NCOFCU-25

Petrone will share some ways in which volunteers can help prevent and detect fraud.  For lending, some relevant internal controls Petrone mentioned include: segregating duties within the loan department; reviewing file maintenance reports daily; periodically confirming member loans by telephone; and protecting/monitoring dormant accounts.  For credit union Card Departments, Petrone advised deploying a lockout feature on credit card terminal to block card department employees from processing transactions on their own credit card account and accounts belonging to their family members; review monthly report of employees' and their family members' credit card accounts; and audit card department employees' and their family members' credit card accounts.