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Credit Union Times
JUNE 20, 2018 | VOL. 29 | NO. 21 | CUTIMES.COM
Helping members achieve the dream of
homeownership is a source of pride for many CUs,
but a growing trend – mortgage fraud – is casting a
shadow on the process. Learn how to spot and fight
mortgage-related schemes in this Focus Report. Y6
FOCUSREPORT:
FRAUD
MANAGEMENT
Cultivate Leaders Internally
Productive organizations continually evaluate strategies,
make necessary adjustments
and plan for the future. Successful employees do exactly
the same, managing their careers just as they would their
businesses.
“They say to begin with the end
in mind,” said Suzy Johnson, presi-
dent and senior employee benefit
specialist with Employee Benefit
Advisors of the Carolinas in Char-
lotte, N.C. “I have always envi-
sioned achievements and worked
toward them. I have a vision of be-
ing successful in my work while
helping lots of people and, at the
same time, creating financial se-
curity for myself and my family.
That early vision and planning al-
lows me to be open to a multitude
of options.”
Author Stephen Covey popu-
larized the phrase “begin with
the end in mind” in his best-sell-
ing book “The 7 Habits of Highly
Successful People.” This phrase
sums up how employees should
determine where they want to be
professionally and personally at
the end of their careers and then
work proactively to reach their
objectives.
Jim King, owner and wealth
manager with Balasa Dinverno
Foltz LLC in Chicago, recommended this focused approach
at every stage of your career.
“The important thing is to have a
vision and a plan,” he said. “The
most successful people I know
are driven by vision and Y15
Fighting for
CUs
There’s never
a bad time for
advocacy. Y12
Rethinking
Authentication
Learn how to
combat call center
fraud. Y9
WOCCU Spreads the CU Spirit Abroad
he World Council of
Credit Unions has
spent the last 45 years
trying to bring basic financial services to people in parts
of the world that are often poor,
remote and neglected by their
governments and big financial institutions.
In May their work took them
to Puerto Rico, where 3. 3 million
U.S. citizens and thousands of
credit union members are strug-
gling with the aftermath of last
fall’s Hurricane Maria and a terri-
torial government in default on its
debts.
Brian Branch,
WOCCU’s president/CEO since
2011, participated
in an assessment
of credit union
conditions in Puer-
to Rico along with
representatives of the Massachu-
setts-based Cooperative Credit
Union Association and the Na-
tional Federation of Community
Development Credit Unions.
Branch, an economist who has
undertaken credit union assignments in more than 40 countries,
said he was proud that many credit unions reopened within a week
of the hurricane, providing residents access to their cash when
many other financial institutions
remained closed.
MEMBERSHIP
JIM DUPLESSIS
jduplessis@cutimes.com
Y16Branch
CFPB Alters
Landscape
for CUs
REGULATIONS
DAVID BAUMANN
dbaumann@cutimes.com
n 2013, then-Rep. Mick Mulvaney (R-S.C.) complained
that CFPB Director Richard
Earlier this month, Mulvaney,
now the Acting CFPB Director,
So he fired the
members of three
agency advisory
boards.
In one of his
most controversial moves, Mulvaney terminated members of the
agency’s credit union, community bank and consumer advisory
boards, all of whom had been appointed by Cordray.
The firings were the latest
move by Mulvaney to ensure
that the Trump Administration
has a lasting footprint at the
CFPB before the president officially nominates a new director.
The agency has given a variety of
reasons for the firings, ranging
from the cost of providing members with high-priced junkets to
Washington to the bureau’s desire to meet with more diverse
groups of people. Y17
Mulvaney
