North Carolina Administrative Code
Title 04 - COMMERCE
Chapter 06 - CREDIT UNION DIVISION
Subchapter C - CREDIT UNIONS
Section .1000 - RETENTION OF RECORDS
Section 06C .1002 - NONPERMANENT RECORDS
Current through Register Vol. 39, No. 6, September 16, 2024
(a) Each credit union shall retain nonpermanent records as defined in Paragraph (b) of this Rule, in a manner consistent with reasonable business practices as set forth in G.S. 54-109.17, rules, and federal regulations. The board of directors of the credit union shall determine the length of time that any nonpermanent record not specified in this Rule shall be retained based upon reasonable business practices.
(b) All records not referenced in Rule .1001 of this Section shall be considered nonpermanent records.
(c) The following nonpermanent records shall be retained in their original form or in any electronic or digital form that permits their retrieval and replication:
|
GENERAL LEDGER |
|
|
General Ledger |
15 years |
|
Journal Cash (Journal of original entry) |
15 years |
|
Signature Cards (after the account is closed) |
10 years |
|
Shares and Deposits Subsidiary Ledger |
10 years |
|
Bank Reconciliations |
10 years |
|
Registers: (Check, Money Orders, and Collateral) |
10 years |
|
Record of Receipts (Deposit tickets, Payroll Deduction Records) |
10 years |
|
Withdrawal Slips: (Cash Payments, Check Payments) |
10 years |
|
Cancelled Checks, Money Orders, Cancelled Checks |
10 years |
|
Bank Statements |
10 years |
|
Bank Deposit Slips |
10 years |
|
Invoices for Sale or Purchase of Securities |
10 years |
|
ADMINISTRATIVE |
|
|
Certificates and Licenses to Operate Under Programs of Various Government Agencies After the Term of the Program Expires |
10 years |
|
Minutes of the Credit Committee Meetings |
10 years |
|
Charged off Loans (Note and Application)(after the date of the charge off) |
10 years |
|
Charge off Ledger Sheet |
10 years |
|
LEGAL JUDICIAL AUTHORIZATION |
|
|
Attachments or Garnishments |
10 years |
|
Bond Claims |
10 years |
|
Court Orders |
10 years |
|
MEMBER RECORDS |
|
|
Transaction Records |
10 years |
|
Members Periodic Statements |
10 years |
|
Month End Trial Balance |
2 years |
|
Signature Cards (after the account is closed) |
10 years |
|
LOANS (COMMERCIAL, CONSUMER, AND MORTGAGE) |
|
|
Subsidiary Loan Ledgers |
10 years |
|
Delinquent Loan Schedules |
5 years |
|
Loan Applications (after the loan is paid) |
2 years |
|
OTHER |
|
|
Tax Records |
10 years |
|
Personnel Records |
10 years |
|
Expense Reimbursement Forms |
5 years |
|
Reports: Statistical Reports submitted to NCUA or Credit Union Division |
10 years |
|
Escheat records, including communications between the credit union and the NC Department of State Treasurer and records containing the information required to be included in the report filed with the State Treasurer pursuant to G.S. 116B-60. |
10 years |
Authority
G.S.
54-109.12;
54-109.15;
54-109.17;
Eff.
February 1, 1976;
Readopted Eff. April 4, 1978;
Amended
Eff. March 1, 2016;
Readopted Eff. February 1,
2018.
