Payments

International Fraud Awareness Week: Credit-Push Fraud

Spooky season is behind us, but that doesn’t mean there aren’t still people masquerading themselves as someone they’re not. In fact, people disguising themselves and pretending to be someone else is quite common, especially when there is an opportunity for financial gain. According to the Federal Trade

Money Management

A Look Ahead: Expectations for the Markets & Economy in 2024

You’d think after nearly four years of pandemic-induced financial hysteria, we would’ve seen it all. But that wasn’t the case – not even close – as we continued to weather many storms in 2023. As 2024 closely approaches and we try to prepare ourselves for what’s next, we

DEI

Breaking Barriers & Building Bridges: 7 Steps to Building a More Inclusive Workplace

Can you believe it was four years ago now that diversity, equity and inclusion (DEI) was added as the eighth cooperative credit union principle? I don’t know about you, but it seems like it’s been longer than that, as our movement has always valued the unique differences and

Risk Management

5 Reasons Why a Password Manager is Worth the Investment

If you’ve spent any amount of time in the financial industry, you’re probably familiar with the dos and don’ts of passwords: DO: * Use various upper-case and lower-case letters. * Make sure it is at least eight or more characters in length. * Include special characters. * Create strong, hard-to-guess passwords.

Credit Union Movement

In a Season of Change, the Credit Union Purpose Remains the Same

It’s that time of year again when the leaves begin to transform from a deep green to vibrant hues of red, orange and yellow. The air has an extra chill to it, and the days become shorter, as we inch closer to the Winter Solstice in December. And in

Risk Management

5 Ways to Take the Uncertainty Out of Compliance Audits

They say that death and taxes are the only certainties in life. But in the credit union world, there’s a third certainty – the annual compliance audit. Whether that has the same dreaded connotation as death and taxes is subjective, but it’s probably safe to say that it’s

Payments

All the Buzz About The FedNow® Service

Word around the hive is there’s a new “queen bee” in town, and I’m here to tell you that it’s true! (Although, someone might want to break it to Beyoncé.) There is a new payments rail buzzing about — called The FedNow® Service. This new instant payment rail

Credit Union Movement

#CUKindDay: Because Kindness is a Language We All Understand

Aesop was a Greek storyteller who shared his fables with the world. Anne Frank became the voice of resilience while facing Nazi oppression during the Holocaust. Morgan Freeman is a beloved and accomplished actor who gave us The Shawshank Redemption and other unforgettable films. Mark Twain was a celebrated American

Money Management

The Ingredients for a Strong ALM Program

When’s the last time you baked a cake for a special occasion? Or tried your hand at a new recipe for dinner? Even if you’re a pro in the kitchen, chances are you still probably utilized some of the basic ingredients, right? Otherwise, you might run the risk

Risk Management

Credential Theft: A Cybercriminal's Treasure Trove

Long before Johnny Depp stole our hearts as the quirky and selfish, yet still loveable Captain Jack Sparrow, there were real pirates. It’s true, he probably was the “worst pirate we’ve ever heard of” because he actually had a conscience – something the real ones did not…and still

Risk Management

Regulatory Rundown: New Vendor Management Guidance

By now you’ve probably heard that the federal agencies have finalized the Interagency Guidance on Third-Party Relationships: Risk Management. It replaces existing guidance and aligns vendor management requirements among the Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve. Here’s

Leadership & Culture

The Most Important Decision a Credit Union Can Make

There is one decision most credit unions make on a regular basis that can determine the success or sub-optimization of the credit union’s performance. It has nothing directly to do with which product to offer or which system to implement. It isn’t about what strategy to create or

Money Management

The Fed's Battle Against Inflation: Challenges or Opportunities?

Over the past year, we’ve seen an epic series of interest rate hikes by the Federal Reserve that began in March 2022. So much so, that some debate remains on whether we’ve seen the last rate hike or if the Fed will decide to raise one final time

Risk Management

Business Continuity Management & Enterprise Risk Management: The Super Duo of Resilience

To quote one of the world’s most famous and influential fictional characters, “Jenny and me was like peas and carrots!” Just as Jenny and Forrest Gump were two halves of one soul – or as Forrest so eloquently said, peas and carrots – I know another super duo that fits together

Money Management

Goldilocks and the ALM Model

Do you remember the story of Goldilocks and the three bears? You know, the one where a little girl happens to find the home of three bears in the woods. She goes inside and eats their bowl of porridge. One of the bowls of porridge is too hot; one is

Credit Union Movement

Bringing Backstage Workers Into the Spotlight: #ILoveMyCreditUnion Day

Most people who know me, know of my love for watching movies, so naturally I’m subscribed to many streaming services; my favorite being Disney+. My family and I enjoy sitting down and watching them together with popcorn and candy, of course, because what’s a movie without popcorn and

DEI

Celebrate Disability Pride Month: A Little Means So Much

Thomas Edison. Stephen Hawking. Esther Vergeer. Do you know what all these individuals have in common, other than being famous for their remarkable contributions to society? They were all disabled in one way or another. But, despite their disabilities, they persevered, paving the way for what we now recognize as

Risk Management

How to Create an ERM Report That Tells a Story

Picture yourself, for a moment, back in kindergarten. You were just learning how to read with short sentences and lots of pictures. Over the years, throughout the rest of your school career and into adulthood, the stories evolved from two and three-word sentences accompanied by lots of illustrations to long

Risk Management

Risk Management Controls: A Primer

Risk management is a critical aspect of banking operations. However, one area that often draws resistance is risk management controls. The concept may seem intimidating or overwhelming, but when you break down the components, you’ll find risk management controls aren’t nearly as complicated as you think. Understanding Risk

Credit Union Movement

10 Years of Hot Dogs, People Helping People & Miracles

Hot dog…it’s that time of year again!!  Vizo Financial is hosting its 10th anniversary event of our signature Hot Dog Eating Contest to benefit Children’s Miracle Network (CMN) Hospitals at Penn State Health Children’s Hospital on Wednesday, July 19, at 3:30 p.m.  Over the

Risk Management

Rising Cost of Eggs, Gas and…Cyberattacks?

Every time we go to the grocery store, we’re reminded about the rising costs of groceries. Meat, eggs and even butter prices have all suffered at the right hand of inflation. In fact, according to the U.S. Bureau of Labor Statistics’ Consumer Price Index, eggs increased 70 percent

Money Management

Bank Term Funding Program: The Fed’s Solution to Liquidity

How can you solve a problem like liquidity? In today’s world, that’s a tricky question. Luckily, the Federal Reserve has a solution that might just interest your credit union. It’s called the Bank Term Funding Program (BTFP), and it’s a relatively new lending program available to

Payments

The FedNow Service Saga Continues: What’s Next?

By now you know that the next chapter of the FedNow℠ Service – the official launch – has been slated for July. With only a few months until then, we wanted to share some additional information and next steps for us here at Vizo Financial, but also for your credit union, so

Leadership & Culture

Let Your Employees Bloom!

Before spring officially sprung here in Pennsylvania, we had the pleasure of experiencing a few days of early spring. In between the gray, cold and wet days, we had one or two days of beautiful blue skies and warm sunshine. The unexpected spring gave flowers the courage to sprout from

Risk Management

Why Check Fraud Isn’t Going to Magically Disappear Any Time Soon

You know what fraudsters and magicians have in common? The element of distraction, a masterful grasp on the sleight of hand and a penchant for trickery. The difference? One simply wants to entertain the masses while the other seeks to deceive for personal gain. In this age of multiple payment