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How often should a credit union’s policies be reviewed by the board?
Based on guidance from the NCUA’s Examination Manual, in the section that addresses Management, the NCUA states that the credit union “should review and, if necessary, update those policies at least annually.”
Based on this guidance, we recommend that the board reviews all policies annually. All policies do not have to be reviewed at the same meeting; however, each policy should be reviewed at least annually.
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