A credit union shall maintain books and financial records that: Accurately and fully reflect the fiscal affairs of the credit union; and Are sufficient to enable an independent certified public accountant to perform a complete audit of the credit union. A credit union shall maintain at least the following types of financial records: Cash receipts journal; Cash disbursements journal; General ledger; Manual or automated ledger or card system for all share or deposit accounts, or both; Manual or automated loan ledger or card system; Income account ledger; Expense account ledger; Checkbook, cancelled checks, deposit receipts, bank statements, and bank reconciliations, or micro-reduced copies of them; and Any other records required to be kept by the corporation under Corporations and Associations Article, §2-111, Annotated Code of Maryland. A credit union shall use the double entry accounting system. A credit union shall ensure that its books and records are protected against destruction by fire or other calamity. A credit union may use computer-stored financial data to keep its books and records, if it maintains an adequate off-premises back-up data file for use in the event of system failure resulting in destruction of the primary data file. A credit union: Shall promptly post entries in its books and records; Shall balance its books and records at least quarterly; May use machine posting of its books and records, if settlement or summary sheets are supported with machine tapes and all other necessary information; and May use a journal voucher system if the vouchers are numbered sequentially and retained as required by §G of this regulation. A credit union shall retain all of its accounting records, tapes, trial balances, books, ledgers, audits, share and deposit account records, and supporting documentation for a minimum of 5 years. Credit unions shall use the accounting procedures contained in the “Standardized Accounting Manual for State Chartered Credit Unions”, which is incorporated by reference. This manual is published by the National Association of Credit Union Supervisors. Failure To Comply with this Regulation. Upon a determination that a credit union has failed to comply with the requirements of this regulation, the Commissioner of Financial Regulation may take any of the following actions: Order the officers of the credit union to take steps to bring the credit union into compliance; Order immediate turnover of all existing books and records; Suspend the treasurer, chief executive officer, comptroller, or any other person responsible for maintaining the books and records, from continuing in that capacity; and Cause an immediate audit, examination, or investigation to be conducted at the cost of the credit union. Before the order or suspension becomes effective, the Commissioner of Financial Regulation shall give the credit union an opportunity for a hearing.