TOPIC: Credit Union

Leading a Successful Software Implementation: Best Practices for Optimizing Change Management | Free Whitepaper

In today’s financial institutions, implementing software is becoming a regular occurrence. Alarmingly, only 35% of IT project implementations are successful. The good news is that one frequent reason software implementations fail can be prevented with the support of your software partner.

This whitepaper provides best practices for managing “the people side of change,” or change management, to maximize returns on your technology investments. 

Download this whitepaper to learn:
  • How to build internal support and set clear goals
  • How to assemble a successful project team and prepare end users
  • How to ensure success with a post-implementation plan
Download the free whitepaper

    Annual Conference Registration Now Open - BSA/AML, Compliance, Credit, Lending, ALM, CECL - ThinkBIG

    May 25 - 27, 2021 | San Antonio, TX
    Virtual and In-Person Options Available

    Register here 

    Join Abrigo’s industry-leading conference for fresh ideas on how to drive growth and manage lending, portfolio, and financial crime risk. We’re excited to meet in person this year, but understand it might not be possible for everyone, so we’re also offering virtual attendance and will pivot to all-virtual if warranted. For more than two decades, Abrigo’s conferences have been educating lenders, risk professionals, and BSA/AML professionals, and we are excited to bring ThinkBIG: Manage Risk. Drive Growth. and ThinkBIG: Fight Financial Crime conferences together for one BIG event. Your financial institution’s need to grow and manage risk doesn’t go away just because COVID-19 isn’t contained yet. In fact, now more than ever, bankers need to think bigger to be able to help your communities survive and win.

    Conference Tracks

    CECL + PORTFOLIO RISK | LENDING + CREDIT RISK | BSA/AML + FRAUD

    Register today -- Early Bird pricing ends January 31st! 

      SEG Listing

      Manager at a credit_union ($59MUSA)
      Does anyone know where I can obtain a listing of a Credit Union's SEG's? We have list we manually update through the years, however I am not sure it is accurate. 

        Strategic Due Diligence on Higher Risk Customers | Free Webinar | Earn 1 CAMS credit, 1.25 CAFP, CERP, & CRCM credits

        Monday, November 30, 2020
        2:00 PM ET / 1:00 PM CT
        Register

        Conducting Due Diligence is nothing new for BSA professionals, but the events of 2020 made compliance professionals across the country view the requirement in a whole new light. What has the industry learned about strategic Due Diligence in 2020 and how can we use that intelligence to improve our compliance programs in the new year? Join this session to learn the latest on CDD, EDD, and best practices for Due Diligence in an increasingly digital world. 

        Join this session to learn:
        • How Due Diligence has changed in 2020, and how can it be strategic? 
        • What gaps you may have in your current Due Diligence program  
        • Best practices for Due Diligence in an increasingly digital world 
        • What you can do to improve your Due Diligence in 2021 
        This session is eligible for 1.25 credits CAFP, CERP, & CRCM

        Click here to secure your seat! 

          IRS CP-2100 Notice

          Manager at a credit_union ($291MUSA)
          Hi, 

          If you are a Symitar-Epysis user and utilize your system to track and correct your members IRS TIN/Name matches would you please let me know?  We've researched e-docs however I'm a little leary of making these changes as I'm not sure what else they may affect. 

          Thank you, 
          Tonya Doxey
          tdoxey@oleanfcu.com

            BSA/AML Day - October 26 | Share Your Story!

            Celebrate BSA/AML professionals on the nationally recognized BSA/AML Day on October 26!

            Share your biggest BSA/AML win with us for your chance to be featured!

            Not all superheroes wear capes. Sometimes, they wear business suits, dresses, or jeans and are found in the back office of financial institutions. These superheroes are also known as BSA/AML professionals and they play the important role of protecting our financial system and our country.

            The Bank Secrecy Act (BSA) was passed by Congress in 1970 in an effort to better protect the United States financial system from money laundering and financing of criminal activities. For the past 49 years, BSA and AML professionals have been working tirelessly to protect our financial system around the clock. They are the first line of detection for money laundering and terrorist financing and play a vital role in uncovering criminal activity that poses threats to the United States and its citizens. Following the terrorist attacks of September 11, 2001, the Bank Secrecy Act was strengthened, with the introduction of the USA PATRIOT Act (Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism). The USA PATRIOT Act was signed on October 26, 2001, cementing the important role BSA/AML (anti-money laundering) professionals play in the financial industry. This level of national protection is deserving of recognition, which is why on October 26th, the signing anniversary, we show our gratitude and appreciation to these superheroes.


              Contacting your customers/members

              Employee at a credit_union ($291MUSA)
              We are looking at different avenues for contacting members/customers regarding transactional info on their account; not marketing.  We have some that are not responding to mailed letters or phone calls regarding their dormant accounts and we are considering emails.  We have read the CAN-SPAM reg and will not be marketing to them and will still include the option to "opt out".  We have staff that want to use facebook messenger, but I don't feel social media messaging is the way to go.  Do you use any social media messaging to contact your members?  Do you have a sample of your authorization that your customer/members sign?  We will be running this by legal, but wanted to see what others are doing as we update our policies and procedures. 

                Reg Z Asset Size Threshold

                VP at a credit_union ($10MUSA)
                We are a small credit union; just under $10 million in assets. Does Reg Z apply to us? Particularly the disclosure requirements? We currently do not do mortgages; just closed-end personal loans. Can you provide a cite to the pertinent section of the regulation? Thanks.

                  Fiserv Frontier Account Reconciliation Software

                  VP at a credit_union ($1.3BUSA)
                  To credit unions who utilize Fiserv Prologue for the general ledger core system, do you utilize Fiserv's Frontier Account Reconciliation Software?  If so, do you find significant benefit in streamlining your general ledger account reconciliation process with much stronger controls and efficiencies?  I would appreciate any feedback on this solution.  Thank you!