How To Think Outside The Annual Review And Why It Takes A Village To Fight Fraud

Five can't-miss data points featured this week on

This week, looks at credit unions thinking outside the annual review, what it takes to fight fraud, auditing firm market share, and more.

Here are five don’t-miss data points for the week:


Talent management is changing, and in no place is this more apparent than in the employee review.

Once upon a time, reviews were a formalized, annual process. At many organizations, they still are. However, many companies, credit unions included, are ditching the annual review for a less formal, more communicative process.

But how do these organizations earn the senior level buy-in necessary to change a process as ingrained as an annual review? Two credit unions BECU and Michigan State University Federal Credit Union offer 9 Ways To Think Outside The Annual Review.


Dealing with fraud is a daily activity at credit unions. Threats come through multiple channels, and a combination of people, processes, and processors working together is the best line of defense.

That’s the case at American 1 Credit Union whose approach to fraud detection and prevention is a good example of best practices that today’s modern cooperative financial institution can use to protect their member-owners and themselves.

In It Takes A Village To Fight Fraud, Amy Nichols, who has been the credit union’s payment systems manager for four years, offers more detail on how this Wolverine State credit union fights fraud.


Audits are a vital part of a credit union’s mission to maintain the safety and soundness of its members’ assets. A responsive and results-oriented audit firm is one of the most crucial business alliances a credit union can foster as a depository institution.

A perusal of this year’s national market share rankings uncovers a few fresh faces on the leader boards. The top five auditing firms by credit union clients with more than $40 million in assets remained unchanged with CliftonLarsonAllen continuing to lead the way. Ranking third, Nearman Maynard, Vallez, CPAs added the most credit union clients, 11, year-over-year. For the rest of the list, check out Market Share Entrants And Upward Movements.

200 to 400

In the broader context of financial services, even the largest of credit unions is small. Many argue that’s the reason credit unions need to wave the white flag and merge. And 200 to 400 credit unions a year have been doing just that.

But being small means credit unions can tackle opportunities that larger organizations can’t or won’t. Because they are closer to customers we can pivot faster. A credit union can better understand what opportunities members are hiring it for and what it would take for members to fire their bank.

See how small can be mighty when it comes to stealing market share and serving it better than the banks in, It’s A Small World After All.


Investments generally increase from the end of one year into the first quarter of the next. The investment expansion of 8.1% from fourth quarter 2016 to first quarter 2017 was no different.

With rising Federal Reserve rates and increased consumer confidence, the credit union industry posted positive year-over-year investment growth in the first quarter for the first time since 2013. Learn more in Investments By The Numbers.

Happy Reading!

September 5, 2017

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