What is File Maintenance?

NCUA’s Definition – “All changes made through the computer system that affect members’ accounts. Also called the Non‐Financial Transaction report, this report usually differentiates between old and new data so the user can determine the credit union’s changes. Changes that occur most often include: addresses, telephone numbers, loan due dates, payment amounts, interest rates, and maturity dates.”

Why is monitoring File Maintenance Important?

To reduce the risk of inappropriate fraudulent non‐financial transactions, performed by employees or even identity thieves. Generally, File Maintenance is one of the most critical areas of exposure in a credit union, which usually results in high dollar losses to a credit union, by manipulation of credit union and member data. Consistent monitoring/audits of Supervisory Override and File Maintenance reports is an important part of OCUs internal control program and is a low‐cost fraud detection tool to detect account takeovers.

You may have been receiving phone calls or emails in regards to File Maintenance items you have performed over the past few months. This is a normal practice for the Back Office to monitor any File Maintenance changes that take place throughout the credit union. They are making sure that we have the proper documentation in place to show auditors and examiners that we have validated the appropriate changes.