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Articles Tagged with 'risk'
Re-Evaluate Authentication Systems
September 01, 2011
This summer the Federal Financial Institutions Examination Council (FFIEC) agencies issued a supplement to their 2005 guidance (“Authentication in an Internet Banking Environment”).
Best Practices in Device and Identity Verification
August 11, 2011
CUs should move to more complex device identification and out-of-wallet verification procedures to reduce fraud.
Fight Fraud With Enterprise Fraud Management
June 24, 2011
Fraud prevention measures are vital, but it's even more important to know where fraud is occurring and to plug the hole.
Avoid IT Project Failure
May 17, 2011
Too often, the process for selecting information technology vendors and negotiating contracts is rushed and flawed.
Leave No Risk Unchecked
April 21, 2011
CUs are in the business of managing risk. Whether dealing with lending, investments, or liquidity, managing risk requires a careful and calculated approach.
Beware Three Emerging Loss Trends
April 12, 2011
A proactive approach to addressing emerging loss trends is by far the most effective strategy CUs can take to manage operational risk.
Risk Management Continues Evolution
April 01, 2011
The rapid evolution of CU operations requires keen and constant risk oversight.
Social Media Risks and Rewards
January 12, 2011
To understand social media, you must understand the terms.
Manage Uninsurable Risk: Four Steps
January 01, 2011
Managing risk is extremely important for CUs. But not every exposure is insurable.
Credit Cards: Keep a Lid on Losses
October 01, 2010
Pay attention to your products, the market, and regulations to maintain high credit quality.
Credit Union Magazine
September 2014 digital edition
Guide Members to Financial Health
You Can't Freeze Out CU Folks From a Good Fundraiser
Transforming the Branch Manager
Driven to Serve
Audit for Compliance
While I thought that the premise of the article was good, I found one point very disturbing. It is that the Visions FCU ages people off their board at age 70. I found that really offensive. It perpetuates what I believe to be the regrettable marginalization of elders in our society, and the often erroneous assumption of debility and decline after a certain chronological age. Lots of folks over 70 are leading dynamic and viable professional lives and contributing to our society. How about Warren Buffet, a number of Supreme Court Justices, Jimmy Carter, the late Nelson Mandela and the late Maya Angelou, to name but a few, along with scads of writers, academics, performers, artists, and often our friends, neighbors and colleagues. If Visions wants new people on their board, it seems as though the term limitations and a nominating committee can accomplish that without aging all people off at age 70. I think that’s so insulting. And if those were paid employment, it would be illegal. I do wish you’d have picked a different credit union to profile---one that perhaps does many of the same things, without the arbitrary age exclusion. There have to be others out there.
David, good point about the "recovering comfortably" comment. That was an editorial addition--which I'll remove.
Many good points but too rosy? Will the "Federal Reserve raise short-term interest rates 1% per year for the next three years, starting in 2015—“probably next year at this time” ? I have heard from other economist that the US government will go bankrupt if that happens due to the QE the fed has done for several years. Also it seems an exaggeration to say “We survived a heart attack,now the economy is recovering comfortably." Comfortably recovering is too ignore the economic stress that many members still live with daily that will eventually affect many credit unions.
Karan, Great article and insight. I would also recommend that you start getting those credit cards into the hands of the youth BEFORE they are in college. One of the best ways to reach this young generation is through mom and dad. Before the student goes to college, get them started with a credit card (even if mom and dad are joint on it). It's never too early to start marketing credit cards. Mark
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