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Credit Union Times
APRIL 25, 2018 | VOL. 29 | NO. 14 | CUTIMES.COM
CRISIS MANAGEMENT
Training for Active Shooters
The Federal Bureau of Investigation reported almost 46% of all
active shooter episodes occur at
businesses. Workplace violence
results in approximately $121
billion in losses to employers
each year.
Active shooter and other forms
of workplace violence touch
upon multiple lines of insurance
according to Angelo J. Gioia, an
executive with 40 years of experience in the insurance industry
and founder of the Professional
Liability Underwriting Society
and AgentsofAmerica.ORG.
“Any act of workplace violence,
and particularly active shooter
episodes, can result in injury
and/or death, business interruption, property damage and repu-tational damage amongst other
covered losses,” Gioia explained.
“Businesses must take a closer look at their current insurance versus what they may need
in the event of a claim. It is possible that insured entities may
only have the minimum and/
or mandatory coverages necessary to operate their business,”
he added.
Gioia stressed that compa-
nies may have a more significant
exposure and increased risk of
workplace violence if they are:
• Financial and other institu-
tions requiring the frequent
exchange of money;
• In the retail, hospitality,
healthcare and education
fields;
• Involved in protective Y15
FOCUSREPORT:
HUMAN RESOURCES
& BENEFITS
Offering maternity or paternity leave to new
parents is a common practice for
organizations, but some credit unions are
experimenting with a new trend: Allowing
moms and dads to return to work with their
infants by their side. Find out how they’re
making it work in this Focus Report. Y6
Take Steps to Build Member Wealth
JIM DUPLESSIS
jduplessis@cutimes.com
Y16
redit unions have
earned a reputation
for being the go-to
institutions for aver-
age folks needing their first car or
first home without fear of being
lured into a bad deal.
But few members go to their
credit unions to bridge the last
miles of their lives: Retirement.
Most Americans haven’t saved
enough for retirement. In re-
sponse, banks began building
investment arms
in the early 1980s,
and credit unions
started taking in-
vestment services
seriously in the
early 2000s, said
Robert Comfort,
president of CUNA
Brokerage Services
Inc., a subsidiary of CUNA Mutual
Group in Madison, Wis.
Federal law prohibits credit
unions from offering investment
services directly. They have to be
provided through a registered
broker-dealer or a registered investment advisor. Most wealth
management services have both
designations.
CUNA Brokerage Services only
serves credit unions. It has about
430 advisors at 285 credit unions
managing $25 billion in client assets. Annual revenues are about
$145 million.
MARKETING
Comfort
Solve the
Eligibility Issue
Eliminate FOM-relat-ed confusion. Y14
Engaging
Employees
Learn six ways to
inspire staff. Y11
Should CUs
Unfriend
Facebook?
CYBERSECURITY
TINA OREM
torem@cutimes.com
acebook’s recent data
collection and privacy
woes have far-reaching
ramifications, and credit
unions, like many other Facebook users, may find themselves
wondering whether and how they
should change the way they use
the platform. Here’s what two industry pros said credit unions can
do now.
1. Keep up with the news.
“A lot of people are calling this
the Facebook data breach, but
technically this
is not a breach,”
said Sean Darragh,
who is the chief
information security officer and vice
president of data
center operations
for the Austin, Tex-as-based Malauzai
Software, which provides mobile
and internet solutions for financial institutions.
The problem, according to
Facebook, is that a psychology
professor violated the company’s
policies by sharing data he collected from a Facebook personal-ity-predictor app. In downloading
the app, some 270,000 people gave
consent for the professor to access
their profile information,
Darragh
Y17