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Carrie, Our inactive account fee of $10.00 per month is assessed if there has been no activity on the account for 12 consecutive months and the total account relationship is under $500.00. The monthly fee will begin in the 13th month of inactivity. Activity is reviewed at the overall account level, ...

I'm Farren with your compliance partner at ViClarity powered by the OCUL, I wanted to weigh in on the topic. There is no specific regulatory definition of when memberships/accounts must be flagged as inactive, so practices often vary across each credit union. Around 12 months of no member initiated activity ...

We would like to understand when other credit unions flag memberships/accounts as inactive and whether there is an industry standard for this practice. This is separate from dormancy timelines. Right now, we are at 12 months and charge $5 per month once the account goes inactive. We look at the entire ...