Credit Union Times Magazine June-28, 2000

In Other News

  • SCHOLARSHIPS

    Robins Federal Credit Union, Warner Robins, Ga., has awarded five high school students each a four-year, $4,000 scholarship. Named "Most Excellent Senior Team", the five graduating students, who are also credit union members, were selected based on academic performance, community work and extracurricular activities. This year's team consists of the...

  • DONATIONS

    Xerox Federal Credit Union, El Segundo, Calif., has raised over $4,500 for breast and ovarian cancer research. Over 45 XFCU staff participated in the Revlon Run/Walk for Women event. In addition, XCFCU President/CEO Bill Cheney has been named "Professional of the Year" by the National Association of Federal Credit Unions...

  • AWARDS

    Pennsylvania Credit Union League, Harrisburg, has awarded Service 1st Federal Credit Union CEO William J. Lavage the 2000 William W. Pratt Professional Lifetime Achievement Award and Norristown Bell Credit Union Treasurer Floyd Gladfleter the 2000 Joseph A. Moore Volunteer Lifetime Achievement Award. In addition, the PCUL has awarded the Dora...

  • Credit unions warming up to financial aggregation concept

    WORLD WIDE WEB - Keep up or be left in the wake of another financial's Web site. That's the take many credit union leaders are offering on the somewhat controversial tech service of aggregating members' financial data in one place on the Web. Aggregation of consumers' financial data really came...

  • CUNA commissions study of NCUA's budget process

    WASHINGTON - Show me the money, or in this case, show me where the money is going. That's what CUNA is saying regarding NCUA's budget. CUNA has commissioned a study of the budget and budget process of NCUA. CUNA stresses that while it will assist in the study, the bulk...

  • CUNA Mutual dedicates one day of Discovery Conference to small CUs

    SEATTLE - CUNA Mutual Group took its annual Discovery Conference down a different path this year with one day dedicated solely to small credit unions. Thus far the four-year old conference has tended to attract larger credit unions, according to CUNA Mutual officials. This year CUNA Mutual wanted to step...

  • Community First Credit Union hosts Japanese bankers

    SANTA ROSA, Calif. - A cultural bridge was recently built when Community First Credit Union hosted a group of Japanese Shinkin Bank executives representing Kinki Chiku Shinyo Kinko financial. Shinkin Banks are cooperative financial institutions that function similarly to American credit unions and mutual savings banks. There are approximately 400...

  • CO-OP Network to offer SafeDebit for enhanced security with e-commerce

    ONTARIO, Calif. - E-commerce has taken the credit union industry by storm over the last few years. The CO-OP Network wants to help CUs make sure their members are safe when shopping online. CO-OP Network will soon be able to help credit unions offer their members a more secure way...

  • Credit unions can emphasize the value of checking accounts, increase penetration without fees

    MOUNDS VIEWS, Minn. - Of the 11,000 credit unions in the U.S., an estimated 6,800 offer checking accounts. But among those CUs offering the product, there's less than 50% member penetration. Why isn't that number higher and is it possible to increase it without attaching fees to checking accounts? Yes,...

  • Royce bill would lift H.R. 1151-MBL cap

    WASHINGTON - Credit unions that serve non-profit religious organizations will be exempt from the 12.25 percent-of-asset cap on member business loans if Congress passes a bill introduced June 20 by Rep. Ed Royce (R-Calif.), a member of the House Banking Committee. The Faith-Based Lending Protection Act-H.R. 4701-is backed by the...

  • Report on predatory lending recommends swift action by Congress, regulators

    WASHINGTON-Taking advantage of the poor and uneducated to the point of making them homeless as a standard business practice would seem to be something ethical lenders and investors would avoid. And targeting low-income neighborhoods, especially African-American communities, in order to strip homeowners of the equity in their homes might be...

  • Press slights credit union online ventures, consultant charges

    ALBUQUERQUE, N.M. - Credit unions need to vigorously step up their public relations when it comes to touting advances in online home banking, a Dallas-based marketing consultant has suggested. Addressing the annual convention of the New Mexico Credit Union League here, Denise Wymore, the top creative executive for Extreme Arts...

  • Member loyalty key in online banking

    ALBUQUERQUE, N.M. - Whether they realize it or not, credit unions remain "in the driver's seat" when it comes to home banking and bill payment products and they should use their advantage of member loyalty to the ultimate. That's the advice of a Denver technology consultant, Michael Atkins, president of...

  • NACHA votes to add credit union seat on board

    WASHINGTON - Culminating months of talks, the National Automated Clearing House Association (NACHA) -The Electronic Payments Association voted June 16 to adopt a new reorganization plan that includes, for the first time, a guaranteed seat for a credit union representative on the NACHA Board. NACHA officials said the reorganization will...

  • Potential problems of e-signature legislation

    WASHINGTON - While members of Congress and the Clinton Administration have been touting the potential boon recently passed e-signature legislation will have on e-commerce, credit union groups and consumer groups say the bill leaves a lot of unanswered questions. The bill, S. 761, the Electronic Signatures in Global and National...

  • Financial Network Action Consortium formed by CDCUs

    NEW YORK-Where the need is great, so too should be the response, said Peter Bray. "There are an estimated one-million households in the New York metropolitan area that are unbanked," said Bray, a former director of Bethex Federal Credit Union, Bronx, who had just resigned that post to form a...

  • Recognizing predatory practices is only the beginning of the fight, say experts

    DENVER-A workshop held here during the National Federation of Community Development Credit Unions' 26th annual meeting focused on current trends in the predatory mortgage market and the payday loan business. Tony Hernandez, director of the local office of Fannie Mae, defined predatory practices as standard mortgage practices "taken to an...

  • Peoples Credit Union sponsors "pots of gold" contest

    MIAMI - Recently, there were "pots of gold" to be found at North Miami High School. In conjunction with the school's Quisqueya Club Haitian Flag Day celebration, Peoples Credit Union sponsored an essay contest. Each grade had to write about different aspects of Haitian history and culture. "In a school...

  • MembersResources.com forms CUSO

    MILFORD, Conn. - In a move that Members Resources.com CEO Mark Sessel points to as proof of the company's commitment to serving only credit unions' portal needs, the company has formed a CUSO. "We wanted to give credit unions a voice in the direction and policymaking of the company. We've...

  • c2Future.com gives away Ford Explorer

    DALLAS - Giving away cash and prizes isn't just for game shows. Web firms have been using the give-away concept to try and drum up interest in their Web sites. c2Future.com, the publisher of eMoneyDigest, a Web-based personal financial lifestyle publication specifically for credit unions, recently gave away a fully-equipped...

  • CU exec resigns to start e-statement firm

    CHANTILLY, Va. - Ron Daly, a former CFO of the $650 million Northwest FCU, Herndon, Va., has retired from the CU to start a new tech firm specializing in electronic statements. The new firm, Digital Mailer, provides credit unions with customizable electronic member statements, with an emphasis on one-to-one marketing....

  • Campus Credit Union Council calls for change in FOM proposal

    WASHINGTON - The Campus Credit Union Council is requesting that NCUA reconsider a field-of-membership proposal that could have unknown long-term impact on credit unions that serve colleges and universities. The proposed rule states that credit unions could not simply add alumni of a certain college based solely on the fact...

  • The aggregation threat from non-financial providers

    There are few companies in the world that can rival the aggregation power of an America Online or a Microsoft. Unfortunately for credit unions, both of these tech giants have announced financial aggregation plans. * AmericaOnline will leverage its different brands to bring the service to millions of Web surfers....

  • A successful conference? It's all in the details

    SAN FRANCISCO - It was a conference planner's nightmare. The event, an Education Credit Union Council annual convention in San Francisco, was running smoothly. Attendees were looking forward to an evening dinner cruise on San Francisco Bay. Then gale force winds hit and the Coast Guard closed the bay to...

News

News Briefs

  • Mellin appointed new president/CEO, NYSCUL

    ALBANY, N.Y. - The New York State Credit Union League Board of Directors has appointed William Mellin as the league's new president/CEO. Mellin assumes the position immediately. He replaces R. Wayne Diesel who held the position from 1998 to 2000 and who announced his retirement from the league last month...

  • Mazuma Credit Union holds children's safety clinic

    KANSAS CITY, Mo. - Mazuma Credit Union recently held a safety clinic where the Kansas City branch of the National Center for Missing and Exploited Children photographed more than 60 children. "According to the United States Department of Justice, over one million children run away or are reported missing or...

  • House expected to vote on HUD-VA bill

    WASHINGTON - At press time, the House was expected to vote late in the day June 21 on a HUD-VA and Independent Agencies Subcommittee spending bill that would also set a $3 billion cap on the NCUA Central Liquidity Facility's (CLF) borrowing limit in FY2001. The cap was originally recommended...

  • Keeler steps down as NAFCU chairman

    ARLINGTON, Va. - Ron Keeler, president of Lockheed FCU and chairman of NAFCU has announced his midterm resignation from his position on the association's board. Keeler gave as the reason for his decision his interest in putting more time into planning for his retirement from CU service. Keeler became chairman...

  • Nazarene Credit Union merger with Sacramento District FCU complete

    LOOMIS, Calif - After six months of working out details, Nazarene Credit Union and Sacramento District Federal Credit Union have merged and opened a new office here. With this merger, NCU has gained an additional $6 million in assets along with over 1,200 members in the Northern California area. "We're...

  • Greenspan sworn into 4th term

    WASHINGTON - Alan Greenspan was formally sworn into his fourth, four-year term as chairman of the Federal Reserve Board June 20. Greenspan has served as the Fed chairman since Aug. 1987. He was nominated to his latest term Jan. 4 and was confirmed by the Senate Feb. 3

  • Ethicon Employees FCU changes name

    BRIDGEWATER, N.J. - Ethicon Employees Federal Credit Union has changed its name to Financial Resources Federal Credit Union. Although still serving Johnson & Johnson employees, the name change reflects FRFCU's new Credit Union Service Organization, Financial Resources. The CUSO will offer stock and money market information, as well as mutual...

  • Retired WSECU CEO seriously injured in motorcycle accident

    SPANAWAY, Wash. - Bill Brandt, former president and CEO of Washington State Employees' CU in Olympia was seriously injured the morning of Saturday June 17 in a motorcycle accident. According to the Washington Credit Union League, Brandt was airlifted to Harborview Hospital in critical condition after his Honda ACE 1100...

  • U of C Federal Credit Union names new president

    BOULDER, Colo. - University of Colorado Federal Credit Union has named Bill Sterner President/ CEO. Sterner's background in the credit union industry includes management and consulting positions at the local, state, national and international levels. He served as U of C FCU vice president of marketing for three years and...

  • Alberta Credit Union System sets milestones

    CALGARY, Alberta, Canada - The Alberta Credit Union System's six month results for the period ended April 30 showed the system reached new milestones in assets and net income. Canadian newswire reports indicated there was a 12% increase in assets compared to the same period last year and a 6%...

Briefs

Letters to the editor

  • The Golden 1 is not the competition

    I enjoyed reading the Letters to the Editor ("Better for whom?", "Enough is enough") in the May 3 edition of Credit Union Times. I know Stuart Perlitsh and George Davis to be thoughtful CEOs; therefore, I was a bit surprised that they had joined the chorus of Cassandras who fear...

Opinion

  • The sign revolution is now

    When John Hancock signed the Declaration of Independence in 1776, he wrote his signature large-so large, the saying goes, "that King George would be able to read it without his spectacles." Under the new E-sign legislation (The Electronic Signatures in Global and National Commerce Act) passed by Congress, John Hancock...

Publisher's Column

  • It's time to toss outmoded common bond and FOM

    Credit unions people spend a lot of time debating common bond and field-of-membership issues, almost as much time as the banking industry and state and federal credit union regulators. What a colossal waste of time! There is no point in repeating here all the monkey business that credit unions must...

Quotes Worth Quoting

  • Quotes Worth Quoting...

    "We are talking about something that knows no bounds, and it needs to be cut." -Representative John LaFalce (D-N.Y.) on Internet gambling. LaFalce co-sponsored a bill that would ban the use of credit cards for online gambling. "This legislation takes e-commerce to the next level. Electronic signatures will help grow...

People

  • EAST

    Credit Union Mortgage Alliance Network, a credit union owned real estate organization, President Ira Oskowsky has been appointed to Fannie Mae's New Jersey Partnership Office Advisory Board. Western Division Credit Union, Williamsville, N.Y., has named the following members to its board: James Smeader, chairman; Leo Bain, vice chairman; David Supon,...

  • VENDORS

    Alliance Funding, a mortgage provider, has appointed Steven Trow regional loan manager. In addition, Alliance Funding has promoted Judy Macy to assistant vice president regional sales manager of the Midwest area. SensCom,Inc., an application service provider of wireless Internet solutions, has appointed Greg Bjorndahl president and chief operating officer. Card...

  • WEST

    Cabrillo Credit Union, San Diego, President/CEO Robin Lentz has been appointed to the Western Corporate Federal Credit Union Board of Directors. In addition, Cabrillo Credit Union has received a Diamond Award of Merit from CUNA Marketing Council for its four-color newsletter in the $50 to $149 million assets category. Columbia...

  • MIDWEST

    Fort Campbell Federal Credit Union, Ky., has elected the following members to its board: Col. Herbert B. Allen, chairman; Sam A. Salerno, vice chairman and supervisory committee chairman; James H. Thompson, secretary; Fred Newton, treasurer; Charles G. Crist, director; John P. Hunt, director; Boyce R. Meers, director; and A. Thelma...

Advertisement. Closing in 15 seconds.