Streamline process of adding SEGs to FOM Rules
Introduction
This guide provides the process for credit unions and their Select Employee Groups (SEGs) to add SEGs to their Field of Membership (FOM) rules. Ensuring a streamlined experience and adherence to compliance standards of the NCUA
Step 1: Submitting the SEG Application
Begin the process with the digital SEG application, which can be initiated by either the SEG directly or by the credit union on behalf of the SEG via the link on the CUCollaborate software.
Organization Information: Upon entering the organization's name, relevant fields will automatically populate if the organization exists in our database. Manual entry is required for organizations not previously recorded or not in our database.
Contact Information and Signature: Complete the application with details of the responsible contact, typically a senior executive like the CEO, include a digital signature, and submit.
Step 2: Preparing the Application for NCUA Submission
Review on SEG Dashboard: Check all details on the application and confirm the proposed FOM wording. The 'Details' tab will also guide you through the necessary steps to complete the SEG application. After board approval of adding the group, download the NCUA Form 4015 and the Request Letter or use CAPRIS guide.
Automated Document Generation: The software automatically generates a pre-filled NCUA Form 4015 and a Request Letter, tailored to the specific details of the SEG.
Submission through CAPRIS guidance: For credit unions with fewer than 3,000 members, refer to the CAPRIS Submission Guide, which provides a detailed step-by-step process and data required for submission via CAPRIS, facilitating easy copy and paste of information.
Step 3: Integration After NCUA Approval
Following NCUA's approval, the integration phase begins:
Marking Approval: Update the application status to 'Approved' in the SEG Dashboard.
Automatic Rule Addition: The system will automatically incorporate the new FOM rule.
Utilization in Software Tools: The newly added rule is utilized in mapping software and the FOM eligibility survey (JoinCU) to validate potential members efficiently.
Conclusion
This updated process not only simplifies the addition of SEGs to FOM rules but also ensures that all steps are compliant with regulatory requirements and are executed with minimal manual intervention.
For additional support or queries, please contact the Account Management team at AM@CUCollaborate.com or (202) 831-2500!
This guide provides the process for credit unions and their Select Employee Groups (SEGs) to add SEGs to their Field of Membership (FOM) rules. Ensuring a streamlined experience and adherence to compliance standards of the NCUA
Step 1: Submitting the SEG Application
Begin the process with the digital SEG application, which can be initiated by either the SEG directly or by the credit union on behalf of the SEG via the link on the CUCollaborate software.
Organization Information: Upon entering the organization's name, relevant fields will automatically populate if the organization exists in our database. Manual entry is required for organizations not previously recorded or not in our database.
Contact Information and Signature: Complete the application with details of the responsible contact, typically a senior executive like the CEO, include a digital signature, and submit.
Step 2: Preparing the Application for NCUA Submission
Review on SEG Dashboard: Check all details on the application and confirm the proposed FOM wording. The 'Details' tab will also guide you through the necessary steps to complete the SEG application. After board approval of adding the group, download the NCUA Form 4015 and the Request Letter or use CAPRIS guide.
Automated Document Generation: The software automatically generates a pre-filled NCUA Form 4015 and a Request Letter, tailored to the specific details of the SEG.
Submission through CAPRIS guidance: For credit unions with fewer than 3,000 members, refer to the CAPRIS Submission Guide, which provides a detailed step-by-step process and data required for submission via CAPRIS, facilitating easy copy and paste of information.
Step 3: Integration After NCUA Approval
Following NCUA's approval, the integration phase begins:
Marking Approval: Update the application status to 'Approved' in the SEG Dashboard.
Automatic Rule Addition: The system will automatically incorporate the new FOM rule.
Utilization in Software Tools: The newly added rule is utilized in mapping software and the FOM eligibility survey (JoinCU) to validate potential members efficiently.
Conclusion
This updated process not only simplifies the addition of SEGs to FOM rules but also ensures that all steps are compliant with regulatory requirements and are executed with minimal manual intervention.
For additional support or queries, please contact the Account Management team at AM@CUCollaborate.com or (202) 831-2500!
Updated on: 02/05/2024
Thank you!