regulatory and compliance issues and considerations

public, even though, such relatives or companies may do business with ABC
Federal Credit Union or its CUSOs.
4. DIRECTORSHIPS. If employees (or members of their immediate families) serve
as directors of any business corporations, or any non-profit corporations or
associations, then such relationships must be disclosed as provided in Section VI
below. No employee of ABC Federal Credit Union or any CUSO, may agree to
serve as a director of any business corporation or any non-profit corporation or
association that does business with the Credit Union, unless such service has
been approved by the Ethics Committee.
5. TRUSTEES AND FIDUCIARIES. If employees serve as trustees or fiduciaries
(executor, administrator, guardian, etc.), then such relationships must be
disclosed as provided in Section VI. No employee may agree to serve as a
trustee or fiduciary unless such service has been approved in advance by the
Ethics Committee. Service as trustee or fiduciary in connection with family
relationships will normally be approved.
6. RELATIVES. Relatives of persons associated with ABC Federal Credit Union
and any of its CUSOs, are encouraged to become members of the bank. No
employee may make decisions or represent the bank in matters involving loans
to relatives, or investment of ABC Federal Credit Union or any CUSO’ funds with
relatives, or purchasing goods or services from relatives.
7. HIRING RELATIVES OF CURRENT EMPLOYEES. No person who is related by
blood or marriage to any officer, director or employee of ABC Federal Credit
Union or any CUSO may be employed by the Credit Union unless any such
relationship has been disclosed to approved by the Ethics Committee.
F. Disclosure of Possible Conflicts of Interest
Potential conflicts of interest must be identified so they can be avoided. Accordingly,
employees must disclose potential conflicts of interest, including those in which they are
placed inadvertently because of business or personal relationships with ABC Federal
Credit Union or any CUSO, members, suppliers, business associates or competitors.
Facts about possible conflicts of interest should be disclosed to the Ethics Committee
as they arise. Questions should be addressed to the Ethics Committee. Disclosures of
potential conflict of interest will be kept by the Personnel Officer.
V. BUSINESS INFORMATION IS CONFIDENTIAL
A. Business Information May Not Be Disclosed
Information about ABC Federal Credit Union and any/or of its CUSO’s business and
information supplied to ABC Federal Credit Union and/or any of its CUSOs by its
members (including prospective members) and suppliers in the course of business
Copyright©1994-2010 by Credit Union Resources & Educational Services, LLC. All rights reserved.
Revised February 2010
15