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Credit Union Times

DECEMBER 23, 2020 | VOL. 31 | NO. 24 | CUTIMES.COM

Must Reads

EMPLOYEE BENEFITS

Building a DEI Benefits PlanThe phrase diversity, equityand inclusion (DEI) describesa range of employee concernsthat have gained prominence inrecent years, but the events of2020 have further elevated theissues around DEI. The deathof George Floyd and the explosion of Black Lives Matter protests showed a hunger amongthe American people for thecreation of a more just and equitable society. And the business world has seen that hunger translate into a demandfrom workers that companiesdo more than pay lip service toDEI.

As a result, a growing numberof businesses are moving for wardwith new attempts to addressDEI topics using rapidly evolvingbenefits strategies and ideas. Although not all of these efforts willbecome common practices, thesense among benefits experts isthat it’s better to experiment withnew ideas than rely on the statusquo. And many HR professionals say the upside of addressingthe new demand for attention toDEI far outweighs any potentialdownside.

A Historic Moment

The civil rights protests of 2020were seen by many as a watershed moment that is creatingreal change. Although movements to address racial injusticehave a mixed history of success,many employers say the demandfor more attention to Y16

CU FraudFalls in2020

PETER STROZNIAKpstrozniak@cutimes.com

redit union insiderfraud cases did nottake a holiday in2020, but they substantially declined, presumablybecause of the coronavirus economic and health crisis.

There were 10 internal fraudcases, and three former creditunion employees who were convicted and sentenced for embez-zlement/theft crimes, for a total of13 fraud cases this year prosecuted in federal, state or local courts.That number is quite low compared to 2019, when there were anestimated 15 insider fraud casesand 17 former credit union employees who were convicted andsentenced for embezzlement/theft crimes, for a total of 32 criminal cases. External fraud casesthat victimized credit unions werenot counted in these totals.

This year, however, there wereseven violent andtragic events thatoccurred at creditunion branches(see sidebar).

Henry Wirz, retired president/CEO of the $3.6 billion SAFE Federal Credit Unionin Folsom, Calif., who frequentlycomments on credit union Y18

CU MANAGEMENT FOCUSREPORT:HINDSIGHT IS 2020

The public health and economic crisis of 2020blindsided us all. In this Focus Report, expertsreflect on the challenges and lessons learned inthe credit union space this year, and predictwhat might be in store for 2021. Y6

ConsumerExpectationsLearn how to leadthem – not justrespond. Y14

Auto

Financing

CUs can continueto count on it in

2021. Y7
he Trump Administra-
tion will leave a legacy
of deregulation, the
leaders of the three
major credit union groups said
recently.

As the administration ends,
CU Times asked CUNA Presi-
dent/CEO Jim Nussle, NAFCU
President/CEO B. Dan Berger and
NASCUS President/CEO Lucy Ito
for their thoughts on the past four
years.

Here is what they had to say.The answers have been lightlyedited for space, grammar andclarity.

CU Times: How has the Trump
Administration treated credit
unions?

Nussle: The Trump Administra-
tion was receptive to working with
CUNA and the leagues to remove
barriers for credit unions, en-
abling us to better serve consum-
ers and businesses. They rightly
recognized that regulatory burden
subjects credit union members to
higher loan rates, fewer services
and products, and delayed ac-
cess to modern
technology.