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CSS renews alliance with Perimeter E-Security

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MILFORD, Conn. and MADISON, Wis. (4/21/11)--Perimeter E-Security, a provider of information security and secure messaging services, has renewed its strategic alliance with CUNA Strategic Services (CSS). “The credit union conundrum is clear,” said Tim Harvey, CEO of Perimeter E-Security. “They have to address the same regulatory and security challenges as major financial institutions with significantly limited internal resources. We’re grateful for CSS’ continued support of Perimeter. Since we comply with the same rigorous industry oversight as credit unions, we’re best served to deliver security and messaging solutions that meet the complex compliance needs and threats facing smaller financial institutions.” Perimeter’s centralized architecture offers pre-integrated technology with complete redundancy and continuous upgrades, complemented with a 24/7 engineering staff. “Perimeter delivers the most comprehensive compliance, security and messaging services, providing state-of-the-art, yet affordable, solutions for credit unions of all sizes,” said Wes Millar, senior vice president of CSS. “Since 2006, we have recognized Perimeter as the clear choice for credit unions with its proven track record in the financial services industry.” Perimeter protects over a half-trillion dollars in assets for more than 6,000 customers, including 500 credit unions. With 80 petabytes of managed archives, the company also filters 50 million e-mails and handles 240 million security events every day.

Second Discovery webinar addressed lending opportunities

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MADISON, Wis. (4/21/11)--Current economic and regulatory conditions provide credit unions both positive and challenging trends, but opportunities for loan growth exist, CUNA Mutual Vice President of Lending Dan Kaiser told more than 1,150 registrants during the second Discovery Webinar of the 2011 series. Kaiser’s presentation, “The Road Ahead: Making the Most of Every Lending Opportunity,” provided a blend of lending and marketplace trends that impact credit unions and their members. “Consumers are understandably jittery,” said Kaiser, describing the Jitters Index, which measures home-centric economic concerns, including taxes, living expenses and the instability of employment and investment data. But the numbers also indicate a slow recovery of home prices, employment and auto loans. “We’re beginning to see a rebound in vehicle sales, which is good news for lending and for consumers,” Kaiser said. “The trends are predicting an upturn in loans starting this year, but extending over the next few years." With six of every 10 American adults using wireless Internet services, mobile banking use is expected to increase. According to Pew Research, 27.4 million Americans actively use mobile banking, and that figure is predicted to double in the next two years. “Mobile banking is clearly taking over the online channel,” said Kaiser, adding credit unions should embrace mobile technology to attract members. Other free 2011 Discovery events:
* May 24--“Technology Strategies and Trends,” presented by Rick Roy, CUNA Mutual senior vice president and chief information officer; * June 18-21--Seventeen Discovery sessions, which will be offered at CUNA's America's Credit Union Conference;

* July 19--Regulation double-feature, presented by Bill Klewin, CUNA Mutual associate general counsel and director of lending compliance, and Brad Pricer, CUNA Mutual employee benefits product manager; and * Oct. 4--Second Annual Online Discovery Conference.

CUSO launches CU Rx risk management services

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JACKSON, Mich. (4/21/11)--CP Financial Services LLC, a credit union service organization (CUSO) of $323-million-asset CP FCU, Jackson, Mich., has launched CU Rx, a new risk management and compliance service created to exclusively serve credit unions, and a companion website. CU Rx offers review and audit services with risk management, fraud, compliance, and regulatory best practices solutions. It also offers credit unions an alternative to hiring legal firms or accounting firm auditors to complete audits by providing lower cost expertise. “We know from personal experience it’s difficult for credit union executives to find the time necessary to go through the process of a quarterly or annual risk management review process,” said CU Rx President John Crist, who also serves as president/CEO of CP FCU. “It’s no secret that keeping up with new regulations or changes is a tough chore, but it’s critical for the protection and health of any credit union’s reputation and operational success.” After CU Rx conducts a review and audit, the CUSO produces a risk matrix exposing the client’s vulnerabilities and areas of non-compliance. The CU Rx staff evaluate the credit union’s existing policies and controls from the identified risks, and look for control weaknesses. The final recommendation includes strategies and tactics for improving those policies, procedures and controls. Training also is offered to ensure the credit union’s staff understand compliance on specific regulations and best practices, and to avoid the risks or issues that surfaced in the review process. “From the review process forward, our primary focus is to help each client improve their specific risk management and compliance capabilities,” said Chrissy Siders, vice president of operations for CU Rx. “Customizing the solutions that evolve from the review and audit process is one important way CU Rx delivers that help; it’s not a cookie cutter approach. We show them how to adapt and comply so that the compliance or regulatory best practices fit within their operations. Residual benefits include their time and personnel resources are freed up, and they become much better prepared for annual reviews with National Credit Union Administration and state examiners.”