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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,