R337.  Financial Institutions, Credit Unions.
R337-9.  Schedule for Retention or Destruction of Records of Credit Unions Under the Jurisdiction of the Department of Financial Institutions.
R337-9-1.  Authority, Scope, and Purpose.
	(1)  This rule is issued pursuant to Section 7-1-301(7).
	(2)  This rule establishes a schedule for the retention of records of credit unions.
	(3)  It is the purpose of this rule to require the maintenance of appropriate types of records, which have a high degree of usefulness and to prescribe the period for which records of each class are retained.
	(4)  This rule specifically exempts credit unions from the requirements of Rule R331-10.

R337-9-2.  Definitions.
	Key to abbreviations:
	Figures - years
	P - permanently

R337-9-3.  General Rule.
	All credit unions under the jurisdiction of the Department of Financial Institutions shall retain and preserve all records listed in the following schedule for the period indicated for specific type:

	TABLE

 (1)  Accounting and Auditing
   (a)  Financial statement . . . . . . . . . .  10
   (b)  Cash received vouchers  . . . . . . . .   7
   (c)  General ledger  . . . . . . . . . . . .   P
   (d)  General journal/cash records  . . . . .   P
   (e)  Cash accounts reconciliation
          journals  . . . . . . . . . . . . . .   7
 (2)  Administrative
   (a)  Bylaws and amendments . . . . . . . . .   P
   (b)  Certificates/licenses . . . . . . . . .   P
   (c)  Charters  . . . . . . . . . . . . . . .   P
   (d)  Examination reports . . . . . . . . . .  10
   (e)  Supervisory and outside audits  . . . .  10
   (f)  Minutes . . . . . . . . . . . . . . . .  10
 (3)  Surety and Fidelity Bond Time Period
       After Expiration . . . . . . . . . . . .  10
 (4)  Member Certificate of Deposits Time Period
       After Payment  . . . . . . . . . . . . .   7
 (5)  Collections (Past Due Accounts)
   (a)  Collection files (closed) . . . . . . .   7
   (b)  Schedule of delinquent loans . . . . . .  2
 (6)  Currency Transactions and Related Material
   (a)  Copies of drafts, checks or money
          orders drawn on the credit union or
          issued and payable to it  . . . . . .   7
   (b)  Copies of checks, drafts or money
          orders drawn on the credit union or
          issued and payable by it  . . . . . .   7
   (c)  Copies of records of each payment or
          transfer of funds, checks, investment
          securities or other money instruments
          of $10,000 or more outside the United
          States  . . . . . . . . . . . . . . .   7
   (d)  Copies of records of each item of
          $10,000 or more received from outside
          the United States . . . . . . . . . .   7
   (e)  Currency Transaction Reports (Form
          4789) . . . . . . . . . . . . . . . .   7
   (f)  Deposit slips or credit tickets of
          all debits over $100,000  . . . . . .   7
   (g)  Exemption statements  . . . . . . . . .   7
   (h)  Exemptions Master List  . . . . . . . .   7
   (i)  Records of all extensions of credit
          over $10,000 unless the credit
          involves mortgage, home equity
          loans or refinancing  . . . . . . . .   7
   (j)  Reports of international
           transportation of monetary
           instruments (Form 4790)  . . . . . .   7
   (k)  Statements or ledgers showing all
           account activity . . . . . . . . . .   7
 (7)  Checking/Draft Accounts: Members
   (a)  Checks/drafts paid  . . . . . . . . . .   7
   (b)  Daily reports of overdrafts time period
          after overdraft is cleared  . . . . .   1
   (c)  Deposit tickets   . . . . . . . . . . .   7
   (d)  Individual members' account history
          ledgers . . . . . . . . . . . . . . .   P
   (e)  Signature cards . . . . . . . . . . . .   P
   (f)  Stop-payment orders time period
          after issued  . . . . . . . . . . . .   1
   (g)  Undelivered statements/dormant
          accounts log time period after date
          of last activity or contact with
          credit union  . . . . . . . . . . . .   7
   (h)  Disclosures/Notices of check-holds  . .   2
 (8)  Draft/Checking Accounts Held by Credit Unions
   (a)  Certified checks/receipts . . . . . . .   7
   (b)  Checks/drafts (canceled)  . . . . . . .   7
   (c)  Check/draft register  . . . . . . . . .   7
   (d)  Expense checks (canceled) . . . . . . .   7
   (e)  Expense check register  . . . . . . . .   7
   (f)  Expense vouchers or invoices  . . . . .   7
   (g)  Money orders and register . . . . . . .   7
 (9)  Personnel Information
   (a)  Disciplinary action records time
          period after terminated . . . . . . .   7
   (b)  Earnings record . . . . . . . . . . . .   P
   (c)  Employee benefit plans  . . . . . . . .   P
   (d)  Employee information reports  . . . . .   7
   (e)  Employee applications (not hired) . . .   3
   (f)  Employee applications (hired) time
          period after terminated . . . . . . .   7
   (g)  Employment eligibility
          verification  . . . . . . . . . . . .   3
   (h)  Injury reports time period after
          report date . . . . . . . . . . . . .   5
   (i)  Personnel files time period after
          terminated  . . . . . . . . . . . .  .  7
   (j)  Unemployment compensation  . . . . . . .  7
   (k)  Training manuals and records . . . . . .  7
   (l)  Withholding authorization time
           period after terminated  . . . . . .   8
 (10)  General Information
   (a)  Applications for traveler's checks  . .   7
   (b)  Change-of-address orders  . . . . . . .   2
   (c)  Paid bills, statements and invoices . .   7
   (d)  Vault records (except safe deposits). .   1
   (e)  Wire transfer debit and credit
          entries . . . . . . . . . . . . . . .   7
   (f)  Safe deposit access/entry tickets
          time period after entry date  . . . .   7
   (g)  Safe keeping receipts   . . . . . . . .   P
   (h)  Lease and contract  . . . . . . . . . .   P
 (11)  Insurance Policy  . . . . . . . . . . . .  P
 (12)  Investments . . . . . . . . . . . . . . .  P
 (13)  Merged Credit Union Articles and
         Bylaws  . . . . . . . . . . . . . . . .  P
 (14)  Loans
   (a)  Loan documentation to directors . . . .   7
   (b)  Business loan documentation time
          period after account closed . . . . .   7
   (c)  Consumer loan documentation time
          period after payoff . . . . . . . . .   7
   (d)  Real estate loans documentation
          time period after payoff  . . . . . .   7
   (e)  Real estate related documents
   (i)  HMDA-1  . . . . . . . . . . . . . . . .  10
   (ii)  HUD-1  . . . . . . . . . . . . . . . .  10
   (iii)  Good faith estimates time period
            after estimate  . . . . . . . . . .   2
 (15)  Share Accounts
   (a)  Membership and signature cards  . . . .   P
   (b)  Individual share ledgers  . . . . . . .   P

R337-9-4.  Reproductions.
	Any credit union subject to this rule may cause records in its custody to be reproduced by the micro-photographic or other equivalent process.  Any reproduction shall have the same force and effect as the original and shall be admissible into evidence as if it were the original.

R337-9-5.  Consistency With Requirements of Other State or Federal Statute or Rule.
	This rule will not preempt any other retention requirement longer than that specified herein imposed by any other state or federal statute or rule.

KEY:  financial institutions, credit unions
Date of Enactment or Last Substantive Amendment:  1995
Notice of Continuation:  September 28, 2017
Authorizing, and Implemented or Interpreted Law:  7-1 -301(7)