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ALEXANDRIA, Va. — NCUA recently clarified that federal credit unions may match deposits to special employee savings accounts as an employee benefit if the arrangement meets certain regulatory requirements.

In a Feb. 23 opinion letter, the agency said NCUA’s Truth in Savings Act regulation allows a FCU to offer benefits, “to its employees and officers who are compensated in conformance with the Act and the bylaws,” however, the benefits, “must be reasonable given the FCU’s size, financial conditions, and the duties of the employees.”

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