Y-12 Farragut recognized for fighting fraud
Y-12 Credit Union, with a branch in Farragut, recently was recognized for its efforts to reduce fraud losses and decreasing manual interventions through automation.
For example, the Oak Ridge Y-12 Credit Union was the recipient of the 025 Cobalt Award, presented by Jack Henry (Nasdaq: JKHY). The national recognition honors financial institutions and fintechs that are redefining service to members and communities through innovation, technology and education, according to a press release from the financial institution.
“Y-12 Credit Union was recognized in the Changemakers category for reducing fraud losses by 93 percent and decreasing manual interventions by nearly 80 percent through automation,” the release stated. “The achievement positions the East Tennessee-based credit union as a leader in protecting members while advancing innovative financial solutions.”
The award was presented this fall at the Jack Henry Connect annual client conference in San Diego, California. Y-12 Credit Union was honored alongside five other financial institutions from across the United States.
“Winning the Cobalt Award is a proud moment for Y-12 Credit Union and the members we serve,” chief technology and Innovation officer Todd Richardson said. “It is a testament to our team’s dedication to putting members first — protecting their financial well-being while leveraging innovation that enhances financial freedom.
“We are honored to represent East Tennessee on a national stage, and we will continue to provide excellence in innovation across all member services,” he said.
In addition to the award, recipients were given the opportunity to designate a charity to receive a one-time $10,000 donation from Jack Henry and selected the Y-12 FCU Gives Foundation, furthering its mission to combat childhood hunger.
For more information about Jack Henry and the Cobalt Awards, visit Jack Henry, a financial technology company that strengthens connections between financial institutions and the people and businesses they serve.
Y-12 Credit Union, founded in 1950 in Oak Ridge, provides innovative, member-first banking solutions. Serving Tennessee, Kentucky, Alabama, Georgia, North Carolina and Virginia, it offers 24 branches across East Tennessee and Southeast Kentucky and seamless digital banking options.
Membership also is available through the Y-12 FCU Gives Foundation. Visit the website or a branch.
