GREENSBORO, N.C. — In what it describes as a "dramatic success story" of combating counterfeit check and plastic fraud, the North Carolina Credit Union League went public last week with formation of a new CUSO that reportedly is saving bundles for CUs in North and South Carolina.
Officials with the CUSO, Advanced Fraud Solutions, forecast hundreds of CUs in the U.S. will start using the service in the months ahead based on a track record that includes a $4.2 million, two year savings on counterfeit checks at the $1.1 million Allegacy Federal Credit Union of Winston-Salem.
In another testimonial of applying the software technology, the $21 million Health Facilities Federal Credit Union in Florence, S.C. said it saved $4,400 on the first day of installation after branch queries
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