BankThink

Editor's note: this letter was written in response to an article that appeared on www.cujournal.com Nov. 2.

How safe is your member data? Not nearly as safe as you might imagine-especially if you're blissfully unaware that many common assumptions about important data security matters are dangerously inaccurate.

I'm certain that I'm not the only Credit Union Journal reader who laughed out loud while reading Frank Diekmann's op/ed entitled, "Forget Room 1408: Far Scarier Hotel Room This Halloween" (CU Journal Oct. 29).

I've worked in the credit union industry for over 30 years. For the past 20 years I have been making this case about credit union accounting terminology. The reception for the ideas have been mixed-maybe it's that I'm talking about accounting or maybe it's my New York accent, but the general message has been "go away."

Resolving problems builds loyalty, right? False! False!! False!!! Nothing erodes loyalty more than experiencing a perceived problem or error in the financial and health care industries.

Asked of attendees at CUDL's Annual Meeting In Las Vegas

There's a lot of talk about branding in credit union circles these days. That's because there's a lot of pressure on growth in the financial services industry. The end of the mortgage boom has everyone from banks to mortgage companies scrambling for dollars. And they're throwing around cash, cruises, award points and more in an effort to grab new accounts. Credit unions are fighting for growth in assets and membership in what might be the most competitive marketplace in decades.

Cultivating a corporate culture of engaged employees results in great benefits to your credit union.

Maybe they were just mad they didn't get a mint.

Many credit unions have implemented various document imaging systems over the past few years to stave off the increasing costs of paper-retention and improve member service. In doing so, however, many of these same CUs may unwittingly be putting themselves at risk due to inadequate document-retention policies and lack of a formal business continuity process.