The Minnesota Credit Union Network (MnCUN) collaborated with the Financial and Retailers Protection Association (FRPA) on training, education and resource sharing to prevent and address financial fraud. Leveraging advanced fraud prevention tools, this collaboration also aligns with developments in the cyber security market to enhance protections for financial institutions.
The strategic step of MnCUN and FRPA will aim on the following objectives:
- Fraud prevention education through joint workshops and educational sessions to raise awareness of fraud trends, scams, and financial crime mitigation;
- Sharing best practices, investigative strategies, and insights on emerging fraud threats with credit unions and financial institutions statewide;
- Creating and distributing fraud prevention materials, reports, and alerts tailored to credit unions;
- Information sharing and establishing secure channels for exchanging fraud intelligence, alerts, and investigative insights; and
- Legislative and advocacy collaboration on policy initiatives to enhance fraud prevention laws and regulations affecting credit unions.
The MnCUN‑FRPA alliance plans to conduct regular simulation exercises as well as tabletop scenarios for credit union staff, enabling them to rehearse responses to fraud events under controlled conditions.
These drills will aim cross‑institutional coordination, rapid decision‑making, and communication protocols. The partners also intend to launch a shared analytics dashboard that aggregates anonymized fraud data in real time, allowing participating credit unions to spot patterns or spikes in suspicious activity earlier. Together, these measures are designed to create a proactive, networked defense against increasingly sophisticated financial threats.
Executive Statement
According to Mara Humphrey, MnCUN president/CEO, the partnership between MnCUN and FRPA is vital for helping Minnesota credit unions to stay ahead of evolving financial threats. By joining forces, they are expanding access to specialized training, real-time fraud intelligence, and collaborative resources that will strengthen member security and help build even greater trust within their communities.
