This week’s New York Minute features an analysis of recent regulations, industry recognition, and community impact efforts. From supervisory updates to inspiring member stories, here’s what’s happening across New York’s credit union movement.

CU in New York: What Federal Guidance Means for Lending to Non-Work Authorized Borrowers

The latest edition of CU in New York takes a closer look at recently issued federal guidance on lending to individuals who are not legally authorized to work in the United States, and why the implications for New York credit unions may be more complicated than they first appear.

Jeremy Newman, the Association’s Vice President of Legislative & Regulatory Affairs, breaks down the agencies’ guidance in plain language, explores how it intersects with New York’s fair lending laws, and explains why credit unions should carefully consider both federal expectations and state legal requirements when evaluating lending policies.

Read Jeremy’s latest post to learn more.

SeaComm Earns Great Place to Work® Certification for Sixth Consecutive Year

SeaComm has been recognized as a Great Place to Work®, earning the certification for the sixth consecutive year based entirely on employee feedback.

According to President & CEO Scott Wilson, employee feedback helps shape the credit union’s long-term engagement strategy while ensuring the staff has the tools, support, and resources they need to provide exceptional service to members.

“Our success, we believe, focuses on the right things. It’s taking care of our employees, who take care of our members,” he said in a statement.

Great Place To Work® Certification is a highly sought-after recognition requiring consistent and intentional dedication to the overall employee experience. Congratulations to SeaComm for this exciting achievement!

Sunmark’s Jerilee Beaudoin Named a 2026 Woman Who Means Business

Congratulations to Jerilee Beaudoin, President & CEO of Sunmark Credit Union, on being named one of the Albany Business Review’s 2026 Women Who Mean Business honorees!

The annual award celebrates women whose leadership, professional accomplishments, and community impact have made a meaningful difference throughout the Capital Region. Jerilee’s recognition reflects her outstanding leadership at Sunmark and her continued commitment to serving members and strengthening the communities the credit union calls home.

New York Credit Unions Earn Top Honors in Rochester Business Journal Reader Rankings

Several New York credit unions were recognized in the Rochester Business Journal’s 2026 Reader Rankings, earning top honors across the Finance, Accounting & Insurance and Top Employers categories! 34,000 votes were cast in May for the annual ranking.

Congratulations to ESL Federal Credit Union, The Summit Federal Credit Union, and Reliant Credit Union on being recognized by readers for their commitment to exceptional service, workplace culture, and community impact.

Cornerstone Community FCU Partners with Roc Solid Foundation to Build Backyard Playset

For one Western New York family, a new backyard playset means something much greater than a place to play.

Through a partnership with Roc Solid Foundation, volunteers from Cornerstone Community Federal Credit Union came together to build a backyard playset for six-year-old Reina, who is courageously battling medulloblastoma. Completed in just five hours, the project created a space where Reina and her family can step away from hospital visits and simply enjoy time together.

Thank you to Cornerstone Community FCU, Roc Solid Foundation, and everyone who helped make this meaningful project possible.

From Origence: Deepfake Fraud Reshapes Digital Risk for Credit Unions

Deepfake fraud has quickly become a defining risk for financial institutions. Advances in generative artificial intelligence (AI) are enabling fraudsters to impersonate real members with convincing audio, video, and synthetic identities, often at scale. Fraud is no longer growing incrementally; it is compounding alongside advances in AI.

For credit unions, the impact extends beyond financial loss. With nearly half of applications now originating through digital channels, identity verification plays a central role in regulatory compliance, operational efficiency, and member trust.

Read the full article from Origence to learn more.

---

Stay ahead of the curve by subscribing to receive credit union news and updates directly to your inbox.

From advocating for New York’s credit unions to helping students prepare for a successful school year, this week’s New York Minute highlights the people, partnerships, and professional development opportunities making a difference across the credit union movement.

Credit Unions Across the State Participate in Senator James Sanders Jr.’s Upstate Financial Services Tour

Credit union leaders from across New York recently joined Senate Banks Committee Chair Senator James Sanders Jr. for his Upstate Financial Services Tour, a multi-day visit to financial institutions in Buffalo, Rochester, Syracuse, and Albany.

[Photo Caption: Senator James Sanders Jr.’s tour in Albany, NY.]

[Photo Caption: Senator James Sanders Jr.’s tour in Rochester, NY.]

[Photo Caption: Senator James Sanders Jr.’s tour in Syracuse, NY.]

Representatives from 16 credit unions participated in the tour, including AmeriCU Credit Union, Alternatives FCU, Beginnings Credit Union, Broadview Federal Credit Union, Cooperative Federal, ESL Federal Credit Union, First Choice Financial Federal Credit Union, First New York Federal Credit Union, GPO Federal Credit Union, Hudson Valley Credit Union, Spencerport Federal Credit Union, St. Pius X Federal Credit Union, Sunmark Credit Union, The Summit Federal Credit Union, Tonawanda Valley Federal Credit Union, and Visions Federal Credit Union.

Together with Association staff and policymakers, participants engaged in meaningful conversations about the financial health of communities across the state, expanding access to financial services, and the vital role credit unions play in strengthening New York’s economy. Special thanks to The Summit Federal Credit Union, AmeriCU Credit Union, and GPO Federal Credit Union for hosting tour stops and helping facilitate these important discussions.

Thank you to Senator Sanders for taking the time to meet with credit unions across New York and hear firsthand about the impact of the credit union movement!

Register Now for the Volunteer & Executive Leadership Conference

Strong leadership begins with informed decision-makers. Join fellow credit union volunteers and executives October 16–17 at Turning Stone Resort Casino for the Association’s Volunteer & Executive Leadership Conference.

This annual conference for executives, board members, and supervisory committee members features educational sessions and practical leadership insights tailored to the unique challenges facing today’s credit unions.

Take advantage of early-bird pricing by August 14 and reserve your hotel by August 26! Registration closes October 2!

Register Today

Join the In-Person Session of the Elevating Credit Union Leaders Conference Series

A new in-person-only registration option is now available for the Elevating Credit Union Leaders Conference session on October 7 at The Desmond Hotel in Albany. This is a great opportunity to participate in a full day of interactive leadership development led by Mark Arnold and Shawn Temple of On the Mark Strategies.

Using engaging discussions, real-world examples, and collaborative exercises, attendees will explore topics such as communication, leadership styles, productivity, giving effective feedback, and building stronger teams. The day also includes an interactive leadership Q&A and peer discussion on today’s biggest leadership challenges, providing valuable opportunities to learn from both the presenters and fellow credit union professionals.

Whether you’re an emerging leader, manager, or executive, this standalone session offers practical strategies you can immediately apply within your organization.

When registering, simply select the “In-Person Only” option to attend the October 7 session.
Reserve your spot today.

Bring Bite of Reality to Your Local Classroom This Fall

[Photo Caption: Students at a Bite of Reality event hosted by People’s Alliance FCU.]

As students head back to school, now is the perfect time to bring financial education into the classroom with Bite of Reality, the New York Credit Union Foundation’s immersive financial literacy program.

Available complimentary to Foundation member credit unions, Bite of Reality gives students the opportunity to navigate real-world financial decisions through an interactive simulation. Since the program’s recent launch, more than nine reality fairs across New York have been hosted, helping students build practical money management skills. The Foundation also provides a complete event kit, making it easy for participating credit unions to bring the experience to their communities.

Learn more about bringing Bite of Reality to your local schools.

HVCU Charitable Foundation Awards $550,000 in Community Grants

The HVCU Charitable Foundation has awarded $550,000 to 80 nonprofit organizations serving communities across its 13-county footprint, supporting programs focused on education, food security, health, and housing.

This year’s grants will positively impact an estimated 757,000+ individuals, helping organizations expand access to essential resources while addressing some of New York’s most pressing community needs. Since its launch in 2024, the Foundation has invested more than $1.1 million in initiatives that strengthen financial well-being and improve quality of life throughout the Hudson Valley and Capital Region.

Congratulations to the HVCU Charitable Foundation and this year’s grant recipients for making a meaningful difference across New York.

Municipal Credit Union Donates 800 Backpacks and School Supplies to Students Across New York City

Back-to-school season is off to a strong start thanks to Municipal Credit Union‘s latest community initiative.

MCU recently donated 800 backpacks filled with school supplies to help students across New York City prepare for the upcoming school year. Working alongside Public Health Solutions, MCU employees helped pack each backpack before they were distributed to families at community events throughout the city. The initiative reflects the credit union’s ongoing commitment to supporting students, strengthening communities, and helping young learners start the school year with confidence.

Thank you to Municipal Credit Union and Public Health Solutions for helping students begin the school year ready to succeed.

---

Stay ahead of the curve by subscribing to receive credit union news and updates directly to your inbox.

New partnerships, member success stories, and industry resources are featured in this week’s New York Minute! Learn about our newest strategic business partnership, celebrate credit unions making a difference in their communities, and explore the latest research and insights shaping the future of the credit union movement.

Welcome to Our Newest Strategic Business Partner, Cooperative Business Services

The Association is pleased to welcome Cooperative Business Services (CBS) as its newest Strategic Business Partner. CBS helps credit unions of all asset sizes expand their commercial lending capabilities through customized business lending solutions and shared expertise.

To introduce members to its product offerings, CBS will host a complimentary webinar on Wednesday, August 5, at 11:00 a.m., highlighting strategies for growing commercial loan portfolios without increasing overhead. The session will also introduce the organization’s Shared Business Development Officer Program, which gives credit unions access to experienced commercial lending professionals, enhanced underwriting support, and scalable growth opportunities.

Register today to learn how CBS can help strengthen your commercial lending program.

Eric Hepkins, CEO of Cornerstone Community FCU, Appears on WIVB’s Daytime Buffalo to Discuss What Sets Credit Unions Apart

Cornerstone Community Federal Credit Union CEO Eric Hepkins recently joined WIVB’s Daytime Buffalo to discuss what makes credit unions different—and why banking local matters.

During the interview, Hepkins shared how the credit union model keeps money invested in local communities, supports members with personalized service, and helps strengthen the communities credit unions proudly serve. The conversation also highlighted the cooperative difference and the positive impact credit unions have beyond traditional banking.

Watch the full interview to learn more about the credit union difference.

The MCU Foundation Donates $165K to Children’s Aid in Support of New York City Children, Youth and Families

The MCU Foundation has announced a $165,000 investment in Children’s Aid to help expand access to food assistance, housing support, financial wellness education, and other essential services for children, youth, and families across New York City.

The funding will support programs at three community-based locations in the Bronx, Harlem, and the Upper West Side, helping Children’s Aid continue its work providing education, health care, youth development, workforce readiness, and family services.

Congratulations to the MCU Foundation for continuing to invest in organizations that help New York families thrive.

Kevin Porter of AmeriCU Credit Union Named to Top 50 Global Thought Leaders & Influencers on IT Strategy 2026

Congratulations to Kevin Porter, SVP of Digital Innovation at AmeriCU Credit Union, on being recognized by Thinkers360 as one of its Top 50 Global Thought Leaders & Influencers on IT Strategy for 2026.

The annual recognition honors professionals who are shaping the future of technology through thought leadership, industry expertise, and innovation. Porter’s recognition reflects his strategic vision and commitment to advancing digital solutions that enhance the experience of both members and teammates.

Broadview FCU’s Diaper Days of Summer Supports Families Across New York

Broadview Federal Credit Union is helping families access essential resources through its annual Diaper Days of Summer initiative.

This summer, Broadview partnered with local nonprofit organizations to ensure donations reached families with the greatest need. Together, they distributed 119 cases of diapers to organizations serving communities across Buffalo, Binghamton, and the Capital Region, helping provide one of the most requested—and most essential—items for young families.

Congratulations to Broadview FCU and its community partners for making a meaningful difference through this impactful initiative.

Filene Research Institute Launches Center for Differentiation & Storytelling to Help Credit Unions Win Members in a Crowded Market

As competition for members continues to grow, Filene Research Institute has launched its new Center for Differentiation & Storytelling to help credit unions better define and communicate their unique value.

The new Center of Excellence will provide research, practical tools, and data-driven strategies focused on member understanding, brand differentiation, and effective storytelling. Its goal is to help credit unions build stronger connections with consumers and stand out in an increasingly competitive financial services landscape.

Learn more about the Center and its research agenda.

The More Things Change, The More They Stay The Same

While fraud schemes continue to evolve, many of today’s biggest risks have familiar roots.

In this article from TruStage, experts examine how traditional threats such as check fraud, check kiting, and loan fraud are being transformed through artificial intelligence, digital lending, and social engineering. The article also offers practical guidance to help credit unions strengthen fraud awareness and prepare employees to recognize emerging threats.

Read the full article from TruStage to learn more.

---

Stay ahead of the curve by subscribing to receive credit union news and updates directly to your inbox.

“What’s old is new again” is a common phrase suggesting that trends, fashions, or ideas from the past often return with a modern twist. But does this apply to credit union risks? Are older approaches being revived—or simply reimagined—in ways that make them valuable again to fraudsters?

Check fraud, check kiting, and loan fraud may feel like legacy risks — issues we’ve managed for years. However, these schemes are being reinvented through digital channels, artificial intelligence (AI), and social engineering. As a result, they have reemerged as significant threats impacting credit unions nationwide.

While the tactics may sound familiar, their impact and complexity are anything but. Losses are increasing in both frequency and severity across these three areas.

Check Fraud

A recent Federal Reserve Payments Study (March 2026) reports that check volume has decreased by 83% over the past 25 years. However, checks remain the payment method most susceptible to fraud. According to the 2026 AFP Payments Fraud and Control Survey Report, 58% of organizations reported check fraud in 2025, outpacing both ACH and wire fraud.

Stolen mail is a key driver behind the rise in fraudulent deposit losses. Fraudsters steal issued checks and may:

• Alter or chemically “wash” checks by erasing ink and changing the payee and amount
• Manipulate the magnetic ink character recognition (MICR) line by adding faint symbols or characters to disrupt processing
• Manufacture counterfeit checks using information from legitimate checks
• Open fraudulent accounts—often business accounts—to deposit and cash these checks

Money mules are frequently recruited to open accounts and conduct transactions as part of broader fraud schemes.

Another significant issue involves accepting checks without proper endorsement, including jointly payable checks missing required signatures. Missing endorsements may jeopardize a credit union’s ability to recover losses under its fidelity bond policy.

Check Kiting

Check kiting exploits the time delay—or “float”—between when a check is deposited and when funds are collected. This allows fraudsters to artificially inflate account balances and withdraw funds that do not actually exist.

Both consumers and businesses have engaged in kiting schemes, often due to financial hardship and cash flow challenges. By relying on uncollected funds to cover obligations, they create unsustainable cycles that eventually collapse. Business-related kiting schemes tend to result in the largest losses, often exceeding $1 million.

A critical mitigation point: do not contact other financial institutions if you suspect check kiting. Providing advance notice may allow checks to be returned unpaid to your institution, leaving your credit union responsible for the loss.

Loan Fraud

Loan fraud is a growing concern for credit unions, with a noticeable rise in fraudulent applications driven by converging factors such as advancing technology, widespread data exposure, and economic pressures.

Digital lending has reduced in-person verification, increased convenience but also introduced new vulnerabilities. Fraudsters now use AI to generate convincing fake documentation, phishing communications, and synthetic identities that can evade basic detection controls.

Commonly falsified documents include:

• AI-generated identification
• Financial statements
• Proof of employment
• Payroll records
• Credit reports

Fraudsters are also leveraging AI-powered deepfakes—including audio and video—to enhance social engineering attacks and
increase their effectiveness.

Every credit union has a unique risk profile but understanding how emerging threats evolve from familiar schemes is critical. These “old is new again” risks continue to adapt and can significantly impact operations and financial performance if left unchecked.

Ensure employees are well trained to recognize fraud and equipped to serve as a first line of defense. Strengthening awareness and detection capabilities is essential in today’s environment.

For additional insights and risk management resources, visit the TruStage® Business Protection Resource Center at http://www.trustage.com/bprc

Insurance | Financial Services

This resource is for informational purposes only. It does not constitute legal advice. Please consult your legal advisors regarding this or any other legal issues relating to your credit union. TruStageTM is the marketing name for TruStage Financial Group, Inc., its subsidiaries and affiliates. TruStage Insurance Products offered to financial institutions and their affiliates are underwritten by CUMIS Insurance Society, Inc. or CUMIS Specialty Insurance Company. Cyber policies are underwritten by Beazley Insurance Group or other nonaffiliated admitted carriers.

This summary is not a contract and no coverage is provided by this publication, nor does it replace any provisions of any insurance policy. Please read the actual policy for specific coverage, terms, conditions, and exclusions.

202605 © TruStage

Planning for fall events is underway, and there are plenty of new opportunities to learn, connect, and engage with the credit union movement. This week, we’re highlighting Catalyst registration, #ILoveMyCreditUnion Day, new educational resources, and industry updates from across the movement.

Register for Catalyst: A Credit Union YP Experience

Calling all credit union young professionals! Registration is now open for Catalyst: A Credit Union YP Experience, taking place September 23-24 in Syracuse.

Designed for the next generation of credit union leaders, Catalyst offers leadership development, networking opportunities, and practical insights to help participants grow in their careers while building lasting connections with peers from across New York.

Register by July 24 to take advantage of early-bird pricing. The hotel reservation deadline is August 22, and registration closes September 9.

ILoveMyCreditUnion Day is Friday, July 31!

On Friday, July 31, credit unions around the world will come together to celebrate the credit union difference during #ILoveMyCreditUnion Day.

Whether you’re planning a full social media campaign or simply sharing a member story, every post helps raise awareness of the positive impact credit unions make in their communities. The official #ILoveMyCreditUnion toolkit includes ready-to-use graphics, logos, social media resources, promotional ideas, and more to help make participation easy.

Download the toolkit, start planning your campaign, and join the movement on July 31 using #ILoveMyCreditUnion.

Credit Union Board Modernization Act Becomes Law

After years of advocacy by the credit union movement, the Credit Union Board Modernization Act has officially become law as part of the broader 21st Century ROAD to Housing Act.

The legislation provides qualifying federal credit unions with greater flexibility in how often their boards meet while also advancing initiatives to support mentorship opportunities for smaller financial institutions and streamline the formation of new credit unions. The achievement reflects years of collaboration among credit unions, state leagues and associations, and America’s Credit Unions.

Read the full article to learn what the new law means for your credit union and the advocacy efforts that helped make it possible.

Meet the Newest Account Executive from TruStage, Don Bader

Please join us in welcoming Don Bader as the newest Account Executive with TruStage.

Don brings 25 years of B2B sales leadership experience, with expertise in building strategic partnerships that drive growth throughout the credit union ecosystem. His background also includes 15 years in indirect lending, where he has helped credit unions develop lending strategies, expand market reach, and mitigate risk.

We look forward to working with Don as he supports New York credit unions and their strategic growth initiatives.

Keeping the American Dream Alive for Generations

Written by Meghan Small, America’s Credit Unions Chief Communications & Marketing Officer

Coinciding with the 92nd anniversary of the Federal Credit Union Act and the 250th anniversary of our nation’s independence, America’s Credit Unions launched a national policymaker influence campaign, “Once Upon an American Dream.”

This campaign is not to raise awareness of the credit union movement among consumers. It is intended to enhance our recognition, impact, and trust among federal lawmakers, regulators, and administration officials.

With those policymakers as our focus, your ability to serve not only your current members, but also reach more Americans, will see the results.

In today’s financial services marketplace, there is significant competition from large banks, fintech companies, and nontraditional lenders. Compliance burdens, many of which have been put in place to deter bad actors, are a crushing weight on the broader industry.

We want lawmakers and regulators to recognize that credit unions are different. Credit unions are the original consumer protectors. Credit unions are the path to economic freedom.

The campaign will make this clear by emphasizing credit unions’ longstanding commitment to putting people over profit and serving communities that are often left behind by banks. It will highlight the tremendous economic impact and value you create for your local communities and the nation as a whole. It will draw the stark contrast of what financial services would be like without you in it.

This campaign is being driven by America’s Credit Unions, but you are the reason for it. With strong support of federal policymakers to provide legislative and regulatory modernization, flexibility, and opportunities for innovation, access to credit unions will grow. Your ability to make a difference in people’s lives will amplify.

America’s Credit Unions is committed to being your voice in Washington. We are committed to securing an environment where you and your members thrive. This campaign is just one component of our unified strategy.

You’ve been making the American dream come true for millions of families. Working alongside you and your League, we will protect this for generations to come.

Upcoming Webinars from CUCollaborate

Looking for a quick way to stay current on industry trends? CUCollaborate has two upcoming webinars that offer timely insights for credit union leaders.

On July 22, The Quarterly Download: A Quick Review of Current Merger Trends will examine recent merger activity, including completed mergers, asset sizes, and emerging trends.

Then, on August 12, The Credit Union Growth Playbook: How to Build Sustainable, Member-Driven Growth will explore practical strategies for long-term growth, member value, and opportunities created through Low-Income Designation and CDFI certification.

Learn more and register!

WOCCU Releases White Paper on Stablecoins and the Future of Cooperative Finance

As digital payments continue to evolve, the World Council of Credit Unions (WOCCU) is helping credit unions prepare for what’s next.

Its new white paper examines how stablecoins could shape the future of cooperative finance, explores the changing regulatory landscape, and outlines both the opportunities and challenges these emerging technologies may present for credit unions.

Read the white paper to learn more.

---

Stay ahead of the curve by subscribing to receive credit union news and updates directly to your inbox.