In a significant move for the financial sector, Charm Security and Curql Collective have introduced the National Member Protection Initiative (NMPI). Debuting during the Federal Trade Commission’s National Consumer Protection Week, this initiative is set to revolutionize how credit unions tackle the growing threat of scams and fraud.
According to Roy Zur, Co-Founder and CEO of Charm Security, "Credit unions are on the front lines of protecting people. NMPI brings AI into high-risk moments, where it matters most: helping institutions understand human context, intervene earlier, and protect members before financial and emotional damage occurs.”
The NMPI aims to instill a new benchmark for member protection by integrating artificial intelligence into the processes of credit unions. Five credit unions are part of the initial cohort, namely InTouch Credit Union, Lake Trust Credit Union, Elements Financial, ORNL Federal Credit Union, and Altra Federal Credit Union.
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Highlighting the urgency behind this initiative, a 2025 State of Scams USA report revealed startling statistics: nearly 70% of Americans encountered scams, leading to an estimated loss of $64 billion in the past year. This underlines the pressing need for a proactive shift in how financial institutions protect their members from malicious schemes.
The collaborative environment established through NMPI empowers participating credit unions to work together while gaining practical experience with Charm Security’s advanced AI technology. This partnership will allow these institutions to test and refine AI-driven strategies designed to enhance member protection, minimize loss, and maintain trust within their communities.
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Nick Evens, President and CEO of Curql Collective, emphasized the necessity for the credit union industry to adapt rapidly to these evolving challenges. "Scams are one of the fastest-growing threats facing credit union members, and the industry can't afford to stand still," Evens stated. "The National Member Protection Initiative puts credit unions in the driver's seat, brings them early access to AI capabilities, fosters collaboration, and sets a higher bar for what member protection should look like in the digital age.”
"Scams are one of the fastest-growing threats facing credit union members, and the industry can't afford to stand still,"
The initiative marks a paradigm shift in how credit unions respond to financial crime. Acknowledging that fraud has evolved into a more sophisticated attack centered on human behavior, NMPI represents a critical change from merely detecting fraud to a more proactive stance that includes prevention, intervention, and resolution.
As this initiative unfolds, member-focused credit unions are positioned to spearhead the industry’s next chapter, utilizing AI not just as an add-on, but as an integral part of ensuring member safety in an increasingly digital world. The focus will be on transforming the operational standard for all credit unions, encouraging them to innovate their approaches in protecting their clients against the rising tide of fraudulent activities.
The implications of the NMPI extend beyond mere financial transactions; its success could redefine trust in the financial sector at large. With an industry-wide commitment to these objectives, the potential for safeguarding members significantly increases, ensuring not just their assets but their peace of mind as well.