Wednesday, Jan. 31, 2018      |       VOL. V  No. 021
 
Making News Today
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The  Daily CU Scan  welcomes  news from all of the Association's member credit unions. Please e-mail your stories, news releases (Word Document attachments) and photos (300dpi) to  DailyCUscan@ccua.org and Carole Langiu, editor,  to clangiu@ccua.org .

  
Telling your story enhances awareness of all credit unions, how they are  publicly perceived and how they differ among today's financial services providers. Thank you for sharing yours with readers of the  Daily CU Scan .

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House Approves Bills to Simplify Remote Account Opening, Stop Elder Financial Abuse
T he House voted 397-8 on Jan. 28 to pass the Making Online Banking Initiation Legal and Easy (MOBILE) Act of 2017 ( H.R. 1457 ). The bill, introduced by Rep. Scott Tipton (R-Colo.) would allow financial institutions to use electronic copies of identification for purpose of identity verification.
 
Specifically, the MOBILE Act would allow financial institutions, with an individual's consent, to record personal information from a swipe, copy or image of a driver's license or other personal identification card. It would also allow the institution to store the information electronically for the purpose of verifying the identity of the consumer and preventing fraud or other criminal activity.
 
Another, broader bill passed on Monday contained provisions of the previously introduced Senior Safe Act, which would protect financial institutions from lawsuits for reporting suspected elder financial abuse to law enforcement.
 
Preventing elder abuse has long been a passion across the credit union movement, with many credit unions regularly hosting events to educate consumers on how to spot it and recognizing employees who take action to prevent it. Some analysts have observed that  credit unions are uniquely positioned to help stop the problem , and credit unions frequently make efforts to do so.


Remote Deposit Capture: Patent Infringement Letters Circulating
Many credit unions that offer remote deposit capture (RDC) on their mobile banking platforms have reported receiving letters from a firm alleging that the service function infringes on USAA's patents in this area. USAA, which started developing RDC technology in 2005, holds about 50 RDC-related patents. In 2012, USAA was involved in a dispute with another RDC provider, where the parties claimed each side infringed on the other's patents which ended with a settlement in 2014. Last year, noting that USAA wanted to "work toward recovering the investment" the institution made in RDC technology, USAA began sending letters to financial institutions via a law firm called Epicenter Law.
 
Specifically, the letters "invite" the credit union to pay a licensing fee (unspecified in amount) to patent USAA's rights that are allegedly infringed by the credit union's RDC program. While the letters stress that the attorneys "are not litigation counsel" but rather focus on negotiating "patent licensing deals," the issue is still raising questions from credit unions.
 
If you receive a letter or have questions on this topic, a good place to reach out is to your credit union's RDC vendor(s). The credit union's agreement with the particular vendors may address indemnification in these kinds of claims. Some vendors appear to have taken the position that their technology is not infringing on USAA's patents, and some vendors have taken the position that they are not aware of any patent infringement by the vendor's technology - but that position may vary from vendor to vendor.

2018 GAC - Get Ready to Make Your Voice Heard
The 2018 CUNA Governmental Affairs Conference will run from February 25 through March 1 at the Washington Convention Center, 801 Mount Vernon Place, Washington D.C.
 
As part of the Association's efforts to make your time at the conference as productive and efficient as possible, all materials will be posted electronically on the Association's app and website prior to the GAC. The Association strives to provide early delivery of issues to you to enhance your understanding and discussion at the conference. You are encouraged to review the materials electronically prior to the conference and bring any materials of interest necessary for the conference with you to Washington.
 
Please note that materials available electronically to member credit unions on the Association's app and website. Limited materials will be available at the CCUA Issues Briefing for members.  
 
The CCUA App may be accessed the following ways:
  • Download the app by simply visiting your device's application store and search Cooperative Credit Union Association. Once downloaded, click the icon "Advocacy Events" icon for your one-stop shop for materials.
  • Visit the Advocacy Events page on the Association's website at https://www.ccuassociation.org/advocacy/advocacy-events  and click on the CCUA Mobile APP link in the right-hand menu column. Select the download method for your device.
Electronic materials may be accessed the following ways:
Initial materials are being posted, including issues documents on member business lending, state member benefits statistics, and others. In addition, you'll find a listing of including the Association's private reception invitation, information about the CULAC Sweepstakes, and more.  
 
Whether this is your first-time attending the GAC, or you have been many times, be sure to check back in the coming weeks to view the materials located in the GAC First-time Attendee Materials section. Important information about the benefits of credit union membership in your state will be found there, along with Federal Agency Meeting Etiquette, hotel and area maps, information on how to follow-up on meetings with lawmakers, and information about CUNA's Member Activation Program (MAP). 
 
The Association will host an industry conference call for GAC attendees on Friday, February 9, 2018 at 11:00 a.m. The purpose of the call will be to provide an overview of the Association's Issues Briefing and to answer any questions you may have regarding the GAC at that time. This call will be especially useful to those GAC attendees who will not be able to attend the Association's Issues Briefing, as representatives from CUNA will join the call to provide an overview of key federal issues for the GAC.
 
To register for the call, or with any questions or comments, please send your name, title, and email address to govaff-events@ccua.org . Call-in information will be distributed upon registration.



Mass. Division of Banks and Loans Warns of ATM 'Jackpotting'
The Massachusetts Division of Banks and Loan Agencies ("Division") recently released an alert to state chartered financial institutions regarding recent ATM "jackpotting." This activity is  an unauthorized attempt to dispense cash from an ATM. The  alert may not be shared publicly or beyond technology service providers.
 
The information, provided by the United State Secret Service, relates primarily to Diebold 500 and 700 series ATMs. ATMs running Windows XP are most vulnerable. Some machines running Windows 7 are also being exploited. Credit unions are encouraged to review the alert and to discuss with ATM vendors and/or technology providers steps to mitigate risk. State chartered credit unions should report incidents or forward inquiries to the Division's Regional Field Manager, Holly Chase, at (617) 956-1500 x. 61409 or holly.chase@state.ma.us.
 
In addition, three other cyber threats that warrant continued attention include:
  • Large-value funds transfers: unauthorized wire transfers (SWIFT-like thefts) of millions to billions of dollars in funds.
  • Ransomware: a form of extortion that uses malicious software to encrypt a device or data, and demand payment for access.
  • Distributed denial-of-service: an attempt to prevent users from accessing information or services, such as overloading the capacity of a credit union's website.
The Division's regulatory action in this area is a reminder to all Association member credit unions to be mindful of evolving and reoccurring cyber threats. To assist, the following regulatory and other resources are continually updated and available:
 
From the Division:
 
From NCUA:
 
From CUNA Mutual:
 
From the Conference of State Bank Supervisors,  Cybersecurity 101: A Resource Guide for Bank Executives :
 
For further assistance, please forward any questions or concerns to govaff-comp@ccua.org.





House Democratic Leader Nancy Pelosi Coming to Massachusetts on Thursday
Nancy Pelosi
House Democratic Leader Nancy Pelosi heads to Cambridge on Thursday for a midday town hall about the impact President Donald Trump's tax plan will have on Massachusetts families. She'll appear alongside Tax March Executive Director Nicole Gill and Center for American Progress Senior Fellow Seth Hanlon.
 
This is the third town hall across the country as Democrats seek "to shine a light on Republican tax breaks for millionaires, billionaires and wealthy corporations at the expense of working families" over the next 100 days, according to organizers.

Thursday's 10:45 a.m. event at the Cambridge Public Library is free and open to the public.



DCU FinTech Center Admits 2018 Winter Cohort
Center's Newest Seed-Stage Cohorts Will Work, Learn, and Collaborate in Innovation Center

The DCU FinTech Innovation Center (the "Center"), which houses the largest concentration of next generation financial technology companies in New England, announced 10 new seed-stage ventures in its latest Cohort. The mission-focused nonprofit Center is fully funded by Digital Federal Credit Union, better known as DCU. The Center's mission is to help accelerate the development of new FinTech products, and the Boston FinTech startup ecosystem.

 
"We are energized by our exposure to new products and the opportunity to partner with startups to advance our members' experiences," stated DCU's Senior Vice President of Innovation, David Araujo. "This past year, DCU launched several pilots with Center founders that helped advance our learnings and assisted startups accelerate their growth. The entire team is excited to continue this engagement with the new Cohort and to see first-hand the innovative technologies these founders are developing."
 
The 2018 Winter Cohort Includes:
  • Commonwealth Crypto - Blockchain - Making cryptocurrency trading faster and more secure.
  • Escrow Mint - Real Estate - Moving money efficiently in real estate deals.
  • Finnest - Mobile Banking - The secure kids and teens debit card that changes behavior.
  • Noble - Payments - A data-driven mobile ordering and payment solution.
  • Harbor - Personal Finance - Accessible and free high-quality retirement planning.
  • Novo - Mobile Banking for startups powered by AI.
  • PeopleHedge Corp - Payments - International payment processing for community banks.
  • Project Finance - Personal Finance - Personal finance software to maximize your money.
  • StackUp - Financial Health - Financial advisor ratings based on real client data.
  • TowerIQ - InsurTech - Competitive intelligence for the insurance market.
 
The Center accepts seed-stage FinTech startups varying from concept to product fit stage that can benefit from the provided FinTech ecosystem of mentors, investors, and institutions. DCU executives offer mentorship, assistance, and an open platform for working with the startups.
 
Read more HERE .

Service Credit Union Offers Free Access to FICO ® Scores*
In its continuing efforts to enhance member experience and provide innovative banking tools, Service Credit Union is now providing its members free access to their FICO® Scores. This includes key factors affecting their scores and general information on credit scores. 
 
The scores, which will be updated quarterly, are available through Service Credit Union's secure online banking service and on their monthly statements to members who have $5 in their primary share account and meet other qualifications.
 
"We're committed to assisting our members achieve financial success. An informed member is an empowered member," said Fawn Terwilliger, chief lending officer at Service Credit Union.  "Offering members free access to their FICO® Scores is one way we can help them better understand what factors impact their credit score and financial health."
 
The FICO® Score is the standard measure of U.S. consumer credit risk, and used in more than 90 percent of consumer lending decisions in the U.S. and in more than 25 countries on 5 continents. More than 10 billion FICO® Scores are purchased in the United States each year by lenders for their risk management decisions. 
 
* FICO and "The score lenders use" are registered trademarks of Fair Isaac Corporation in the United States and in other countries.


CU Accelerate Spotlight: How Credit Unions Can Partner with FinTech to Fuel Innovation
David Araujo, 
SVP, Innovation
 Digital Federal Credit Union
Buzz surrounding FinTech is everywhere these days. There are thousands of companies in the space and thousands more on the horizon. Credit unions unsure about how to handle these disruptors will find value in the CU Accelerate session presented by David Araujo, SVP, Innovation at Digital Federal Credit Union, and two DCU FinTech Innovation Centers partners: Ted Brown of Digital Onboarding, Inc. and Greg Woolf of Coalesce. Info.
 
Founded over four years ago, the DCU FinTech Innovation Center was formed with the mission of finding opportunities to partner with FinTech organizations and bring solutions to the credit union industry. But the partnerships are not simply one-sided. Early stage technology companies find assistance from the DCU Fintech Innovation Center in learning how to thrive in the financial services industry.
 
To learn more about how the DCU FinTech Innovation Center operates and how partnerships are forged, be sure to register for CU Accelerate. Full biographies of the three speakers can be accessed here .
 
The CU Accelerate agenda is packed with dynamic and hard-hitting topics. To see the full agenda, click here




The conference is April 13-15 at the Gaylord National Resort and Convention Center in National Harbor, Maryland. Join executives from credit unions coast to coast for a variety of challenging and innovative presentations by subject-matter experts like Araujo, Brown and Woolf. 




The Great New England Credit Union Show Celebrates 10 Years and Moves to DCU Center on May 8
The Cooperative Credit Union Association and The Warren Group are teaming up once again for the 10th annual Great New England Credit Union Show on Tuesday, May 8 at a new venue, the DCU Center in Worcester, Mass. In celebration of this special anniversary, attendees can now register for free through Friday, February 23rd - a savings of $70.00 per person.
 

Worthwhile and fun, the Great New England Credit Union Show is a  must-attend event for those within the credit union industry. This show is a "one-stop-shop" for you to evaluate products and services and educate yourself on the offerings that can help you better serve your co-workers and members. You have a unique opportunity to network with your peers from credit unions throughout New England and to learn how they are meeting the challenges of today.
 
With over 80 vendors focused on presenting cutting edge solutions for credit unions, as well as compelling education and the opportunity to mix and mingle with more than 300 colleagues, the day promises to offer unparalleled value to attendees. And, the price tag makes it even better!
 
Just as exciting as the show itself, are the Rising Stars awards that are presented that day. This program recognizes the up and coming stars of the credit union industry for their talent and dedication to their credit unions and communities. Nominations are currently being accepted through March 16, 2018. All nominees must meet the eligibility requirements listed on the website.
 
If you've been to the Great New England Credit Union Show, you know what a remarkable celebration of the credit union industry it is. If you have never been, what better time to register than now? Don't forget FREE registration is available through February 23rd.
 
To nominate a Rising Star, or to take advantage of the offer of free admission,  visit the GNECUS website .
 
See you at the Show!




Daily CU Scan Migrating to New Platform
Tomorrow the Daily CU Scan will migrate to a new platform. Minor aesthetic changes will be made, but this change is focused on ensuring that all members of the association are able to access the newsletter in their inbox.
 
To ensure delivery, please make sure your profile in the Cooperative Credit Union Association database is up-to-date and current with your subscription preferences.
 
To create your user account, click here and complete the left side of the screen with first and last name, email address and postal code, then follow the on-screen prompts.
 
Have a user account, but forgot your password? Click here to reset your password.
 
As we migrate to this new system, now is a good time to ask your IT departments to whitelist the CCUA domains (@ccua.org and @cucenter.org) as well as individual email addresses from CCUA staff. A whitelist is a list of trusted email domains and addresses. Adding our addresses to your whitelist ensures that you will continue to receive communications from us.
 
In addition to our regular domains, our event registration software uses the address messages@app.production.membersuite.com to communicate event confirmations, event reminders, and password resets. Don't miss these important communications either. Add this address to your whitelist.



Treasurer/Chief Financial Officer, Southbridge Credit Union, Southbridge, Central Mass .
Southbridge Credit Union, Southbridge (Central) Mass. seeks a Treasurer/Chief Financial Officer. Working under the direction of the CEO/President, the qualified applicant coordinates and manages directly, and through subordinates, the financial activities of the credit union. Additional duties include: in the role of Compliance Officer, coordinating and managing all compliance functions; and, in the role of Information Security Officer, coordinating and managing all IT functions.
 
Read more.

 

2018



IT Risk Assessment Presentations
Feb. 9 and Feb. 21, 2018
Speakers presenting from CCUA, Marlborough, MA and available as Webinar
Program Details and to Register

 
Credit Union Night at the Dunk
Friday, Feb 9
Dunkin' Donuts Center, Providence, RI 


IT Risk Assessment Presentations
Feb. 21, 2018
Speakers presenting from CCUA, Marlborough, MA and available as Webinar
Program Details and to Register


CUNA Governmental Affairs Conference

Feb. 25-March 1  |  Washington, D.C.

Understanding Employee Engagement
Feb. 28 | 9:00 a.m. to 4:00 p.m.
CCUA, Marlborough, MA
Program Details and to Register

Credit Union Employee Boot Camp
Mar. 1 | 9:00 a.m. to 4:00 p.m.
CCUA, Marlborough, MA
Program Details and to Register


BSA Update 2018
Mar. 6 | 9 a.m. to 11:00
Speaker Presenting from: CCUA, Marlborough, MA
Video Conference Locations: CCUA Newark, Delaware; St. Mary's Bank, Manchester, NH;
Navigant Credit Union, Smithfield, RI; and Arrha Credit Union, Springfield, MA
Program Details and to Register

Developing Great Managers - 3 part program
March 7, April 4 and May 2, 2018
CCUA, Marlborough, MA
Program Details and to Register


HR Network Meeting
Mar. 8 | 9:00 a.m. to 11:30 a.m.
Speaker Presenting from: CCUA, Marlborough, MA
Video Conference Locations: CCUA Newark, Delaware; St. Mary's Bank, Manchester, NH; 
Navigant Credit Union, Smithfield, RI; and Arrha Credit Union, Springfield, MA
Program Details and to Register

Credit Unions Championship - Rhode Island Basketball
Mar. 11 | 3:00 p.m. - 8:00 p.m.
Ryan Center, Kingston, RI
For more details click here

Account Administration
March 20  | 9 a.m. to 12:00 p.m.
Speaker Presenting from: CCUA, Marlborough, MA
Video Conference Locations: CCUA Newark, Delaware; St. Mary's Bank, Manchester, NH; 
Navigant Credit Union, Smithfield, RI; and Arrha Credit Union, Springfield, MA
Program Details and to Register

Developing Great Managers- Delaware- 3 part program
March 27, April 16 and May 15, 2018
CCUA, Newark, DE
Program Details and to Register

Credit Union Employee Boot Camp - Delaware
March 28 | 9:00 a.m. to 4:00 p.m.
CCUA, Newark, DE
Program Details and to Register


Credit Unions of Rhode Island Bowling Tournament
Mar. 28 | 3:30 p.m. - 7:00 p.m.
East Providence Lanes, East Providence, RI
For more details click here



CU Accelerate 2018 - Washington, D.C.
April 13-15
Gaylord National Resort and Convention Center, National Harbor, MD

Young Professionals Network Meeting - Delaware
April 16 | 4:00 p.m. to 6:00 p.m.
CCUA, Newark, DE
Program Details and to Register

BSA Update - 2018 - Delaware
April 17 |
Two Sessions: Morning: 9:00 a.m. to 11:30 a.m. / Evening: 4:30 p.m. to 7:00 p.m.
CCUA, Newark, DE
Program Details and to Register

Developing Great Managers - 3 part program
April 25, May 30 and June 27, 2018
CCUA, Marlborough, MA
Program Details and to Register

The Great New England Credit Union Show - GNECUS
May 8, 2018
DCU Center, Worcester, MA
Conference Details and to Register

Understanding Employee Engagement - Delaware
May 16 | 9:00 a.m. to 4:00 p.m.
CCUA, Newark, DE
Program Details and to Register

Exceptional Leadership I & II- two part program
May 22 & June 12 | 9:00 a.m. to 4:00 p.m. (Part I - May 22)
CCUA, Marlborough, MA
Program Details and to Register

Supervisory Skills
May 24 | 9:00 a.m. to 4:00 p.m.
CCUA, Marlborough, MA
Program Details and to Register

Credit Union Employee Boot Camp
May 31 |  9:00 a.m. to 4:00 p.m.
CCUA, Marlborough
Program Details and to Register

RTN Walk Home 2018: 5K Benefit Walk for the Homeless
June 10 | 9:00 a.m.
Event Details

Richard D. Mahoney Charity Golf Tournament
June 14 | 7:30 a.m. to 4:00 p.m.
Candia Woods Golf Links, Candia, NH
Program Details and to Register

Hike-the-Hill
June 20 - 21
Washington, D.C. and Alexandria, VA
Program Details and to Register

Stephen Jones Credit Union Charity Golf Tournament
Jun. 26 | 7:45 a.m. - 4:30 p.m.
Juniper Hill Golf Course, Northborough, MA
For More Details Click Here


Credit Unions of Rhode Island Charity Golf Tournament
July 16 | 11:00 a.m. - 8:00 p.m.
Crestwood Country Club, Rehoboth, MA
For More Details Click Here

Credit Union Employee Boot Camp
Sep. 19 | 9:00 a.m. to 4:00 p.m.
CCUA, Marlborough, MA
Program Details and to Register

Consumer Lending Basics
Sep. 26 | 9:00 a.m. to 4:00 p.m.
CCUA, Marlborough, MA
Program Details and to Register

2018 CCUA Annual Meeting, Convention and Trade Show
Oct. 10 - 12
Mohegan Sun Resort & Casino, Uncasville, CT 

Developing Great Managers - 3 part program
October 17, November 14 & December 12, 2018
CCUA, Marlborough, MA
Program Details and to Register


BSA Update - 2018
Nov. 8 | 9:00 a.m. to 11:00 a.m.
Speaker Presenting from: CCUA, Marlborough, MA
Video Conference Locations:St. Mary's Bank, Manchester, NH; 
Navigant Credit Union, Smithfield, RI; and Arrha Credit Union, Springfield, MA
Program Details and to Register


Credit Union Employee Boot Camp
Nov. 28  |  9:00 a.m. to 4:00 p.m.
CCUA, Marlborough, MA
Program Details and to Register

2019




CU Accelerate 2019

May 3-5
Boston Marriott Long Wharf, Boston, Mass.
 
     
- Visit CCUA's  Calendar for a full list of events. 
Visit CCUA's Calendar for the e-Learning Schedule of Opportunities in 2017.
- For answers to compliance questions, call the Compliance Hotline at  800.842.1242, ext. 348.