regulatory and compliance issues and considerations

Conference and Seminar Costs
Fees for attendance at conferences, conventions, and educational seminars attended by officials
and employees of Sample Credit Union are to be approved in advance. These fees are not a part
of this policy. Travel, lodging, and other reimbursable expenses incurred while attending these
functions are to be submitted for reimbursement on a credit union expense report immediately
upon return from such an event using the guidelines set forth in this policy.
Use Of Credit Union Credit Card
The Credit Union’s corporate credit card is the preferred form of payment for all
business-related expenses at the credit union and all officials and employees
who generate regular business expenses on behalf of the credit union should
participate in its card program. All transportation, car rental, hotel, meal, and
entertainment expenses should be charged to the corporate card whenever
possible. The corporate card is for official use only. Use of the Credit Union’s
Credit Card is otherwise governed by the Credit Union’s Credit Card Policy and/or
any agreements or condition of the Credit Union associated with such.
When completing the expense report for reimbursement, the term “business purpose” should be
indicated on the report.
Transportation Expense
When combining business and personal travel, approval must be made in advance and the
expense report should indicate only those business expenses that are reimbursable.
When planning business trips, the cost of renting an automobile should be compared to the cost
of taxis and airport shuttles to determine whether automobile rental is justified. Taxi and airport
shuttle expenses are reimbursable when used in conjunction with business and receipts (if in
excess of $10) are attached to the expense report. Parking and tolls require original receipts
when either exceeds $10 in one day. Automobile mileage for travelers who are required to use
their personal cars from time to time in the efficient performance of their duties will be
reimbursed at a rate not to exceed the published IRS reimbursement rate per mile.
Lodging Expense
Lodging expenses will be reimbursed when a copy of the hotel charges is attached to the expense
report.
Meal Expense
Personal meals are reimbursable expenses defined as meal expenses incurred when dining alone
on an out-of-town business trip or when dining with another credit union official while on
Copyright©1994-2010 by Credit Union Resources & Educational Services, LLC. All rights reserved.
Revised February 2010
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