Before 2013, Distributed Denial of Service attacks seemed to many credit union executives as something the other guys worried about. The prevailing attitude was: We’re not on anyone’s radar. We aren’t on anyone’s enemies list. Why worry?
Identifying internal fraud risks became a hot topic in 2013 as groups presented webinars and published articles on the topic.
Year 2013 ended with the Federal Reserve’s debit interchange rules still unresolved.
Cyber security, fraud and protecting the tax-exempt status for credit unions are all issues important to readers of Credit Union Times; but apparently, so are cuddly credit union mascots.
The NCUA adopted key new rules in 2013 concerning liquidity, CUSOs and fixed assets.
One credit unions, walking distance from the NCUA that was once a shining star among small credit unions crumbled this year amid allegations of fraud, embezzlement and the suicide of its manager.
About $10 million to $16 million may have been embezzled from the Taupa Lithuanian Credit Union in Cleveland, which would make it one of the largest credit union fraud cases ever.
Changes at the top at some credit unions in 2013 caught some by surprise.
Two big acquisitions topped the news in the core processing for credit unions arena.
Call 2013 the breakthrough year where, suddenly, a mobile banking feature leaped into must- have status, as another feature – once much hyped – continued to fail to win significant adoption.
Credit unions from coast to coast tapped into pop culture, entertainment and social media to raise awareness, engage members and increase revenue in 2013.
Credit unions and other mortgage lenders faced an economic pinch in 2013 as rising interest rates began to squash demand for refinanced mortgage loans while demand for purchase money loans still struggled to grow.
Auto loan portfolios accounted for nearly half of all credit union loan growth in 2013.
Auto buying service CUSO Autoland Inc. embarked on a new path when it was purchased by Mission Federal Credit Union’s CUSO in July.
The NCUA's estimated 2014 corporate assessment range of zero marked the end of a costly era for federally insured credit unions.
Though flawed, Wagner’s article does accurately reveal an uncomfortable truth: Like any successful industry, credit unions are in need of some reflection and soul searching to ensure they are walking their talk.
In less than two weeks, we’ll ring out 2013, a year we’ll long remember as the one where the credit union industry turned a corner and found a smoother path.
During the last 25 years, I have been involved in the investigation of many fraud cases. Some theft was for only small amounts used to purchase personal goods like booze, underwear, jewelry and car repairs. Other cases resulted in millions stolen over long periods of time exceeding 10, 20 or...