ALEXANDRIA, Va. – Federally insured credit unions may obtain new members though online applications provided they continue to verify the identities of the new members, according to a new NCUA legal opinion. “We note that the E-Sign Act does not alter the credit union’s obligation to implement member identification procedures as mandated by the Bank Secrecy Act and our regulations, the agency wrote. “You have indicated that the credit union will continue to implement its member identification processes in accordance with these requirements. The credit union should ensure that its audit and verification procedures are sufficient where the member’s signature is captured electronically.” The $2.7 billion Star One Credit Union, headquartered in Sunnyvale, California, which asked for the opinion, already allows perspective members to join the credit union electronically through computer terminals in its branches.


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