Emerging Risks Outlook
Keeping ahead of the complex array of ever-changing risks, litigation trends, and compliance issues that are impacting credit unions requires keen awareness, effective preparation, and loss control scrutiny.
When risk management is effective, typically nothing bad happens. But, if you’re blindsided by a problem, your credit union reputation takes the hit. Don’t let not knowing which emerging risks are around the corner take the blame.
While each credit union has its own unique risk footprint, this Emerging Risks Outlook introduces risks and trends that most likely should be on your radar.
Overdraft/NSF Fee Litigation
Defective Post-Repossession Notices
ATM Smash & Grab Attacks
Slip, Trips & Falls
Wire Fraud/Business Email Compromise
Remote Work & Technology
Vendor Program Management
Mergers & Acquisitions
Marijuana-Related Business Services
This resource is for informational purposes only. It does not constitute legal advice. Please consult your legal advisors regarding this or any other legal issues relating to your credit union. Any examples provided have been simplified to give you an overview of the importance of selecting appropriate coverage limits, insuring-to-value, and implementing loss prevention techniques. CUNA Mutual Group is the marketing name for CUNA Mutual Holding Company, a mutual insurance holding company, its subsidiaries and affiliates. Insurance products offered to financial institutions and their affiliates are underwritten by CUMIS Insurance Society, Inc. or CUMIS Specialty Insurance Company, members of the CUNA Mutual Group.