Member & Account Due Diligence Program

Municipal Credit Union (MCU) needs your assistance in obtaining important information to help protect your account and meet federal regulations.


The Federal government has empowered the Federal Financial Institutions Examination Council (the “FFIEC”) to implement regulations requiring financial institutions to establish Bank Secrecy Act (“BSA”) and Anti-Money Laundering (“AML”) programs. The FFIEC has indicated that the cornerstone of a strong BSA or AML program is a comprehensive Member Due Diligence (MDD) and Account Due Diligence (ADD) program. A compliant MDD and ADD program requires a financial institution to collect additional personal information from a new customer (we call our customers “members”) to help the financial institution to better know the customer. In addition, a financial institution is required to get information from a new customer regarding their expected account usage.


MCU has been collecting the required personal information from all new accountholders since July of 2008 and is now undertaking an initiative to collect this information from all existing accountholders. To collect this information, we need your assistance and cooperation. We are asking that you complete and return to us a short questionnaire we have specially designed for this purpose. This form, known as the MDD/ADD Information Questionnaire, can be obtained at any of our branch locations during normal business hours or you can click here to download a copy.


If you would like additional information regarding the Federal requirements, you can visit the FFIEC website below:


http://www.ffiec.gov/bsa_aml_infobase/pages_manual/manual_online.htm


We thank you for your assistance and cooperation with regard to this important initiative.


MCU Compliance Department



Once you have completed the MDD/ADD information questionnaire, there are many convenient ways that you can return the completed questionnaire to Municipal Credit Union. Below are the four (4) easiest ways you can return this form to us.

  1. Return the form to your nearest Municipal Credit Union branch
  2. Mail the form to:

    Municipal Credit Union
    Attn: Mail Banking
    22 Cortlandt Street, 20th Floor
    New York, NY 10007
  3. Fax the form to: (212) 416-7316
  4. Or e-mail the form to: MemberCompliance@nymcu.org