Case Study: Prime Trust Federal Credit Union streamlines fraud detection and BSA/AML compliance with Verafin

Prime Trust Federal Credit Union - Customer Case Study

Prime Trust Federal Credit Union, a $156M credit union in Muncie, Indiana, was struggling with time-consuming, manual BSA and fraud monitoring processes, including OFAC file imports, cash and check transaction reviews, and 314(a) searches. The team needed a more efficient solution that integrated smoothly with its Symitar Episys core system, and turned to Verafin for help.

Verafin implemented a cloud-based FRAMLx platform that integrated seamlessly with Symitar, automating daily data transmission and giving staff a user-friendly way to manage BSA/AML compliance, SARs, CTRs, vendor management, and fraud monitoring. With Verafin, Prime Trust streamlined its paper-heavy processes and quickly caught multiple fraud schemes, including elder abuse, check kiting, structuring, and money laundering, helping prevent damage to the credit union and its members.

Prime Trust Federal Credit Union

Dana Baker

Senior VP of Operations