Operations

An Ounce of Fraud Prevention is Worth Millions in Cures

August 01, 2008
An Ounce of Fraud Prevention is Worth Millions in Cures August 1, 2008 By Kevin Joy As online banking activities grow, phishing attacks have become a prime source of identity theft. Credit unions are now finding themselves battling an escalating number of these attacks that are specifically designed to acquire... READ MORE

Insider Fraud and Your CU

August 01, 2008
Insider Fraud and Your CU August 1, 2008 By Michael Mulholand No credit union manager wants to think his/her employees are stealing money or member information. But internal fraud (employee fraud) is a major problem for financial institutions of all sizes—not just the biggest banks. In fact, as more of... READ MORE

Adaptable Fraud Prevention: A Global Solution

August 01, 2008
Adaptable Fraud Prevention: A Global Solution August 1, 2008 By Karen Postma It's no surprise that given the increased use of payment cards by consumers from Boston to Bangkok and places in between, card fraud is on the rise. Losses total in the hundreds of millions of dollars for debit... READ MORE

The Three Most Common Types of Fraud

August 01, 2008
The Three Most Common Types of Fraud August 1, 2008 By Alyssa Martin, CPA What happens when an organization detects fraud? The most direct cost of that fraud may be measured by the amount of assets stolen or in the difference between actual financial performance and what was presented in... READ MORE

No Excuses: Growing a CU in a Shrinking Economy

July 01, 2008
No Excuses: Growing a CU in a Shrinking Economy July 1, 2008 By Ann Marie Gunn Newsweek's Keith Naughton wrote in January, "If you want to see what hard times look like, come to Michigan." Thanks to a renewed passion for service coupled with enterprise sales and service initiatives, however,... READ MORE

Welcome, Amigos

June 01, 2008
Welcome, Amigos June 1, 2008 By Tony Malaghan Never underestimate the benefits of welcoming your credit union's new members, especially those of Hispanic descent. Whether your credit union uses letters, welcome packets, e-mails, phone calls, or a combination of strategies, welcoming efforts form the foundation of successful long-term relationships. New-member... READ MORE

Workout Strategies That Work

June 01, 2008
Workout Strategies That Work June 1, 2008 By Sharyn Alden Members behind on loan payments and facing mounting credit card debt have lives filled with stress, missed opportunities, and victimization. Credit unions are coming to the rescue with financial education and integrated financial options to help debt-burdened members improve their... READ MORE

A CFO in the Know

June 01, 2008
A CFO in the Know June 1, 2008 The Sacramento Business Journal recently honored Dave Roughton, chief financial officer (CFO) for $1.4 billion asset SAFE Credit Union , North Highlands, Calif., as CFO of the Year for medium-size businesses in the Sacramento region. Roughton, who started working in SAFE's cash... READ MORE

Review CUNA's 2007 Annual Report

June 01, 2008
Review CUNA's 2007 Annual Report June 1, 2008 Paramount objectives for the Credit Union National Association ( CUNA ) during 2007 were growth and member involvement—most notably as part of CUNA's expanded financial literacy programs, says Tom Dorety, CUNA chairman and CEO of Suncoast Schools Federal Credit Union, Tampa, Fla.... READ MORE

SAS 70 Reports Provide Peace of Mind

May 01, 2008
SAS 70 Reports Provide Peace of Mind May 1, 2008 By Alyssa G. Martin When the American Institute of Certified Public Accountants (AICPA) introduced Statement of Auditing Standards No. 70, Service Organizations (SAS 70) in 1992, many service organizations viewed it as an optional audit—an option determined by cost/benefit analysis.... READ MORE
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