Credit Union Department Newsletter, Number 02-13, February 2013 Page: 2
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Handling Complaints Against Credit Union Management or Directors
From time to time the Department receives allegations of improper activity against a credit union's
management or board of directors. While these complaints are generally unfounded, occasionally they
have led to discovery of fraud. As a regulator, the Department cannot ignore allegations that, if true,
could affect the safety and soundness, or seriously impair the reputation, of an institution.
The Department has a responsibility to review these complaints carefully, whether they are from an
anonymous source or from an identified party.
The credit union is given an opportunity to respond to any allegations in the complaint. Depending on
the nature of the complaint, the Department may contact the CEO for a response or it may send the
complaint directly to the credit union's board of directors for investigation. Alternatively, the
Department may conduct its own investigation or require the credit union to bring in a third party to
investigate.
No one likes to be accused of misconduct, but credit unions should make a good faith effort to
investigate and address the allegations sufficiently to satisfy the Department that the complaint has
been addressed or is without merit. Credit unions often ask the identity of the complainant or file Public
Information Act requests for this information. To date, the Office of the Attorney General has
determined that the identity of the complainant is confidential under Texas Finance Code Section
126.002.
Operating Fee
The invoices for the second installment of the Operating Fee for Fiscal Year 2013 will be mailed to credit
unions the week of February 25th. The assessment must be received on or before March 30, 2013 to
avoid the payment of any penalties. If you do not receive an invoice, please contact Isabel Velasquez at
(512) 837-9236.
Publication Deadlines
In order to meet the submission deadlines for the applicable issues of the Texas Register, it is necessary
for the Department to establish the schedule included below. Completed applications received after the
deadline for the month cannot be published until the following month.
Publication Date Application Deadline
March, 2013 Friday, March 15
April, 2013 Friday, April 12yebrua~ry 2013 JWSL23T~ER Page 2
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Texas. Credit Union Department. Credit Union Department Newsletter, Number 02-13, February 2013, periodical, February 20, 2013; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth415053/m1/2/: accessed July 17, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.