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LAS VEGAS-There have been both expected and unexpected rippling effects from the Great Recession. In certain respects, non-traditional members are seeking credit unions, which can be viewed as a double-edged sword when it comes to fraudulent behavior.
"We are a community chartered credit union," said Kristen Williams, AVP of administrative services for One Nevada Credit Union. "Since the beginning of the recession our membership base has changed dramatically."
Among new potential members were the throngs of transient construction workers reeling from the now failing but once booming Las Vegas housing and construction industry.
"We are seeing more and more members that fall outside of the traditional banking environment. With that comes increased risk," said Williams.
In an effort to stem the tide, One Nevada CU adopted Early Warning Services' Deposit Chek Service in 2009.
The implementation process went smoothly, according to Williams.
The credit union decided to implement...