All credit unions have to battle fraud these days, but in Spokane, Wash., a few credit unions are taking the fight to a new level — some of their employees are becoming commissioned fraud investigators with the local police department.
The move — done in partnership with the Spokane Police Department — dramatically increases the chances of apprehending fraudsters, according to Mark Smith, who is CEO of Sears Spokane Employees Federal Credit Union and a commissioned fraud investigator. That credit union has $5 million in assets and about 600 members.
"When you're commissioned, it gives you the ability to interact with law enforcement on a different level," he explained.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
