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The NAFCU Journal: Explore how CUs reacted to PPP demand, enhanced pandemic-related fraud, more
The May-June edition of The NAFCU Journal is now available with features tackling how credit unions revamped their processes to meet paycheck protection program (PPP) needs, the importance of monitoring potential fraud risks amid the pandemic, and why stress testing is an important part of planning ahead. Articles and columns in this issue provide insights from industry leaders and experts and can be viewed anytime on the new virtual hub.
"PPP Requires Quick Revamp of Processes" dives into how several credit unions reacted and revamped their day-to-day processes to help the commercial loan department handle the unprecedented influx of applications for PPP loans.
The coronavirus pandemic has also brought on an increase in e-commerce and online financial transactions, which has in turn required enhanced monitoring to identify potential fraud risks. “Fraud Trends Require Extra Attention” explores how credit unions manage and alert members of these risks – some of which had not commonly been seen before the pandemic began.
A feature on the benefits of stress testing and scenario planning provides credit unions with a deeper look into how some credit union leaders found addressed an increase in deposits throughout the coronavirus pandemic. The article expands on how stress tests are an integral part of planning ahead for unforeseen changes in deposit levels, loan repayments, or other facets of business that can be affected by numerous factors.
Each edition of The NAFCU Journal includes several columns from NAFCU leaders and experts offering advice and insight into the world of credit unions. Find the sections from the May-June edition online below:
- From the Chair: A Trusted Resource for Your Compliance Needs
- Washington & Industry Briefs: Managing Risks to the Financial System
- The Bottom Line: Remote Work in the Post-COVID World
- Leadership Download: Consider These Big Ideas, Questions to Develop Strong Strategy
- Inside NAFCU Services: Expert Answers to Your Stress Testing Questions
- Management Insight: Social Entrepreneurship is the Antidote to Covid-19
- Executive Spotlight: Faheem Masood
- Compliance Central: What NCUA’s Focus on Fair Lending Exams Means for Credit Unions
- From the President's Desk: Looking Ahead to a Prosperous Future