to make a change. It is important to use the correct terminology when advertising these types of accounts.
Truth in Savings states that dividend-bearing term share accounts should not be advertised as “CDs” or “certificate of deposits.” Instead, credit unions should advertise these types of accounts as “share certificates” or “certificate accounts.” So take a second and check your website to make sure you are using the correct terminology.
(A quick plug)
I am often asked what I find to be the most commonly overlooked compliance issues on credit unions’ websites. So, in the spirit of the New Year and a fresh start, PolicyWorks is presenting a webinar on the three most commonly overlooked compliance issues, with respect to credit union websites. The webinar will be presented by yours truly this Thursday, January 26, and the cost is only $99. So if you’re wondering if your credit union’s website is ready for 2012, I urge you to join us.
Register Here!
Have a great week!
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