Having a rewards program attached to at least a credit card program is a key way a credit union can protect its card portfolio from having cardholders switch to other cards which have rewards programs. A white paper from Card Services for Credit Unions says only 50% of credit unions have loyalty or rewards programs attached to credit or debit cards....read more..CSCU White Paper Argues For Rewards Programs:
When a credit union employee suspects a member may be subject to fraud, they should initiate a careful conversation focusing on the nature of the transaction and external influences. The goal is to help the member identify red flags without the employee asking for sensitive personal information that the credit union should already have on file. Initial Verification Questions .pdf Before discussing the specifics of the suspicious activity, the employee should confirm the member's identity in accordance with established internal protocols. Questions About the Transaction/Activity If the member confirms they are conducting a suspicious transaction (e.g., a large wire transfer or purchase of gift cards ), the employee should ask questions to help the member pause and think critically: "What is the purpose of this transaction?" "Do you personally know the person or business you are sending money to?" "Have you ever met the...

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