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Check Fraud: Can Your Credit Union Reduce the Risk?

Fraudulent business checks and financial institution official checks are being issued at unprecedented rates. The most common scam involves members receiving a letter indicating that they have won a lottery. The member is asked to wire or send the company part of the amount of the purported official check. The member is then directed to […]

October is Cybersecurity Awareness Month

October is Cybersecurity Awareness Month

You dread hearing those calls from members when they describe being in financial peril because they fell prey to a phishing scam or a romance scam. Sadly, credit union members — of all ages — fall victim to fraud. And unfortunately, fraud is becoming more prevalent. While you can’t build a shield around your members, […]

Is Your Credit Union Aware of Elder Financial Exploitation?

Senior man on computer reading a credit union newsletter about elder financial exploitation

Senior citizens are one of the fastest-growing demographic groups across the country. In Tennessee alone, they will account for more than 24% of its population by the year 2030. This is a jump of almost 27% from 2012, according to the U.S. Census bureau. As your credit union’s membership ages, addressing the challenge of elder […]

Tennessee Elder Abuse Task Force Final Report

The Tennessee Elder Abuse Task Force Final Report reviews research about elder financial exploitation; attempts to estimate the monetary impact of financial exploitation in Tennessee; and considers our state’s approach to identifying and investigating this type of elder abuse. Further, the report lays out the current framework for prosecuting and convicting perpetrators and addresses regulatory gaps and barriers. […]

NCUA Allows Flexibility for Meetings in 2022

Man Doing Announcement On Megaphone

On November 15, the National Credit Union Administration (NCUA) issued Letter 21-FCU-06 advising of the administration’s flexibility for meetings in 2022. With the continuation of the COVID-19 pandemic, the NCUA has extended the flexibility for federal credit unions to conduct meetings virtually in 2022. According to the standard federal credit union bylaws, a federal credit […]

Does Your Business Continuity Program include a Pandemic Plan?

Pandemic planning presents unique challenges to credit unions unlike most natural or technical disasters and malicious acts. The impact of a pandemic is much more difficult to determine because of the difference in the scale and duration of a pandemic event. As a result of these differences, credit unions need to plan for the potential […]