Different types of fraud & how to protect yourself

first_img 16SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Whether we like it or not, fraud has become a prominent part of our technologically advanced society. Fraudsters are after either two things – your money or your identity, and sometimes both. Whether they hack your email account or obtain your Social Security number, fraudsters are smart, quick and are always trying to stay one step ahead. That’s why it’s so important for you to be educated on the different types of fraud and the ways these scam artists get ahold of your information.Let’s take a look at all the different types of fraud out there, real-life examples and how you can protect yourself from falling for these scams.Social EngineeringSocial engineering is when fraudsters trick innocent consumers into divulging personal and confidential information. This includes their email and online account information, bank account information or computer network information. The fraudsters contact people, by phone, email or mail, posing as phony representatives from legitimate companies claiming there is a need to verify or provide their information. Fraudulent emails include the company logo, which make them appear even more real. This is called phishing. continue reading »last_img read more

3 steps to take when a valued employee suddenly resigns

first_img 91SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,John Pettit John Pettit is the Managing Editor for CUInsight.com. John manages the content on the site, including current news, editorial, press releases, jobs and events. He keeps the credit union … Web: www.cuinsight.com Details It’s tough any time an employee quits. Even if the employee was awful, there’s going to be an adjustment period. If the employee was one of your “stars” it can be extremely frustrating to see them seeking greener pastures. If this happens in your office, here are 3 steps you can take to start recovering.Don’t freak outYou may be tempted to immediately freak out when a key employee quits, but you shouldn’t. Maybe you feel they’re irreplaceable, but the truth is you’re going to be okay. The first resume you look at may not solve all your problems, but you’ll figure it out. You might have to spread some responsibilities around, but the job will get done. Obviously losing a valued employee will be tough in the beginning, but with help from your team, you should bounce back quickly.Meet with your teamWhen a key employee quits, it affects everyone. Make sure the team is informed about what happened and then make a plan to cover all the essential job responsibilities that you’ll be missing. Give your team some time to adjust and think, and then have a group discussion, brainstorm and come up with ideas for moving on.Keep an eye on your finely tuned machineYour team was running to perfection before your star employee quit. Now, you have different people doing different things and your machine may not be running quite like it used to. That’s ok. Unlike an actual machine, you can’t just replace a part and have your machine go back to working exactly like it did before. There will be some adjustment. Keep an eye on things and make sure things aren’t falling apart, but have faith in your team. Just because they can’t stand back up and hit the ground running, doesn’t mean they won’t be running again shortly.last_img read more

CU trades seek help from Congress & DoJ in ADA battle

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading » Credit union trade groups are urging Congress to enact legislation and the Justice Department to issue final rules that would assist businesses in fighting lawsuits contending that their websites violate Americans With Disabilities Act.At least nine lawsuits have been filed against credit unions alleging that their websites are inaccessible to the visually impaired. All the complaints were filed by one plaintiff who is represented by the same attorney.As a result, the credit union trade groups are seeking help from the federal government, saying the issue remains unclear and leads to lawsuits.“The Department of Justice began considering developing regulations to address this topic over seven years ago but never completed the process,” CUNA President/CEO Jim Nussle said, in an e-mail sent to member credit unions.last_img read more

2017 Year in Review: A look at Americans’ financial habits

first_img continue reading » 36SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr 2017 was a momentous year for Americans and their finances, specifically in regards to household debt. According to the Federal Reserve Bank of New York, household debt reached a new high of $12.96 trillion in the third quarter of 2017. That was $280 billion higher than the previous record set in 2008. What does this unprecedented imbalance say about Americans and their financial habits?GOBankingRates conducted numerous financial surveys throughout the year to probe this question. Click through to get a closer look at Americans and their money in 2017, and find out if there’s any hope for our financial future.last_img read more

CUNA praised for S. 2155 digital grassroots success

first_imgCUNA was recognized Thursday for its grassroots success in getting tens of thousands of messages to legislators in support of the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155). CUNA’s grassroots engagement with credit union leaders, which started at the 2018 CUNA Governmental Affairs Conference, resulted in more than 50,000 messages sent to Congress, and the bill being signed into law in May.CUNA engaged Phone2Action at CUNA GAC, getting credit union leaders to use a new technology to send messages of support for S. 2155. Phone2Action congratulated CUNA Thursday for its S. 2155 success in its digital advocacy update, The Bolt.The thousands of messages were sent to legislators prior to the Senate and House passage of the bill, and resulted in more face-to-face engagement between credit unions and legislators than any other campaign CUNA has undertaken. continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

The power of monthly giving—to you and credit unions

first_img 15SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Mike Reuter Mike Reuter is the Executive Director of the Worldwide Foundation for Credit Unions, the 501c3 charitable nonprofit that supports the World Council of Credit Unions in its mission of providing … Web: https://www.woccu.org Details You should get a confirmation email and special message, welcoming you as a new member of a special group, those that take a step into our global movement to change the world. We hope you’ll join us today! The Worldwide Foundation for Credit Unions is rolling out a new feature to ensure everyone across our movement has an opportunity to #DoGlobalGood for members everywhere—a Monthly Giving Program. A monthly giving program is designed to give a charity the ability to reach out to individuals and organizations that want to spread their generosity out over the course of the year in smaller installments that are automatically withdrawn from a credit card or bank account. It’s easy to see why a monthly giving program is good for nonprofits; it provides a stable, recurring flow of donations, and adds another revenue stream to compliment an annual appeal or sponsorship program. Over the next few months, we will be profiling our special group of Champions who are monthly donors to hear their “WHY” for supporting the global credit union movement through the Worldwide Foundation. How can a monthly giving program be good for potential global champions? It’s convenient For them.Subscription models are everywhere nowadays, and even before services like Netflix revolutionized how we consume and pay for things like TV, we were used to monthly billing. The difference is that they just weren’t as smooth or as automated as they are today. Monthly payments spread out the cost over a series of months, making them more tolerable for budgets and allowing people to plan better.The same is true with regular giving. It’s just plain convenient to add in charitable giving to organizations as a budget item and have it come off a paycheck, credit card or right out of their bank. We’ll do the work of making sure you get one tax receipt at year’s end that illustrates each monthly donation, making it easier for Champions to keep tabs on their giving. They (should) get fewer asks, more updatesThis should leave more time for them to get updates and reports on the progress of the organization’s work and what their regular donation is helping us achieve. There also will be fewer requests to give—as they are already giving—and more updates on the difference they are making. That’s a good thing for our champions.Becoming a global Champion has never been easier!An easy, five-step process to become a monthly global Champion starts by:  Visiting DoGlobalGood.org/give2. Select which fund or program you’d like to support with the monthly amount3. Check the “Make This a Monthly Donation” box 4. Fill out your contact and payment info5. Click the “Support WF” buttonlast_img read more

Service dog trainees win over CU staffers

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Meet Maverick, a yellow Labrador retriever with an impressive resume: He’s a member of the PenFed Credit Union team, social media star and assistance dog in training for a mission to transform the life of a person with disabilities.Maverick is being raised by Andrea McCarren, VP/digital and chief content officer, and accompanies her daily to work and in her travels, even on the runway to gala fundraisers for the Canine Companions for Independence and other organizations that support veterans, military members and their families, causes supported by the $25 billion Tysons, Virginia, credit union.He is one of three future assistance dogs that are a regular and welcome presence at PenFed offices. Admiral is being raised by Senior EVP Lisa Jennings, and Clint travels with Emma Phillips, university relations and campus recruitment lead, when she goes on college visits to recruit future employees. Thus far, PenFed CU has spent $100,000 in support of Canine Companions and the care of the three dogs as they learn basic commands and socialization skills over 18 months with their current humans before moving on for more intensive training and eventual placement.During his time with McCarren, Maverick also has a gig as the first “social media influencer” for Chewy, the online pet supply company, and will earn a commission for every referral of new customers through his posts. “He’s donating all of it to the PenFed Foundation, which supports military families in need and Canine Companions,” she says. continue reading »last_img read more

It’s time for your credit union to host a cybersecurity awareness program

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading » Consumers face a near-daily barrage of troubling cybersecurity news, with each story being more concerning than the last. When the public learned about the Capital One data breach, consumers were again left scrambling to figure out if their personal information was included in the 106 million exposed records. So, how can financial institutions quell this constant cyber-paranoia?To find out, CSI polled more than 2,000 American consumers to discover their perceptions of the cybersecurity threats and challenges surrounding themselves and their financial institutions. The result? Consumers (unsurprisingly) want to know how to better protect themselves and, in fact, are open to their bank showing them how. Almost three-fourths (74 percent) said that they would likely participate in a cybersecurity awareness program if offered by their financial institution.This insight presents a tremendous opportunity to banks that want an inexpensive way to increase their value and retain more customers.If You Host It, Consumers Will ComePer our poll, consumers age 18 through 44 are the most likely (75 percent) to attend a bank-sponsored cybersecurity education program, but interest from those age 45 and older is not far behind (73 percent).last_img read more

Purposeful Talent Development: All about stay interviews

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Do you know why your employees stay in their roles? Do you know what supports their continued engagement in their work?If you begin answering this question with the words “I think …,” you may want to read on. As leaders, we make a lot of assumptions as to why our staff stay in their roles and many times are surprised when they leave. If staff continue to do their work, we can be lulled into a false sense of security, believing they are happy and content. However, this is not the same as engaged and motivated. Therefore, we need to be more proactive about knowing what our staff enjoy doing, what keeps them wanting to come to work each day and what they need to continue to grow. We can find out all these things by conducting stay interviews.Stay interviews are becoming more common, and many organizations have developed formal programs. However, whether your credit union has implemented a formal process or not, this is something you can do with your staff. Let’s look at stay interviews and how you can use them to be more proactive in knowing, and therefore retaining, your staff. continue reading »last_img read more

Shifting from financial institution to financial health provider, in a crisis and beyond

first_img 15SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Brenton Peck Brenton Peck is a Director on the program team at the Financial Health Network, where he helps organizations structure and execute projects that improve the financial health of their business … Web: https://finhealthnetwork.org Details Like many of us under “stay-at-home” or “shelter-in-place” orders, my professional and personal life now relies on Zoom. Clients and colleagues have quickly defaulted to video conferencing, virtual playdates have become a thing, and trying to read my friends’ bluff attempts on-screen while playing poker is the new normal.In fact, I look forward to these bi-weekly poker nights with a rotating group of friends including a lawyer, failed bond trader, and former CFO. They all have stable jobs (at least for now) and enough pocket change for poker night. While we play, the conversation consistently turns to the current events and the markets – and the group often discusses the adage “buy on the way down”. It’s worthwhile advice if you’re fortunate enough to be in a position to act, but the stark reality is that most people in America are not.The Vast Majority are Struggling The COVID-19 crisis exacerbated the financial health needs of the majority. Before the pandemic, during a booming economic period, our organization found that only 29% of the U.S. population was financially healthy. While the data shows that income is correlated to overall financial health, nearly 50% of those making more than $100,000 per year were already struggling. With so many people trying to get by, how are individuals and families going to spend, save, borrow, and plan in ways that improve their chances of long-term financial success in the current environment?Financial Health Providers Credit unions have often found themselves at the forefront of financial health, but credit unions are now uniquely positioned to become more than a financial institution to their members. This includes being reactive to members’ needs today by waiving fees and being flexible. Some actions are being taken to help support credit unions and members during this time. The NCUA posted a helpful guide for supporting members during this crisis, and QCash Financial is offering a COVID-relief program for credit unions seeking a short-term credit option for members. However, with more than 25 million people in the U.S. filing for benefits since the pandemic started to batter the economy, the communities which credit unions serve need more.Credit unions are poised to uniquely address the holistic needs of the community, both during this crisis and beyond. In order to do so, credit unions should consider partnering with high- quality fintechs in order to offer services that better serve customers where they need assistance today. Fintechs can offer customized expertise and tools, such as:SpringFour directs members to best-in-class local government and nonprofit resources.Steady helps members increase their income by providing tailored job opportunities.SaverLife gamifies the savings experience so members can weather financial shocks.Leading the Charge: People Need our Help Credit unions like BCU, Coastal, IH Mississippi Valley, and ESL acted quickly to provide COVID-19 resources and relief to help members manage through this crisis. Additionally, they are actively measuring financial health so they meet members and employees where they are, and the Foundation continues to be a centralized hub for resources and thought leadership. The mantra of ‘people helping people’ shines bright.But beyond addressing the pains already felt through the pandemic, these leading institutions are showing us what is possible and giving us a glimpse into the future of the financial health movement.Especially in a crisis, credit unions can be more than financial institutions. They can be financial health providers.last_img read more