Hello! I was tasked to research other CU's new employee process/guidelines/procedures. Per our New Account guidelines and procedures, we are to run a soft credit report to review all new member's credit scores as not everyone may qualify for a checking account or overdraft protection for a period of time. That being said, the new accounts procedures apply to all employees; however, recently our managers do not want to run CRs on new hires as they feel that all employees should qualify for overdraft protection. Additionally, they believe that HR should be doing that prior to hiring. While HR does run reports for their own files, they do not share information obtained during the hiring/onboarding process with the onboarding team. Managers feel that that is "confidential" information. Again, we run this for all members, so we do not want to give employees special treatment. Do you run CR for new hires, and if so, who is responsible for this? The managers, compliance, HR? Does your HR use the CR for hiring purposes (although this could be a touchy subject with protected classes)? Overall, I am looking for other FIs internal quality review process on the new employees as we do not allow non-managers to open new hire accounts - the managers are responsible for coding them as such.
Thank you!
