ICUL Service Corporation
 
 
February 2012
 
 

 

Educational Opportunities 

During the current low interest rate environment, some credit unions in search of yield have increased their holdings of longer term assets. Regulators have raised concerns about credit unions taking on more interest rate risk, as this would cause the value of these long term assets to drop.  It is imperative that credit unions position themselves to be able to sustain sudden rate shocks to the market. Join us for the Tips to Managing Interest Rate Risk Webinar on February 9 (Session Code: 423) where we will discuss:

  • What do the regulators say about managing interest rate risk?
  • Impact of long term assets;
  • GAP analysis vs. other methods;
  • What will the examiners look for when they come to your credit union?; and
  • Policies.

It's a fact: Net interest margins have been squeezed for years and will continue to be tight. Credit unions have been relying upon non-interest income (fees) to help make up the difference. But what is the future of fee income? Is it a strategic income item? Can it be earned from members and non-members? Can it be earned off the balance sheet as well?  At the Strategies to Increase Non-Interest Income Webinar, to be held on Feburary 14 (Session Code: 424), find out how non-interest income can be managed in a way to balance the needs for financial health - for both credit unions and members.

 

The Introduction to Lender Flood Compliance, a special 90 minute QuickBites on February 15 (Session Code: 426), will provide a basic introduction to flood insurance compliance. It targets staff new to the industry and/or flood compliance. This session will introduce attendees to the National Flood Insurance Program and how it works, its compliance history, and the basics of the mandatory purchase requirements as established by the National Flood Insurance Reform Act of 1994.  This fast-paced session will specifically address the following:

  • When and where flood insurance coverage is mandatory;
  • How much insurance is required;
  • How to conduct proper notification procedures;
  • Elements of a well-documented loan portfolio;
  • How to avoid common compliance problems;
  • How to correctly use and re-use the Standard Flood Hazard Determination form; and
  • Discuss escrow requirements and penalties for non-compliance.

The adoption of Check21 standards has made it possible to not only replace paper check exchange and settle with that electronic image simply, but it has also fostered even less expensive technology to create and exchange those check images as well. On February 16, the Getting Serious About Remote Deposit Webinar (Session Code: 427) will share innovations that credit unions and competitors have brought to the market for remote capture and transmission of check images. From small business oriented dedicated terminals, to basic multi-function scanners, to Apple and Android smart phones, remote capture devices are transforming standards of service and convenience. Join in to discover best practices, identify common challenges and review the related regulatory and security issues.

 

The Internet Lending QuickBites on February 22 (Session Code: 428) will present trends in the financial area that reflect the consumer's preference in doing banking. As a matter of fact, Ally Bank, ING and USAA have already positioned themselves nicely for capturing future business -- have you? This session will give ideas and best practice programs that allow for your members to find remote channels (Call Center and Internet) to be a great solution for "time starved" individuals just like you and most of America.

 

Cyber thieves have been compromising accounts through online banking systems at break-neck speed.  Password stealing banking Trojans, such as Zeus, have become more prevalent, making most forms of two-factor authentication ineffective. Credit unions have experienced their fair share of online banking fraud. Once the cyber thieves gain access to an account through the online banking system, they transfer funds to accounts at other institutions, foreign and domestic. Cyber thieves are even compromising credit union accounts at third party providers of electronic funds transfer services.  The Online Banking Risks Quickbites, to be held February 23 (Session Code: 429), will include an overview of the following: 

  • How cyber thieves infect computers with banking Trojans; 
  • Updated authentication issued by the Federal Financial Institutions Examination Council; 
  • Mobile banking; and 
  • Loss case studies.

The Robbery - Premise and Building Security QuickBites, to be held February 28 (Session Code: 430), will provide a detailed review of the fundamentals of the crime of robbery and theft prevention for small to mid-sized to large credit unions. We will focus on "Premise and Perimeter Security" and a credit union's response protocols. Discussion topics will include: 

  • Robbery/theft prevention awareness;
  • Robbery response procedures;
  • Security systems;
  • Employee screening;
  • Opening/closing procedures; and
  • General premise security.

Bank Secrecy Act training is available on demand!  The Bank Secrecy Act requires that all frontline personnel be trained on money laundering and the responsibilities of the financial institutions on currency reporting and suspicious activity every year. See the ICUL education calendar for the schedule of BSA on demand training and all QuickBites and Telecourses.

 

Also now available on demand for 2012: Financial Exploitation of the Elderly. Elder abuse training – regarding financial exploitation of the elderly -- is now required for employees and officers with direct customer contact. Examiners will be collecting information about your credit union’s training on this subject, as IDFPR is required to report training data on a bi-annual basis.  This QuickBite will meet the training requirements and will cover:

  • Terminology; 
  • Illinois statutory protections;
  • Recognizing the indicators of financial exploitation;
  • Some of the common perpetrators of financial exploitation; 
  • Financial record confidentiality and exceptions; 
  • Where to report when a confidentiality exception applies; 
  • Suspicious Activity Reports/narratives/confidentiality;  and
  • Training and record-keeping requirements for current employees and new hires.

All credit unions face situations where only they have an opportunity to witness suspected exploitation. Participate in this QuickBite to learn the common indicators and the actions you can take.

 

Play it again! The audio archive of all QuickBites and telecourses for 2012 has been increased to 60 days with paid registrations for most sessions. Whether you were unavailable for the scheduled date and time of a particular call or just want to hear the session again, you will have 24/7 access for the entire 60 days after the scheduled session. This feature enhances the value of audio training and is included for no additional charge. The audio archive link will be activated within 48 hours of the live event.

 

For a complete calendar of all Educational offerings, please click here.


Our Mission: To Serve You