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CUNA Mutual Files for Rate Increases to Buffer Plastic Card Loss

MADISON, Wis. - Since early this year CUNA Mutual has been warning of a "crisis" in credit union card fraud. It has changed policies with its coverage to encourage credit unions to add more security functions and now it is set to push through rate increases.

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MADISON, Wis. – Since early this year CUNA Mutual has been warning of a “crisis” in credit union card fraud. It has changed policies with its coverage to encourage credit unions to add more security functions and now it is set to push through rate increases.

CUNA Mutual Group began last week filing for rate increases with state insurance regulators to help cover a rising tide of losses. It hopes to have approvals by Oct. 1 and begin raising rates as policies come up for renewal.

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