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Industry groups form CU Risk Council
ST. PETERSBURG, Fla. (2/28/08)--Nine credit union industry institutions and groups have formed the Credit Union Risk Council to help credit unions develop and deploy effective risk management activities. Participants include the Card Services for Credit Unions, Credit Union Card Center, Credit Union 24, CUNA Mutual Group, The Members Group, Pemco Technologies, Pennsylvania State Employees CU (PSECU), PSCU Financial Services and TNB Card Services. The Credit Union National Association, Federal Bureau of Investigation, MasterCard, The National Association of Federal Credit Unions, U.S. Postal Inspection Service, and the U.S. Secret Service will be advisory participants. “The cooperative environment is the best way to combat fraudulent activities and allow the credit union industry to develop effective deterrents that ensure lower risk for the credit unions, as well as the safety of members’ account and financial information,” said Jeff Russell, vice chairman of the Risk Council and chief innovation officer for The Members Group. The council’s membership also will include a small number of credit unions, such as PSECU, that perform in-house risk management and data security processing, Russell added.


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