VolCorp's Business Continuity Statement
VolCorp strives to provide continuous service to our members in the event of business interruption. VolCorp has identified critical systems/functions and has developed business continuity departmental plans to mitigate the impact of the business interruption in a variety of events such as loss of VolCorp’s office, power outages, or equipment/system failures.
VolCorp has a business recovery center (BRC) that is equipped with phones, redundant systems, computers, printers and office supplies. We have assigned positions to the facility to ensure the critical processes are not interrupted. VolCorp can switch our phone system from our main office to our BRC and critical data is sent at intervals through-out the day to the BRC.
VolCorp has a generator at our main facility and at the BRC. The generators have the capacity to power VolCorp’s regular operations if an outage occurs.
VolCorp has partnered with a third party to provide ACH services to our members (receipt and origination). The third party maintains a back-up facility equipped with redundant systems and conducts testing as part of their business continuity plan.
VolCorp’s Business Continuity Program is maintained on a regular basis. VolCorp has an assigned individual who oversees our program to ensure processes or systems are updated as necessary and meet the needs of our member credit unions.
Our Board is notified annually of the status of our Business Continuity Program and is reviewed by state (TDFI) and federal regulators (NCUA).
Security Requirements Webinar is Now Available!
We have had several questions arise due to the recent Security Agreement we mailed to our member credit unions. This webinar will attempt to answer most questions and explain why your credit union needs to secure your computer network.
Click Here for Details and to View
NAFCU Compliance Blog
CUNA News Now
Guidance on Supporting Information Suitable for Determining the Portion of a Business Customer’s Annual Gross Revenues that is Derived from Activities Ineligible for Exemption from Currency Transaction Reporting Requirements
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FFIEC Business Continuity Planning IT Examination Handbook
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Pandemic Preparedness – World Health Organization
Volunteer Corporate’s Annual Automated Clearing House (ACH) Audit Policy
VolCorp’s 2009 ACH Audit was performed as required by the provisions outlined and in accordance with the requirements of Appendix VIII of the National Automated Clearing House (NACHA) Operating Rules. VolCorp Management and Supervisory Committee review the results of all internal and external audits routinely performed on our systems and related operations. If you have any questions regarding VolCorp’s ACH Audit Policy, please contact our Marketing department at extension 3.
Print ACH Audit Confirmation
Compliance with Office of Foreign Assets Control (OFAC)
After the September 11, 2001 terrorist attack, President Bush issued an Executive Order requiring all financial institutions to immediately block any assets held in the names of individuals or organizations identified as being associated with a terrorist group and to immediately notify the Office of Foreign Assets Control.
Although the terrorist attacks have brought attention and urgency to this effort, credit unions have been responsible for identifying and blocking assets and transactions for a number of years. Credit Unions are required to enforce these sanctions and should maintain current lists of prohibited individuals and countries, and compare their members, new members, accounts and transactions against the Treasury’s list at
www.treas.gov/ofac.
We encourage you to utilize the following resources for compliance with the USA Patriot Act, OFAC, Bank Secrecy, Money Laundering and more.
Foreign Incoming and Outgoing Wires and The Office of Foreign Assets Control (OFAC)
OFAC maintains a list of foreign countries, individuals, terrorists and narcotics traffickers banned from receiving transactions. Financial institutions and their staff failing to block funds directed to banned entities face penalties such as fines and/or jail time. There are no exceptions to these rules for type or size of financial institution or transactions.
INSTRUCTIONS: When handling an incoming or outgoing transaction, it is the credit union’s responsibility to check the most recent OFAC listing to ensure the transaction originator and recipient are not banned. You may obtain updated information from OFAC’s website at
www.treas.gov/ofac. If either entity is found to be on OFAC’s list, the transaction must be blocked immediately. You must notify the originating member and notify OFAC within 10 days, as required by law.
If you need any additional information after reviewing this, call OFAC at (800) 540-OFAC (6322).
U.S. Central Credit Union’s ACH Audit Policy
The required annual audit of Automated Clearing House (ACH) rules compliance has been completed and the results of the audit indicate that as a third-party service provider, U.S. Central is in compliance with NACHA Operating Rules.
Read Official Letter
If you have any questions regarding U.S. Central’s ACH Audit Policy, please contact VolCorp’s Marketing Department at extension 3.
Your savings federally insured to at least $250,000