What records must credit unions maintain regarding their BSA training program?

Credit unions are required to maintain records of training materials and attendance as part of their compliance with the Bank Secrecy Act (BSA). This includes keeping detailed documentation of the training programs conducted, the content delivered, the dates of the training sessions, and the participants who attended. Proper recordkeeping ensures that the credit union can demonstrate its commitment to BSA compliance and provide evidence that staff are trained in recognizing and reporting suspicious activities, which is a critical aspect of the BSA's regulatory framework.

Maintaining this documentation also helps to assess the effectiveness of training programs and enables the institution to identify any areas for improvement. Compliance with BSA regulations is essential, and having comprehensive records of training supports the credit union's ability to fulfill their obligations under the law.