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CU Service Centers Network elects McClosky to board

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DULUTH, Ga. (3/10/11)--Bob McClosky, president/CEO of Market USA FCU, Laurel, Md., has been elected to the board of directors of the Credit Union Service Centers Network Inc. (CUSCNI). The board met for its 18th annual meeting in Washington, where it elected officers and established direction for 2011. CUSCNI represents two national shared-branching networks, CO-OP Shared Branching and FSCC (Financial Service Centers Cooperative Inc.). The organizations work cooperatively through CUSCNI to maintain shared-branching standards, rules and member experiences. The officers and other incumbent directors, include:
* Chairman Bill Raker, president/CEO, US FCU, Burnsville, Minn.; * Vice chairman Steve Stapp, president, San Francisco (Calif.) FCU; * Secretary/Treasurer David Osborn, president/CEO, Anheuser-Busch Employees CU, St. Louis, Mo.; * Doug Allman, president/CEO, NASA FCU, Upper Marlboro, Md.; * Stan Hollen, president/CEO, CO-OP Financial Services, Rancho Cucamonga, Calif.

Verafin white paper tackles combining AML fraud processes

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ST. JOHN’S, Newfoundland (3/10/11)--Verafin Inc., a provider of compliance, anti-money laundering (AML) and fraud detection software, issued a white paper on the convergence of the anti-fraud and AML processes. Verafin is a CUNA Strategic Services provider. The white paper offers a scenario in which a financial institution identifies an opportunity to synchronize its AML and fraud investigations. As the paper describes, institutions that consolidate their AML and fraud detection efforts must overcome two obstacles:
* The legacy of the different approaches used to achieve separate AML and anti-fraud goals; and * The constraints imposed by the adoption of the solutions that rely on first-generation (rules-based) technology.
The white paper then presents a combined fraud and AML (FRAML) approach for the given scenario. Fraud and compliance professionals will learn how the FRAML approach can help break down departmental silos by engaging and integrating three key FRAML components: people, processes and technology. The result is improved communication, efficiency and effectiveness, said Verafin.

Illinois CUs begin FiCEP program

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NAPERVILLE, Ill. (3/10/11)--More than 20 individuals from Illinois credit unions are participating in the REAL Solutions Enhanced Financial Counseling Certification Program (FiCEP), as a result of support from the Illinois Credit Union (ICU) Foundation. As the Credit Union National Association’s (CUNA) Financial Counseling Certification Program, FiCEP allows credit union employees to become more confident in helping members build stronger financial futures. Modeled after the CUNA Certified Financial Counselor Schools, FiCEP includes two parts with four learning modules each. When participants successfully complete the proctored exams for the eight modules they are designated as Credit Union Certified Financial Counselors. In addition to the self-study materials, the program includes eight webinars, which will review the printed materials and add real-life experiences, and two in-person meetings, which will feature networking, education and proctored exams. Module topics include: introduction to financial counseling; financial counseling essentials; special issues in financial counseling; using communication skills during financial counseling; taxes, insurance, and investments; controlling living expenses and understanding consumer credit; matching values to money; and retirement and special issues. The webinars will be held at 10 a.m. CT on select Tuesdays from March to July and will be recorded. Two in-person meetings with proctored testing sessions will be held at the ICU System Center in Naperville, Ill. An orientation webinar will also be offered. “The end result of the training will be numerous credit union executives who will be equipped to help members attain their financial goals and provide another example of how the movement is fulfilling its mission,” said Vicki Ponzo, executive director of the ICU Foundation.