This is the question many credit union boards are asking their CEOs these days, including mine. But perhaps the real question is, “Although we know a certain amount of fraud is an inherent part of card issuing, is it manageable?” I believe the answer to this question is yes.

I’ve read the articles from CUNA Mutual Group that state that card fraud losses have accelerated at an unprecedented rate and that, understandably, CMG cannot continue to provide plastic card coverage to credit unions without increasing premiums and deductibles. While I would in no way wish to diminish the severity of the problem from CMG’s perspective, I do believe that plastic card fraud is manageable and insurable if we all work together.

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