Piedmont Advantage Credit Union (PACU) started in 1949 to serve airline employees. Today, the Winston-Salem, NC-based credit union has 41,616 members and over $355M in assets.
Piedmont Advantage Credit Union needed a check fraud prevention solution for its over 100 employees, including tellers and back office staff. To learn more, read the Advanced Fraud Solutions case study.
Challenge
Piedmont Advantage Credit Union experienced losses related to check at the frontline as well as through remote deposit channels.
Solution
By implementing TrueChecks over a two-year period (Sept. 2016 – Sept. 2018), Piedmont Advantage Credit Union denied 1,163 checks valued at $2.05M.
TrueChecks is a tool that we trust and use constantly to supplement our procedures.
Jan Duggins, Fraud Specialist at PACU
Piedmont Advantage Credit Union and TrueChecks
With the collaborative power of the TrueChecks® database, banks and credit unions can mitigate fraud in real-time and benefit from:
- A vast fraud database comprised of data from a large network of financial institutions, item processors and optional third-party sources for account status data.
- Real-time responses on counterfeit, NSF, Closed Account, Duplicate and other fraudulent items.
- Easy API-based integration into existing and familiar workflows.
- Decisioning with Reg CC-recommended action and associated risk.
