The $185 million Firefighters Community Credit Union in Cleveland is one of many across the country participating in Miracle Jeans Day on Wednesday. More than 40 of the 50 or so employees at the 25,000-member credit union have paid $5 for the right to go casual that day at work, and the staff so far as raised $310 for the effort to help local Children’s Miracle Network Hospitals--------Casual for a Cause
ALEXANDRIA, Va. ― The National Credit Union Administration has issued a final rule revising record preservation requirements for credit unions in the event of a catastrophic act. This rule is codified at 12 CFR 749. “Maintaining vital records is essential to the safety and soundness of any federally insured credit union’s operations and its ability to best serve members,” NCUA Chairman Kyle Hauptman said in a statement. “But NCUA, unlike other regulators, didn’t have a limit on how long records had to be kept. This led to unnecessary cost, hassle and uncertainty. This final rule will ease unnecessary and overly prescriptive preservation requirements, while ensuring that credit unions retain the critical documents needed in instances of disaster” According to the agency, the vital records preservation program rule was first created in 1972 to ensure that federally insured credit unions keep duplicate records that can be used for reconstruction purposes in the event of ...

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