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A Guide to 1071 Voluntary Reporting

Risk Management

A Guide to 1071 Voluntary Reporting

One of the many complex aspects of the Consumer Financial Protection Bureau (CFPB)’s rule implementing section 1071 of the Dodd Frank Act is the option for voluntary reporting. What does this option look like for covered financial institutions? Why might a lender want to participate? What are the pros

Is There a New Pillar of BSA Compliance on The Horizon?

Risk Management

Is There a New Pillar of BSA Compliance on The Horizon?

Back in 1970, Congress passed the Bank Secrecy Act (BSA), a law which required financial institutions to work with the government to eliminate money laundering and fraud. Now, over 50 years later, BSA has endured multiple rules and regulations changes, which have resulted in what is called the “five pillars”

The Art of Leadership Communication: Identify, Adapt & Listen

Leadership & Culture

The Art of Leadership Communication: Identify, Adapt & Listen

When it comes to your leadership communication style, there are so many assessments out there that can help you identify yours. Even a quick Google search brings up at least nine different communication style quizzes to determine your individual or preferred style. From my personal research, I found one that

Be Cyber Safe: 4 Tips to Secure Your Credit Union During Cybersecurity Awareness Month

Risk Management

Be Cyber Safe: 4 Tips to Secure Your Credit Union During Cybersecurity Awareness Month

Earlier this year, we learned that millions, if not billions, of people were impacted by the National Public Data breach that occurred in December of 2023. Through this data breach, personal information like social security numbers, addresses and phone numbers were exposed to bad actors. In July, Ticketmaster released information

Credit Unions…This is Your Season to Celebrate!

Credit Union Movement

Credit Unions…This is Your Season to Celebrate!

The leaves may be turning gorgeous shades of orange and gold, the sunsets may shine more beautifully as the days grow shorter and the tradition of displaying twinkling lights may be right around the corner. But there’s something that shines even brighter than all of these things…the power

Debunking Health Plan Renewal Myths: You Don’t Have to Wait to Find Better Benefits

Employee Benefits & HR

Debunking Health Plan Renewal Myths: You Don’t Have to Wait to Find Better Benefits

Health insurance can be a complex field to understand, leading to misconceptions, misinformation and, ultimately, overspending on the wrong providers. Fortunately, credit unions have a CUSO partner to help them navigate the options, debunk the myths and chart a new path for better results. Let’s take a look at

An “Old Faithful” Tool That Brings Simplicity to Investments & Liquidity

Money Management

An “Old Faithful” Tool That Brings Simplicity to Investments & Liquidity

SimpliCD Case Study featuring Clearview FCU It’s no secret that financial management is a critical topic in today’s environment. That’s especially true for institutions like credit unions, which are not only in charge of managing their balance sheet, but also providing and preserving funds so that their

Providing for Shade: 3 Concepts to Incorporate in Your ALM Modeling

Money Management

Providing for Shade: 3 Concepts to Incorporate in Your ALM Modeling

Warren Buffett once said, “Someone’s sitting in the shade today because someone planted a tree a long time ago.” As Buffet’s quote reminds me, I would much prefer to leverage the efforts by others who came before me to my benefit. It just makes sense, doesn’t it?

DEI Change Resistors: How to Break the Cycle at Your Institution

DEI Change Resistors: How to Break the Cycle at Your Institution

For nearly 180 years, cooperatives have been guided by a group of seven principles, including: * Voluntary and open membership * Democratic member control * Member economic participation * Autonomy & independence * Education, training & information * Cooperation among cooperatives * Concern for community These principles light the way for our movement, and all of our

Is Cyber Liability Insurance Worth It?

Risk Management

Is Cyber Liability Insurance Worth It?

There’s no doubt about it – we are firmly cemented in the Digital Age. And in this age, where data breaches and cyberattacks are as prevalent as mobile banking and contactless payments, credit unions find themselves at a crossroads. With our deep-rooted commitment to the security of our members’ information

A Look Ahead: Rate Expectations

Money Management

A Look Ahead: Rate Expectations

The market widely expects the Federal Reserve to begin cutting rates in September of this year, but the big question is, how much will they cut? Right now, Fed Fund Futures is pricing in a 100 percent chance of at least a 25 basis point (bp) reduction, and a 59

Third-Party Wires Service: Your New Payments Sidekick?

Third-Party Wires Service: Your New Payments Sidekick?

Have you ever had a best friend? You know, someone who is always there to back you up or lend a hand when you’re in need? Someone who is a built-in support system? Maybe you refer to them as your sidekick, your wingman, your ride or die – but whatever

5 Reasons Your Credit Union Should Consider the Development Education (DE) Program

Credit Union Movement

5 Reasons Your Credit Union Should Consider the Development Education (DE) Program

Concern for community; cooperation among cooperatives; people helping people; education, training and information …each of these phrases mean a great deal to those of us within the credit union industry. They’re also the foundational phrases of the Development Education (DE) Program. The DE program officially launched in 1982, and

Choosing the Right Risk Management Framework for Your Financial Institution

Risk Management

Choosing the Right Risk Management Framework for Your Financial Institution

What’s the difference between Enterprise Risk Management (ERM); Integrated Risk Management (IRM); and Governance, Risk and Compliance (GRC)? Does it really matter if financial institutions use one of these risk management frameworks? As it turns out, it does. Selecting the right risk management framework empowers financial institutions to meet

If You Dread Sunday Night, Your Job Ain’t Right

Leadership & Culture

If You Dread Sunday Night, Your Job Ain’t Right

I hated my first ‘real’ job because it was counter to how I’m wired. A little background information…I worked in loss prevention for a large regional bank. As you can probably imagine, my days were filled with deception, confrontation and a continuous flow of details. Aside from the

#ILoveMyCreditUnion Day: Live Your Story

Credit Union Movement

#ILoveMyCreditUnion Day: Live Your Story

You know what makes humans distinctly, well, human? To me, it’s our ability to tell stories. Our desire to share experiences, feelings and life lessons with each other through storytelling sets us apart. And the beauty of our stories is that everyone has a different one to tell. We

What Do Beanie Babies, Hot Dogs & Miracles Have in Common?

Credit Union Movement

What Do Beanie Babies, Hot Dogs & Miracles Have in Common?

I’m no Jim Carrey, but I did love him as the Riddler in 1995’s Batman Forever. And in true Riddler fashion, I, too, have a riddle for you! Here it goes: what do Beanie Babies, hot dogs and miracles have in common? I sense some confusion – what could

ALM Management: Less is More or More is Less?

Money Management

ALM Management: Less is More or More is Less?

Growing up, I frequently heard the famous quote from Ludwig Mies van der Rohe, “Less is More”. Maybe you did too. But for me, as a child, this phrase did not resonate with me. Why wouldn’t you put all the possible toppings on an ice cream sundae? It just

Planning with Purpose: 10 Tips to Develop Your Year-Long Security and Compliance Training Program

Risk Management

Planning with Purpose: 10 Tips to Develop Your Year-Long Security and Compliance Training Program

Our team at KnowBe4 recently got together to talk about planning for annual security and compliance training. You might be thinking, “Aren’t you a little late in planning for the year? It’s March already...” We are actually talking about 2025. Not everyone trains millions of learners all around

Beyond the Platform: A Core Built for Partnerships, Not Just Processing

Money Management

Beyond the Platform: A Core Built for Partnerships, Not Just Processing

CU*BASE Core Case Study featuring Lesco FCU From processing transactions and balancing accounts to storing member data and making loan decisions, every single piece of credit union operations hinges on one thing – a core processing system. When viewed through this lens, it’s almost an understatement to say that

Security Review, Assessment, Audit: What's the Difference?

Risk Management

Security Review, Assessment, Audit: What's the Difference?

Football vs. football. They’re two different sports that share the same name (at least, in some places). They also have some skills and attributes that overlap, such as controlling the ball, teamwork, quick footwork and running, scoring points and so on. But, at the end of the day, American

Short-Term Maturities versus Long-Term Maturities: Why Now is the Time to Go Long

Money Management

Short-Term Maturities versus Long-Term Maturities: Why Now is the Time to Go Long

You may recall that in the years following the financial crisis, investors were forced to choose between bad and worse when it came to investment rates. That all changed when the Federal Reserve began their aggressive battle against inflation in March of 2022, and credit unions were finally able to

Why Telemedicine and Telehealth Are Here to Stay

Employee Benefits & HR

Why Telemedicine and Telehealth Are Here to Stay

Telehealth options significantly increased during the COVID-19 pandemic. Convenience and cost-savings are two key reasons why telehealth will be a permanent fixture of our new normal. Telemedicine Telemedicine refers to the delivery of health services such as doctor visits via communication networks and is the practice of medicine using technology.