Friday, May 24, 2019

Dolphin Debit Is Now A Strategic Business Partner of the National Council of Firefighter Credit Unions Inc (NCOFCU)

Miami– Dolphin Debit, the full-service ATM management company, has been named a Strategic Business Partner of the National Council of Firefighter Credit Unions Inc (NCOFCU). 

“Our council partnership connects NCOFCU members to robust credit union support that enhances the strength of credit unions serving first responders,” said Grant Sheehan, CEO of the National Council of Firefighter Credit Unions Inc . “The Council looks forward to working with Dolphin Debit to deliver efficiencies and savings to our member credit unions.”

For Council members, the partnership helps connect them with Dolphin Debit for easy access to the benefits of outsourcing the management of their ATMs, the company said, adding that whether a credit union is replacing aging machines, seeking to ensure regulatory and technical compliance, or simply looking to get out of the ATM business, it provides the solution through its turnkey, full-service management services. 

 Joe Woods, CUDE
SVP, Director of Sales
Dolphin Debit Access, LLC

Thursday, May 16, 2019

It is that time of year! 6 Disaster Recovery Tips for Credit Unions

6 Disaster Recovery Tips for Credit Unions

Ahh, disaster recovery. For credit unions, it’s a must. Why? Well, imagine what would happen if lightning struck half your branches. What would you do?
Okay, maybe that’s not the best example. Lightning strikes—especially simultaneous lightning strikes—aren’t exactly common. Still, many things are common. Worse, some bad things are becoming increasingly common.
Have you ever worried about wildfires, tornadoes, or earthquakes? How about hurricanes, power outages, or chemical spills? We could go on, but by now, you’ve probably gotten the point: credit union disaster recovery is important.

It’s Not Just a Good Idea—It’s the Law!

Disaster recovery plans are important for being able to restore operations when things go wrong. Plus, the NCUA wants you to have a disaster recovery plan.
Your members will thank you, too. If you’re serious about meeting their needs, then you must plan for the worst. If you don’t, how can you help them when they need you most?
So, where do you get started?

1.    Test Your Core

Can your core handle a disaster? If not, then what’s the use in anything else working? If it’s your first time testing your disaster recovery, start with the core.
In any credit union disaster recovery scenario, you must ensure that you can continue operating. It’s a nice thought, being there for your members in an emergency. Being able to handle their banking needs is an even nicer thought.

2.    Test Your Connectivity

Okay, now that you’ve got your core figured out, it’s time to make sure you can use it. Can you connect to it? How’s your third-party connectivity?
Connectivity is another year-one concern. Don’t put this off!

3.    Test Supporting Systems

There’s no reason to test the core and connectivity over and over. At some point, you have to check on all your other systems.
Start by determining which of your supporting systems are most critical. Your most critical systems are the ones that you would need to bring up before your other peripheral systems.
Testing supporting systems is a year-two concern.

4.    Test Your Business Processes

Also in your second year, you should test your critical businesses processes. Make sure end-users are trained on how to handle your credit union’s disaster recovery plan.
You may want to try out testing in an offsite location, or even from home. You can’t be sure that you’ll have your usual facilities in the event of a disaster.
Testing businesses processes also falls under the business continuity planning (BCP) umbrella. That’s okay—there’s a little overlap.

5.    Test Third-Party Connectivity

The last major consideration for your second year of disaster recovery testing is third-party connectivity. Once you know your core is operational and connected, it’s time to see what else you can maintain access to.

6.    Full Production Test

By the third year, you’ll want to run a full production test. Fail over to your backup servers on a weekend. Make sure you can run production from that environment.
Then, let it run for a week. Make sure everything is running and that connections are solid.
When you’ve successfully completed this step, then you’ll know that your credit union is truly prepared for disaster recovery.

Tuesday, May 14, 2019

Hot Headlines - Finally Fixing BSA/AML?

May 14, 2019
Hot Headlines

Issue # 864

What we're tracking today on Risk InboX:

Today's Top Headline  bsa-busting  

Fixing BSA/AML

The House Financial Services Committee just approved the COUNTER Act to modernize the Bank Secrecy Act. Still, a ways to go, but here are some highlights of what's in the bill. Read on.

What's Up in Compliance (click here

Well, it seems July 1 is just around the corner. Ready for NCUA's rule on private flood insurance? ... Here are some nifty helps NCUA is offering to help prevent elder financial abuse. ... That $10K CTR threshold has been around a long time. Isn't it about time it thresholded up a bit? ... Here's what a good OFAC compliance program looks like. ... Many have been saying it all along. Now the 9th Circuit Appeals Court agrees: fix the structure of the CFPB already. ... Overdraft Rule: the CFPB is coming after you. ... There's a lot to CFPB's proposed debt collection rules you don't need to worry about. But there are some things that you should know about. ... Nobody seems to like the CFPB's complaint database. This industry leader thinks it's a valuable resource you should pay attention to. ... FinCEN wants the virtual currency crowd to be clear on what's what. ... A multi-faceted approach to preventing elder fraud is underway in five states. Here's how that is working. ... The original Fair Debt Collection Practices Act is over 40 years old and included guidance on such things as telegrams. Time for an update much? ... The Fed is repealing the SAFE Act. But don't get too excited. It's a technical repeal. 

Get the scoop on all the top compliance and risk developments here:


Click to view this email in a browser

If you no longer wish to receive these emails, please reply to this message with "Unsubscribe" in the subject line or simply click on the following link: Unsubscribe

5301 Buckeystown Pike
Suite 420
Frederick, MD 21704

Monday, May 6, 2019

Check out firefighter credit union websites provided by

A proud sponsor of NCOFCU

                 OMNICOMMANDER delivers the most modern website design in the industry. Credit Unions that leverage our platform quickly and intuitively understand how we eliminate confusing websites with our clean and clear layout. We build, manage, and maintain your website so you don't have to worry about it.

Let us design your new beautiful, responsive, ADA compliant website that will work on any type of device... desktop, laptop, and mobile. And for all users!

Contact our firefighter representative!
Josh Gallo

Check out a few of our Firefighter credit union websites.

Thursday, May 2, 2019

Federal Open Market Committee has opted to not raise rates

WASHINGTON–As expected, the Federal Open Market Committee has concluded it's meeting today and opted to not raise rates, leaving the target range for the federal funds rate at 2.25%  to 2.50%.
Jerome Powell

In a statement released at the conclusion of its meeting here, the FOMC said data show that since March, the labor market has remained strong and that economic activity rose at a solid rate. Job gains have been solid, on average, in recent months, and the unemployment rate has remained low, the Fed said.

While acknowledging the growth of household spending and business fixed investment slowed in the first quarter, the Fed noted that on a 12-month basis, overall inflation and inflation for items other than food and energy have declined and are running below 2%. “On balance, market-based measures of inflation compensation has remained low in recent months, and survey-based measures of longer-term inflation expectations are little changed,” the FOM stated.

“The Committee continues to view sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee's symmetric 2% objective as the most likely outcomes,” the FOMC said. “In light of global economic and financial developments and muted inflation pressures, the Committee will be patient as it determines what future adjustments to the target range for the federal funds rate may be appropriate to support these outcomes.”

Voting for the FOMC monetary policy action were: Jerome H. Powell, Chair; John C. Williams, Vice Chair; Michelle W. Bowman; Lael Brainard; James Bullard; Richard H. Clarida; Charles L. Evans; Esther L. George; Randal K. Quarles; and Eric S. Rosengre.

See you in Clearwater Beach, FL 10/1-4/2019