Strong internal controls are just one source of prevention.
Supervisory committees are a serious, legitimate option in resolving complaints.
As the CFPB expands its public complaint database, it needs to be educated about credit union supervisory committees.
A credit union chairman shares governance lessons learned when a volunteer was removed.
The $7 million Pennsylvania credit union corrects problems with record keeping, internal controls and governance.
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...
They are Tyson Jones at City County Credit Union in Fort Lauderdale, Fla., and Tammy Gamble at Palisades Federal Credit Union in Pearl River, N.Y.