Learn the retention policies, laws, and procedures regarding the maintenance of loan documents. By taking these interactive courses, you’ll discover the most efficient way to file and maintain loan records including purging and destroying out-of-date documents. At the end of this course, you’ll be able to answer member questions on approval status, loan balance, and payoffs.
This module contains 5 online courses:
- Basic Record Filing and Maintenance (A1012A)
- Loan Documents Overview (A1012B)
- File Retention Policies and Procedures (A1012C)
- Loan Documents as Member Service Tools (A1012D)
- Loan Auditing (A1012E)
See the topics and learning objectives
Hide detail Following are the learning objectives for each course:
Basic Record Filing and Maintenance:
- Understand file correspondence and loan documents in member files
- Know how to input and maintain all verbal and written collection documentation
- Identify regulations that apply to loan filing and maintenance
- Describe technologies used for filing and maintaining loan records
- Explain your credit union’s policies and procedures for maintaining loan records
Loan Documents Overview:
- Describe typical loan documents and terms
- Identify information to be maintained in the loan log for all loan applications
- List the documents that must be maintained for all approved loans and rejected loans
- List documents to maintain in paid loan files
- Explain loan policies and regulations regarding electronic or digital versions of documents that were originally in hard copy or paper-based form
File Retention Policies and Procedures:
- Outline the information on loan applications that must be retained by the credit union
- Identify federal laws and regulations relating to loan file retention
- Identify standard credit union policies for loan file retention
- Describe methods for purging and destroying out-of-date loan documents
- Explain employee responsibilities in safeguarding confidential member information
Loan Documents as Member Service Tools:
- Identify loan documents and files that provide quick answers to member questions
- Explain laws and regulations regarding release of confidential information
- Explain common credit union policies regarding requests for approval status, loan balances, and payoffs
- Describe common member requests for loan information and how you can meet those needs
Loan Auditing:
- List the reasons for conducting an internal loan audit
- Explain what is contained in a typical credit union loan policy manual
- Identify errors in loan policy reconciliation
- List the steps involved in performing an audit of the credit union’s loan documents
- Describe how to test the integrity of data on the loan accounting system
This course is a recommended course in the following learning plans:
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Course Number:
A1012 (online)
S1314 (print) is an equivalent course
See more Lending and Loan Processing courses.
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