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Back to Basics: Mitigating Money Laundering Risk in Credit Unions
Maximize Your Credit Unions Savings & Simplify Wire Transfer Operations
Millennium Corporate Credit Union offers an overnight liquidity account for credit unions to maximize earnings on excess funds. They provide balance-tiered earnings with competitive rates, low minimum balance requirements, and unlimited no-fee account transfers. Partnering with them also gives access to payment transfer experts for wire transfer and ACH processing, ensuring competitive rates and exceptional service tailored to specific needs.
Venminder Announces Insightful Podcast on Fintech’s Impact on Credit Unions
Today, Venminder, a leader in third-party risk management solutions, is excited to announce the release of a thought-provoking podcast that delves into the transformative effects of financial technology (fintech) on credit unions. The podcast features an in-depth discussion with industry experts Barb Lowman, President at CUNA Strategic Services, and Idrees Rafiq, Information Security & Risk Management Consulting, Vice President at Cornerstone Resources.
Pay Transparency FAQs: What You Need to Know About These New Laws
Pay transparency used to be a taboo topic, but shifting cultural norms and new legislation are altering how Americans perceive compensation. Pay transparency, a practice gaining acceptance in the U.S., is not just about disclosing salaries. It's a powerful tool that can help reduce pay gaps between different employee demographics. For job applicants, it provides critical information about open positions, helping them make informed decisions. More importantly, it has the potential to foster trust, engagement, and productivity within organizations that embrace it, inspiring a positive change in the workplace.
Top Phishing Scams Continue to Improve and Grow
Cybercriminals are constantly improving their phishing tactics to steal valuable information. It's important to stay informed about common phishing scams to protect against them.
The Benefits of Rate Sensitivity & Core Deposit Studies for Credit Unions
Given the current unpredictable financial climate, credit unions must actively monitor interest rate risk and maintain financial stability. AIM, the Asset & Investment Management team at Millennium Corporate Credit Union, provides rate sensitivity analysis and core deposit studies tailored to your credit union's needs.
Stay Responsive to Regulatory Changes with Advantage
Join Sean York and Cheryl Lawson in their enlightening discussion on how to stay compliant with the changing regulatory landscape for overdraft services. They emphasize the importance of continuous education and staying proactive to mitigate risks and protect your institution.
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Did Your Broker Move Away? See the Difference a Credit Union Focused Partner Can Make
In the last decade or so, many broker-dealers expanded into the credit union space to increase their client bases and drive revenue, but that trend appears to be reversing. Due to high rates and low liquidity, credit union investment volumes hit decades-low volumes in 2023, so it's no surprise to see many of these firms moving away from the Credit Union Movement. As a credit union, you need partners that will stand with you through thick and thin. This is who Catalyst is, and what Catalyst does. That’s the value of partnerships…a true relationship.
Relationships overcome technology supply constraints
Preview for the Resources Blog - ODP Business Solutions secured a multifunction printer for a healthcare provider through their strong relationships with vendors, even during a time when supply constraints throughout the industry made this issue almost impossible. Read more to find out how.
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NCUA Released Capital Stress Test Scenarios. Now What?
NCUA stress test scenarios have been released. Covered credit unions are required to complete the modeling scenarios by May 31. Catalyst can help.
70% of Smaller Financial Institutions See Surge In Trending Fraud Attacks
Fraudsters are taking advantage of common activities such as refueling your car or withdrawing money from an ATM. These fraudulent attacks occur frequently and smaller financial institutions are particularly vulnerable. To prevent such attacks, it is important to stay informed about the latest trends in fraud and take proactive measures. Read on to learn more about some of the current fraudulent attacks and how to prevent them.
Getting Fintech Innovation to Market in Record Time
The financial industry is constantly on its toes, ready to innovate when new consumer, regulatory, or technology trends emerge. However, the ambition to be first to market comes with challenges that can hinder even the most innovative organizations. Time, talent, and investment dollars are all limited resources and not having enough of these can impede a company's ability to beat the competition to the market.
Ty Bennett to Keynote Millennium Corporate Credit Union 2024 Annual Meeting
Join Millennium Corporate, Ty Bennett, your credit union colleagues, and a team of talented speakers at the 2024 Annual Meeting in Kansas City!
Rethinking Overdraft Services for Your Credit Union to Remain Proactive
Evaluating your overdraft strategy is crucial, especially in light of the increased scrutiny and regulations to eliminate risky overdraft practices. The solution to this issue is straightforward: provide an overdraft service that is fully disclosed and has fair and reasonable fees. ADVANTAGE can assist you in achieving this goal.
NCUA issued an Advisory on Liquidity Risk Management
The NCUA issued an Advisory on Liquidity Risk Management. Here are four solutions that can help your credit union align with this advisory.
Real-Time Detection Solution Mitigates Check Fraud
In 2022 alone, financial institutions issued 680,000 reports of check fraud to the Financial Crimes Enforcement Network – an increase of 94% over the previous year. Lacking adequate security and detection controls can lead to significant financial loss.
Digital Loan Payment Process Solves Challenges
Adding a digital loan payment service can answer challenges credit union’s face. Here is a case study from a credit union in Texas that implemented Catalyst’s CU LoanPay solution.
Federal & State Labor Law Posters
As we prepare for 2024, one area of compliance often overlooked is labor law posters. Typically, the new year brings many legislative changes (minimum wage, paid leave, etc.) that employers are required to communicate to their workforce.
Overdrafts: Service Fee or “Junk” Fee?
In President Joe Biden’s State of the Union address on February 7, he called on Congress to crack down on “junk fees.” He defined the term in his address as “those hidden surcharges too many companies use to make you pay more.” Among those attributed to this murky category were charges related to overdraft services.
How to Fight the Deposit Slump
Few people get excited about basic banking, however, credit unions can augment mundane banking functions with unique lifestyle-based banking features.
White Paper: Strategies to Unlock Efficiencies in Modern Lending Programs
For over 100 years, credit unions have played a crucial role in the financial ecosystem by providing members with access to affordable loans.
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