CREDIT UNION TIMES Vol. 2, No. 5 April 22, 1991

Looking back 13 years ago finds credit unions being hit harder and more often by fraud. The number of bond loss claims reported to CUMIS Insurance Society, Inc. jumped 12% in 1990 to nearly 10,000 compared to 8,832 the previous year. Payable claims which are often the result of criminal actions by CU employees or members cost the CU bonding company over $47 million last year. Among the startling statistic trends between 1989 and 1990: officer and director liability, up 100%; employee faith of performance violations, up 26.8%; and embezzlement, up 14.1%. That issue also finds Jax Navy FCU gearing up for the homecoming celebration of Operation Desert Storm veterans. Ads in the local and military newspapers listed the returning squadrons and said simply, “You were there when we needed you. Now we’re here for you and your financial needs.” “We like people in the community, not just those at the Naval air stations, to see our support,” said Jax Navy FCU Marketing Coordinator Dedie Campbell.