Credit Union Exam Solutions Presents With Flying Colors Beyond Fraud Detection: Making AI a Strategic Partner in Credit Unions with Ray Ragan
Sep 2, 2025
Ray Ragan, CIO of Securityplus Federal Credit Union, shares his expertise on transforming AI from mere fraud detection to a strategic asset for credit unions. He discusses leveraging the NIST AI Risk Management Framework for policy development and the importance of human accountability in AI integration. Ray emphasizes the need for data-driven decision-making, navigating regulatory changes, and adopting agentic AI to enhance operational efficiency and marketing strategies. His insights highlight why forward-thinking is essential for credit unions to stay competitive.
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From Defense AI To Check‑Fraud Patents
- Ray described his AI work in defense and a patent for computer‑vision check fraud detection.
- He uses that experience to apply novel AI ideas to credit union operations.
Follow NIST As Your Practical Starting Point
- Embrace the NIST AI Risk Management Framework as the best available guidance for credit unions now.
- Build board‑approved AI policy, risk assessments, and data governance before broad deployment.
Prepare Policy And Risk Work Before Using LLMs
- Prepare a board‑approved AI policy that defines allowed uses and human accountability.
- Conduct a comprehensive risk assessment and classify data before feeding it to LLMs.