For more than 10 years, Woods Rogers has operated a credit union human resources hotline for the Virginia Credit Union League (VACUL). Recently, we added a second hotline for regulatory compliance questions. We offer support to both state and federal credit unions and understand the unique set of legal needs associated with a credit union’s structure, its members, and governance.  In addition, Woods Rogers’ attorney Jim McKell is a Certified CUNA Credit Union Compliance Expert. For more information about how Woods Rogers works with credit unions, contact Dan Summerlin, Tom Winn, or Jim McKell.

Services

Member Business Loans
Whether creating new loans, perfecting collateral, or managing problem loan workouts, our attorneys are available for all stages of commercial lending. Our expertise in member business loans allows us to assist with large and small secured transactions. Our emphasis on representing financial institutions and our occasional representation of borrowers provides a unique breadth of perspective and knowledge.

Bankruptcy & Litigation
Woods Rogers’ bankruptcy group guides creditors through the complexities of bankruptcy, helping to achieve fair agreements under difficult circumstances. We can assist lenders in developing plans to avoid problems in the bankruptcy process because we strive to anticipate issues in advance. Our areas of service include asset protection, collections, foreclosures, liens, loan workouts, and recovery of property. In addition, should a need for a trial arise, our litigation attorneys have the depth, knowledge, and experience to bring the proper skills and expertise to legal proceedings.

Corporate Governance
For organizations large and small, including non-profits, successful business begins with sound governance. Woods Rogers assists managers and boards of directors with formulation of corporate policies and strategic goals, review of significant actions or transactions, and counsel on matters fundamental to the success of the entity, including evaluation of internal systems and controls and financial statements.

Cyber Security
Woods Rogers advises companies large and small on privacy and cyber security issues. We assist companies in a variety of industries that have been impacted by data breaches. We believe in a proactive approach to counsel on cyber security—meaning it’s not a question of “if”, but “when”—and we offer regular training on the importance of establishing a Cyber Security Task Force that runs the scenario of a breach regularly. We know a cyberattack is not just a problem for an IT department; it can affect a company’s entire workforce and operations.

Labor and Employment
Woods Rogers’ labor and employment attorneys help employers find solutions to workplace issues. We are ranked by U.S. News & World Report as a Tier 1 Metro Area Law Firm in the following areas: Employment Law–Management; Labor Law–Management; Litigation–Labor & Employment; and Employee Benefits (ERISA) Law. We are also well-versed in federal contracting rules that apply to credit unions, as well as the issues human resources professionals encounter on a daily basis—from evaluating employee performance fairly and lawfully, to document retention policies, social media use guidelines, and more.

Regulatory Compliance & Compliance Training
As the pace of regulatory changes increases, it is more important than ever for credit unions to remain up to date and compliant. From truth in lending and mortgages, to fair lending and deposit services, Woods Rogers can assist credit unions with up-to-date compliance responsibilities. In addition, Woods Rogers’ CUNA Compliance certified attorneys create training programs for credit unions that include understanding the legislative and regulatory process, tracking proposed rule-making actions, and implementing final rules.

Wills, Trusts, and Estate Planning
Our Trusts and Estates attorneys handle all manner of trust and estate needs as well as advance medical directives, business succession planning, charitable-giving techniques, estate and gift tax planning and tax returns, and powers of attorney. We often work with financial services companies to assist their clients/customers in navigating trust and estate needs.

Important Industry References

CUSO Registry

Fixed Asset Management

Flood Escrow

High Risk Mortgage Appraisals

HMDA Data Collection

IOLTA Rule

IRA Rollovers

IRS Reporting

MBL/Commercial Loan Modifications

Military Lending Act Changes

Rate Hike and Loan Rate Increase Notice

Reg C Changes

Reg Z – Small Creditor and Status of Serving Rural or Underserved Areas

Robocall/Autocaller Fraud Exceptions

Same Day ACH

TILA-RESPA Disclosures