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Council white paper focuses on scam prevention detection

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MADISON, Wis. (8/10/10)--Credit union front-line staff who stay alert for signs of fraud and educate members to do the same can effectively protect members and credit union assets, says a new white paper just released by the CUNA Operations, Sales & Service (OpSS) Council. "Too Good to Be True: Detection and Prevention of Common Scams" describes what members are most at risk from scams, examines five common types of scams through the eyes of four credit union professionals, and provides suggestions and resources for credit unions seeking to strengthen their defenses against these crimes:
* Lottery scams, one of the most common types of mass-marketing fraud, uses telemarketing or bulk mail; * Work-at-home scams, often starting with a job offer via mail or e-mail; * Phishing, smishing and vishing, using e-mail, text or telephone to entice members into revealing personal financial information; * Debit and ATM scams, often starting with a card reader and wireless camera attached to an ATM or gas pump to capture card information; and * Wire fraud, often involving someone falsely representing the member, requesting a transfer of funds via Western Union.
"Scammers prey on the most vulnerable people by appealing to their need, greed, compassion, respect for authority figures and unsuspicious nature," the paper said. "So many different scams are out there, but awareness among credit union staff and members can expose and thwart them all," it added. CUNA Council members can receive complimentary copies of these and more

CUNAs Volunteer Institute preps directors for fiduciary duty

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MADISON, Wis. (8/10/10)--The Credit Union National Association’s (CUNA) Volunteer Institute, Oct. 10-13 in Las Vegas, will provide credit union volunteers with an advanced understanding of the issues affecting their credit unions, including governance and fiduciary duties, CUNA said. The program focuses on content providing insight and understanding of the current industry needs and expectations, such as the changes the National Credit Union Administration (NCUA) recently proposed to sections 701, 708a, and 708b of its rules. By successfully completing identified sessions and exams, attendees can earn credits for the CUNA Volunteer Certification Program toward their Certified Credit Union Volunteer designation. Key sessions include:
* “Compliance Update,” with Robert Rutkowski, head of the Credit Union Department and the Corporate & Financial Services practice group for Weltman, Weinberg & Reis Co., L.P.A. His session will help volunteers stay on top of the ever-changing regulatory environment, for the safety and soundness of credit unions. * “High Board Involvement = Great Results: The Board's Role in Strategic Planning,” with John Redding, founder and president, Institute for Strategic Learning, LLC. He will discuss high-performing credit unions whose boards played critical roles in sparking and guiding their organizations to achieve high-performer status. Attendees will discover a best-practice model for board involvement in strategic planning, identify specific steps to strengthen their board's contribution to obtain superior results, and learn how boards applied this best-practice model to produce better-than-expected results in an unprecedented economic crisis. * “E-governance: Using Online Tools to Build Your Board's Effectiveness,” with Dottie Schindlinger, E-governance at BoardEffect. E-governance, the strategic use of online tools such as board portals to enhance the effectiveness of boards, is the latest governance trend. Board portals provide a secure online space where board members can share resources easily, communicate efficiently, conduct committee and board work between face-to-face meetings, share calendars and develop a knowledge base. * “Implementing E-governance Successfully,” with Dottie Schindlinger. Building on the keynote presentation on e-governance, this session will provide a list of steps attendees can take to implement a board software solution. * “Analyzing the Risk in Your Loan Portfolio,” with Dan Johnson, managing member, and Steve Miller, director/senior analyst, both of Twenty Twenty Analytics. Attendees will hear from industry experts about how to maximize effectiveness while ensuring the efficiency that is required to meet deadlines.
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