Credit Union Times Magazine February-23, 2000

• Cutting across political lines, lawmakers form privacy caucus

  By Staff Writer

  WASHINGTON-Four members of Congress who opposed passage of the financial modernization bill (in final form, the Gramm-Leach-Bliley Act, aka, S-900 and H.R. 10 in previous incarnations) and who, in floor debate expressed their concerns for the turnover of individual privacy control from persons to institutions and vowed to fight on...

• CUs urged to add female marketing pitch to bring in new business

  By Jim Rubenstein

  LAS VEGAS - Credit unions should be paying closer attention to customer motivation and family dynamics in developing their product and service mix if they expect to be competitive. That advice comes from Kathy Brown, senior vice president-branch administration at University Federal Credit Union in Birmingham, Ala. and head of...

• Educational Credit Union Conference kicks off with marketing focus

  By Eileen Courter

  NEW ORLEANS - Marketers have sometimes quipped they feel like Rodney Dangerfield - nobody gives them any respect. Well, the times may be changing. One sign is the fact the Education Credit Union Council kicked off its annual convention with a first-ever full-day pre-conference session devoted to marketing. John Blom,...

• CUNA says poll shows credit unions are `new voice in America'

  By Staff Writer

  WASHINGTON - With results from a recently released, joint Republican-Democratic poll showing credit union members now make up 41% of the U.S. electorate and that 69% of the "active" half of this number favor candidates who support CU issues, CUNA is touting the 78-million member-strong CU community as a political...

• Consumer groups press attack on Arizona payday lenders

  By Jim Rubenstein

  PHOENIX, Ariz. - Reflecting a stepped up legislative campaign against payday lenders, Arizona consumer groups have accused the industry of loan sharking and "atrocious predatory practices" and urged the state legislature to reject a state Senate bill legalizing the rate structure of the storefront facilities. "Arizona should strictly enforce the...

• `Alternative' payday lending product to be studied at CUNA GAC

  By Jim Rubenstein

  KENT, Ohio - Are there "alternative" products that credit unions should be offering to compete with payday lenders? That's a question that will be considered at the GAC meeting next week, according to Rose Bartolomucci, chairman of the CUNA State Issues Subcommittee which has been studying the payday phenomenon since...

• Iowa League joins other CU industry pioneers seeking CU trust service powers

  By Staff Writer

  DES MOINES, Iowa-Trust services traditionally have not been a widespread credit union industry offering, but every so often a certain amount of interest crops up. The Iowa Credit Union League is hearing rumblings of interest from some credit unions in the state. This isn't surprising at a time when savings...

• Capital, loan participation on the minds of corporate leaders

  By Staff Writer

  WASHINGTON - The Association of Corporate Credit Unions isn't looking for NCUA to tinker with corporates' capital mechanisms.

• Legal costs may soar as NCUA officials retain counsel; D'Amours defends move

  By Staff Writer

  ALEXANDRIA, Va.-The continuing fallout from the National Credit Union Administration's closed board action to put three of its regional directors on notice of determined penalties (Jane Walters, Region VI, Nicholas Veghts, Region IV and Alonzo Swann III, Region III) and to punish Deputy RD Timothy Hornbrook (Region III) Supervision Director...

• WesCorp can now offer CUs access to derivatives market to help hedge interest rate risk

  By Staff Writer

  SAN DIMAS, Calif. - WesCorp has become the first corporate credit union in the nation to be granted derivatives vendor status from NCUA. WesCorp can now implement a derivative hedging program as allowed under Part 703 of NCUA's Rules and Regulations. The new authority is significant because it can help...

• Respondents rate Missouri shared branches `excellent' in most categories

  By Staff Writer

  ST. LOUIS, Miss.-When Missouri Credit Union League staff members wanted to find out what members thought of service at nine shared branch locations within the Credit Union Shared Branch (CUSB) network, they decided the best thing to do was ask. So they did a survey, which members were able to...

• New NAFCU skipper to use technology, teamwork to `reach out and touch' FCUs

  By Staff Writer

  ARLINGTON, Va. - NCUA's sluggish SEG application process is the main concern of NAFCU members, NAFCU President Fred R. Becker, Jr. said in his first formal press interview February 15, but other issues such as NCUA budget increases, H.R. 1151 and financial services modernization implementation, and bankruptcy reform also loom...

• Not even e-commerce initiatives can survive as Net-based only

  By Staff Writer

  BURBANK, Calif. - No Net service is an island. Credit unions that have launched Internet lending programs have quickly learned that the credit union must provide members with the ability to talk to a "live" person, whether it's the credit union's own internal member service center or a contracted call...

• WesCorp opens new processing site

  By Staff Writer

  NONE

• As $10 trillion in estate funds shifts hands, trust services gain importance

  By Staff Writer

  TAMPA, Fla.-Suncoast Schools Federal Credit Union members have access to something that is quite unique within the credit union industry: Trust services are available to them through Suncoast's credit union service organization, Members Trust Company.

• CUNA supports NACHA's proposed operating rule amendment, but turns down association's truncation pilots

  By Staff Writer

  WASHINGTON - Contin-uing its push to increase credit unions' visibility with the National Automated Clearing House Association (NACHA)-Electronic Payments Association and for CUNA to be involved in the association's rulemaking affairs, CUNA has voiced in a comment letter its support for NACHA's proposed amendment to its Operating Rules concerning the...

• DATELINE WASHINGTON

  By Staff Writer

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• CUNA says two-month grassroots effort can get pro-credit union bankruptcy legislation passed

  By Staff Writer

  WASHINGTON - CUNA says it is gearing up to launch a full-court press to get bankruptcy reform legislation passed that preserves credit union members' reaffirmation right.

• Some credit union tech vendors actually flourished in fourth quarter '99

  By Staff Writer

  WORLD WIDE WEB- Not all credit union tech vendors were stung by a dearth of new sales in fourth quarter `99 due to Y2K

• Equifax acquisition repositions company in direct marketing industry

  By Staff Writer

  ATLANTA and DETROIT - Continuing its track record of developing business partnerships with an eye toward moving beyond its core credit reporting business and expanding its position as a major contender in the information management and transaction processing industries, Equifax has acquired R.L. Polk & Co.'s Consumer Information Solutions (CIS)...

News

• Gallagher honored by Wheat, Missouri Credit Union League

  By Staff Writer

  ST. LOUIS, Mo. - More than 80 friends of John Gallagher, including credit union representatives and state legislators, turned out at a banquet on Feb. 10 to make a good-bye toast to the former president/CEO of the Missouri Credit Union System and to honor his 34 years of service to...

• Call center staff faces increasing challenges as Internet comes of age

  By Staff Writer

  BOSTON-When setting up a call center of any size, one important consideration is who will staff it. Obviously, calls must be handled professionally if the call center is to be a success. This can be quite a challenge in an age of increasing Internet usage, said Chris Stanvick, a consultant...

• OK WITH PCA

  By Staff Writer

  NASCUS unruffled by NCUA new PCA regulations, but still aware of possible effects on state-chartered CU........Page 12

• Shared branching `pioneer' SCC moves toward national network

  By Staff Writer

  SOUTHFIELD, Mich.- For years, Service Centers Corporation has operated as Michigan's only credit union-owned shared branch and automated teller machine network. But as SCC enters its silver anniversary year, the company is also celebrating achieving a longtime goal - contracts have been signed closing two key regional partnerships that eventually...

• Utah Senate considers bill limiting initiative process

  By Staff Writer

  SALT LAKE CITY - A little more than a year after the Utah Credit Union League, at the height of their field-of-membership legislative fight with the Utah Bankers Association, collected more than 104,000 signatures from residents in six weeks on an initiative bill that would have allowed credit unions to...

• NEW CORPORATE PRECEDENT

  By Staff Writer

  WesCorp is first corporate U.S. CU to receive authority to implement derivative hedging program.............................Page 4

• NASCUS remains calm in face of PCA storm

  By Staff Writer

  ARLINGTON, Va. - The jury is still out on NCUA's recently released final PCA rules and proposed risk-based net worth requirements for federally-insured "complex" credit unions (CU Times Feb. 9). For now at least, NASCUS does not expect the new rules and regulations to trigger a domino effect of credit...

News Briefs

• Digital Insight, nFront finalize merger

  By Staff Writer

  CALABASAS, Calif. - In terms of number of financial clients, the new Digital Insight is the largest Internet banking provider in the financial services industry. Digital Insight announced that its acquisition of nFront, Atlanta, Ga. is complete. The new Digital Insight now has more than 730 community financial institution clients,...

• Equifax, Intell-A-Check jointly offer on-line check payment solution

  By Staff Writer

  ATLANTA and NEW YORK- Continuing the trend in the development of electronic payment solutions, Equifax's Check Solutions unit and Intell-A-Check Corp. have sealed an alliance that company officials say will offer consumers and retailers a one-stop check payment solution, including identity verification, quick check approval, and the creation of a...

• PSCU dedicates its new operations center to members

  By Staff Writer

  ST. PETERSBURG, Fla.-Payment Systems for Credit Unions Inc. has held a ribbon cutting for its new operations center building, attended by more than 500 staff members and cardholders, including some from PSCU's five founding credit unions. "PSCU Service Centers became operational in 1989 with 840,000 accounts and currently we are...

• OCC's Tanoue urges House Financial Subcommittee to merge insurance funds

  By Staff Writer

  WASHINGTON - Reminding members of the House Subcommittee on Financial Institutions and Consumer Credit on Banking and Financial Services that "as we learned in the late 80's, the deposit insurance funds stand between bank failures and the American taxpayer," FDIC Chairman Donna Tanoue urged the subcommittee to recommend a merger...

• Texans credit union joins billion-dollar CU club

  By Staff Writer

  RICHARDSON, Texas - Texans Credit Union has become the latest credit union to reach the $1 billion-in-assets milestone. Texans CU was founded in 1953 by 11 Texas Instruments employees who each pooled $5 and petitioned the Texas Banking Commission to charter a financial cooperative for employees of Texas Instruments. At...

• EDS sells 4,500-plus ATMs to American Express

  By Staff Writer

  PLANO, Texas - EDS continued the sell off of its once extensive ATM network.

• Benefit Consultants' California operation moves to Tennessee

  By Staff Writer

  SAN CARLOS - Benefit Consultants, a direct marketer of insurance, announced plans to move its operations from San Carlos to Nashville, Tenn.

• Southwest Corporate enters 25th anniversary year

  By Staff Writer

  DALLAS-The nation's first regionally chartered corporate credit union will celebrate its 25th anniversary this year, said officials at Southwest Corporate Federal Credit Union. Chartered on Sept. 3, 1975, the corporate that has reached almost $4 billion in assets and serves 1,200 members began "with a handshake, $35 and a promise...

Letters to the editor

• Plenty of credit union leaders

  By Staff Writer

  Don't lose faith, Mike! Just come to California. The credit union leaders are all around you. For the last five years, I have had the opportunity to serve on several key committees, the California Credit Union League Assembly of Delegates, and for the last year on the California Credit Union...

• Will the truth prevail in NCUA's survey on "Service to people of Modest Means?

  By Staff Writer

  Can we agree that NCUA's responsibility, per the Federal Credit Union Act, is to "form" safe and sound," single, multiple or community group credit unions? Can we agree this survey was mailed to all "existing" federal credit unions who passed these charter requirements "long ago"? Is it not true that...

Briefs

• 7th Annual CMC Marketing Conference begins March 22

  By Staff Writer

  ORLANDO, Fla.-The CUNA Marketing Council's 7th Annual International Marketing Conference March 22-25 will feature a full list of guest speakers, roundtable discussions, workshops and marketing displays. Also on tap is the council's presentation of the Diamond awards for "the highest achievements in credit union marketing for the past year." Among...

• "Direct Line" program links callers to sales teams

  By Staff Writer

  NEW YORK-"Direct Line," a cross-selling program designed to provide credit unions with "a key delivery channel" to market their products, is now available from Line One Teleservices. Line One Teleservices has provided marketing and consulting services for hundreds of financial organizations nationwide during the last five years, company officials said....

• Abacus Communications opens Dallas call center

  By Staff Writer

  VIRGINIA BEACH, Va.-Abacus Communications LC, a national e-commerce and teleservices call center company with headquarters in Virginia Beach, Va., has announced the opening of a new 106,000 square-foot facility here on Stemmons Freeway. "Abacus Communications continues to experience a high rate of growth in the call center and e-commerce service...

Opinion

• Support your local credit union ATM network

  By Staff Writer

  In the credit union movement we talk a lot about cooperation. Thankfully, we don't just "talk the talk". We also "walk the walk." Perhaps one of the best contemporary examples of this cooperative spirit is found in the very dynamic environment of ATM networking. Cooperation is rarely perfect or as...

Staking Out the Stats

• Multiple Common Bond Credit Union Expansions

  By Staff Writer

  JANUARY 1 - FEBRUARY 11, 1999 REGION

Publisher's Column

• Credit unions look at change at least three ways

  At one time, there were over 24,000 credit unions. A large credit union was one that weighed in at or above $20 million in assets. Most were plain vanilla. How times and credit unions have changed. Before long the number of CUs will be less than 10,000, with 36 of...

People

• VENDORS

  By Staff Writer

  BISYS, Little Falls, N.J., a provider of banking, insurance and mutual fund solutions and internet-based products and services, has named Christopher M. Guarino as president of its plan services division. CUMAnet, W. Patterson, N.J., has appointed Ira Oskowsky president. Online Resources & Communications Corp., McLean, Va., an outsourcing provider of...

• WEST

  By Staff Writer

  First Financial CU, W. Covina, Calif., has named Jerry C. Harpstrite vice president of marketing. Point Loma CU, San Diego, has named Michael Alvarado IT manager, and Angela Haas Rancho Bernardo branch manager. The Golden 1 CU, Sacramento, Calif., has made the following appointments: Lisa Swanson, vice president of e-commerce;...

• MIDWEST

  By Staff Writer

  Iowa League Corporate Central CU, W. Des Moines, Iowa, has named Jonathan Sarvis financial analyst. Iowa CU League, W. Des Moines, Iowa, has named Stacie Lightner education specialist.

• EAST

  By Staff Writer

  Diamond CU, Pottstown, Pa., has named Robert Slivka vice president of information technology. Roanoke Valley FCU, Va., has named Ben Laurendeau CEO. He succeeds Gardner Divers, who is stepping down after serving as FCU manager for 20 years. Workers CU, Fitchburg, Mass., has named Charles B. Troccia senior vice president...