Credit Union Times Magazine September-13, 2000

  • Desert Schools Federal Credit Union "adopts" Children of the World

    SUN CITY, Ariz. - Remaining true to its community service mission, which includes supporting and promoting local history, Desert Schools Federal Credit Union has restored a mural by Jay Datus, entitled "Children of the World". The 21 foot by 7.5 foot mural hangs along the primary wall of the branch...

  • `Don't call me "old"'

    MADISON, Wis. - Click through the channels on your television set and you would figure the world consists of young people 18-35 years old. After all, all those advertisers must know what they're doing when they flock to shows appealing to that age group - don't they? Not necessarily, according...

  • Credit unions need to offer consumers a Fair Deal to combat abusive fringe services

    MADISON, Wis.-A lot of talk has been floating around Washington regarding fringe financial services: what it is and how to define it. And while government is hemming and hawing over the subject, one book takes the matter on, head-to-head, explaining to credit unions how to provide alternatives to their members....

  • Arkansas Credit Union League forms its own foundation

    LITTLE ROCK, Ark. - The Arkansas Credit Union League has become the 23 credit union league to have its own credit union foundation. The league announced the formation of the Arkansas Credit Union Foundation to provide scholarships, disaster relief and grants to credit unions throughout the state. In addition, the...

  • Charlotte Metro CU launches Donate a Phone program

    CHARLOTTE, N.C. - Charlotte Metro Credit Union is leading a call to action. Participating with the Mecklenburg County Sheriff's Office in the national Donate a Phone program, CALL to PROTECT, Charlotte Metro CU wants your cell phone. The wireless cell phone that's no longer being used, the one that's sitting...

  • Credit unions asking more of their data processors

    WEST PALM BEACH, Fla. - Finding the profitable members; cross-selling across multiple delivery channels; providing tiered system access credit union wide; and on and on. These are things today's credit unions are looking for, and the pressure is on for credit union data processors to deliver. Data processing has evolved...

  • Credit unions monitoring AICPA discussions closely

    WASHINGTON - Certain accounting changes currently under consideration by the American Institute of Certified Public Accountants have raised more than a few eyebrows in credit union-land. Still in only the preliminary discussion stage, AICPA has assembled a task force to review accounting guidelines which could have quite an impact on...

  • Extreme Arts & Sciences asks credit unions to gear up

    EUGENE, Ore. - Extreme Arts and Sciences, a provider of tactical knowledge management solutions, invites credit unions to "gear up" for e-commerce and teamwork survival. One handy canvas gear bag holds the "Extreme Training Gear", a four-video workshop hosted by Extreme Arts & Sciences CEO Randy Harrington. According to Harrington,...

  • Renaissance Commission off to a strong start

    WASHINGTON-CUNA's 27 member Renaissance Commission has embarked on its ambitious mission to study federal charters, state charters, and NCUA structure and regulation. "It was a very energized meeting," CUNA President and CEO Dan Mica commented, regarding the commission's first meeting held August 31. "Everyone was enthused." The commission's Chairman Frank...

  • To be or not to be: bankruptcy reform

    WASHINGTON-Bankruptcy's on-again, off-again affair between the White House and the legislature has many in the credit union community confused as to what may happen, but no one is ready to count it out yet. With the congressional clock ticking-only until October 6 to push all the last minute bills through...

  • NAFCU comments on NCUA budget, Reg E

    ARLINGTON, Va. - NAFCU President Fred Becker believes that the credit union community needs to be included in NCUA budget talks earlier in the process than they presently are. Becker said that "NCUA has an unparalleled record for safety and soundness and is of tremendous value to the credit union...

  • Helping critically ill children fuels Aerospace Community CU donation drive

    ST.CHARLES, Mo.- The tiny hands and feet of a baby born five months premature may not get much coverage but after employees of one credit union toured the neonatal intensive unit at one local hospital, it was enough to fuel the staff's sympathy and anger into helping out. In a...

  • New privacy rules ignite credit reporting industry suit

    WASHINGTON - The credit reporting industry has tossed yet another piece of wood on the fire of criticism regarding the new privacy rules included in the Gramm-Leach-Bliley Act, by suing federal regulators, charging that the new rules are unconstitutional. Individual Reference Services Group, Inc., a Baltimore-based trade group representing credit...

  • Partnership alliances essential for credit unions' future

    MADISON, Wis. - "The world is changing forever," prophesized Kevin Lentz, vice president of MEMBER Marketing for CUNA Mutual Group, at the bi-annual Insurance Conference jointly sponsored by the Oregon Credit Union League Services, Inc. and CUNA Mutual Group. "Change, however, can offer a powerful advantage," he emphasized. "There has...

  • Privately-insured state-chartered CUs learn ABC's of FTC's privacy reg

    ARLINGTON, Va. - What's the difference between the FTC's and NCUA's privacy regulations? What's required to be considered in compliance with the FTC's regulations? What are the exceptions to the opt-out provision? What costs can be expected from mailing out disclosures to members? These are some of the questions state...

  • The "Dollar Divide"

    "Digital Divide" has been the phrase many use to describe the gap in Web usage among income groups. Media Metrix, one of the leading online tracking firms, recently released a report highlighting the divide, "The Dollar Divide: Web Usage Patterns By Household Income."

  • Recess appointment opportunity fades for Bacino

    ALEXANDRIA, Va. - With lawmakers returning to action on Sept. 6, Geoff Bacino, nominee to the NCUA Board, has seen one opportunity for a recess appointment slip away. Bacino, president of Bacino & Associates, a Washington area consulting firm declined to comment on his chances for appointment following the congressional...

  • CUNA Mutual Group acquires Connecticut Credit Union Association's insurance agency

    MADISON, Wis. - The CUNA Mutual Group has acquired the League Insurance Agency (LIA) from the Connecticut Credit Union Association in a strategic move representatives from both sides say will improve the array of insurance products and services available to credit unions in Connecticut. Included in the package, CUNA Mutual...

  • Not many veterans of online banking

    Online banking may seem ancient in Web years to those in the Web solution business, but it's still a very new technology in terms of consumer usage. Hers's a look at the typical consumer usage period of online banking.

  • MCIF CU market penetration

    Data, data, data. One-to-one marketing and cross-selling all rely on data to be successful. Marketing Customer Information File (MCIF) systems are a popular tool credit unions are using to get a better understanding of their members by evaluating their relationships and product usage. Here's a look at vendor MCIF marketshare...

  • No free clicks

    The majority of credit unions offering online banking are offering it for free. Surprisingly, studies show that consumers are willing to pay for online banking. Some credit unions are charging for online banking that features an online bill pay solution. Here's a look at what members and nonmembers are willing...

  • Interactive credit union sites on the rise

    Anyone around in the credit union industry six short years ago can remember a handful of credit unions launching "brochureware" Web sites. These sites were typically just a few pages of basic credit union information. Interactivity wasn't even on the radar screen back then. Today is much different with credit...

  • CU loan-to-share ratio nears record high

    WASHINGTON - Surging loan demand and lagging savings growth has pushed credit unions' loan-to-share ratio to its highest point in 20 years. According to CUNA's "Monthly Credit Union Estimates" released by CUNA on Sept. 6, the ratio of total loans-to-total savings at credit unions at the end of July was...

  • RENAISSANCE COMMISSION

    NONE

  • CUNA vehemently opposes CAP, still

    ALEXANDRIA, Va.-Even with the comment period closed for the community action plan (CAP), CUNA fired off a second comment letter to the members of the NCUA board once again expressing the organization's outright opposition to the proposal. During a meeting of the trade association's Governmental Affairs Committee August 30, the...

  • Growing online appetite

    A CUNA study released earlier this year found that a higher percentage of CU member households have access to PCs and go online compared to nonmembers. The study found that 74% of members have access to a PC, compared to 54% of nonmembers. It also found that 55% of members...

  • Central Florida Educators FCU marks "Back to School" with 2001 calendar

    ORLANDO, Fla. - Forget "Back to school", Central Florida Educators Federal Credit Union members say it's time to send out the desk calendar. The popular 18 inch by 21 inch Central Florida Educators FCU & Orange County Public Schools 2000-2001 desk calendar is once again available. "The desk calendar is...

  • Texas Credit Union Foundation's 1999 Annual Report builds on people

    DALLAS - More than just providing assistance during disasters and floods, the Texas Credit Union Foundation wants the public to know that it supports the credit union community as a whole. The Foundation's 1999 annual report reflects that support system one person at a time. "We wanted to spread the...

In Other News

  • Donations

    Citadel Federal Credit Union, Thorndale, Pa., has sponsored the Kennet YMCA's Splash Week. This is a free program to local children that provides swimming lessons and teaches safety procedures. Over 100 children signed up this year and many more participated as walk-ins. CFCU has $327.9 million in assets and serves...

  • Award

    Texas Credit Union League, Dallas, has announced that for the third year in a row, its Marketing Services Department was the biggest winner in the Pro and Blockbuster Awards. Presented at the American Association of CU Leagues (AACUL) Communication & Marketing Conference in Washington, D.C., the staff won 14 of...

  • Branching Out

    San Antonio Federal Credit Union, has broken ground on its new Bandera Road branch. The new branch will be located on Bandera Road at Mystic Parkway. This will be SACU's second location to provide remote teller systems stations for private and secure banking. The 5,124 square-foot facility is scheduled to...

News

  • Credit union's Seuss-like e-plan wins top honors at E-Vent

    AUSTIN, Texas - No green eggs and ham, just a solid "e-plan." Recently the Texas and Colorado Credit Union Leagues joined Extreme Arts and Sciences in co-sponsoring the "E-Vent", a conference dedicated to looking at where credit unions can go in the electronic world. At the E-Vent, United Heritage Credit...

  • Credit union striving for paperless office

    ABERDEEN PROVING GROUNDS, Maryland - Last spring Matcom Federal Credit Union hauled 14,000 pounds of paper to the base incinerator. "We said, `This is crazy,' " Tony McCollim, MFCU chief operating officer, recalls. "We have truckloads of paper coming in here on a regular basis." So the credit union has...

  • CU partners with the giants of IT to offer members low-cost computers

    RALEIGH, N.C. - Two years ago Maurice Smith, CEO of the $235 million Local Government Employees' FCU here, started knocking on the doors of leading IT companies to assist him in the mission of making computers affordable to his low- income members. Not all the doors opened, but enough did....

  • The power of data EBPP offers consumers

    PRINCETON, N. J. - Electronic Bill Presentment Payment firm Princeton eCom here gave Credit Union Times a first hand look at the control consumers can gain using EBPP. Paul Fitzgerald, East Coast telecommunications and cable account executive for Princeton eCom, provided a step-by-step online demo of EBPP through a mock...

  • EveryMile.com bringing its auto ownership peace of mind product to CU Web sites

    BOSTON - With $65 billion in auto repairs/maintenance in the U.S. each year, the market for mechanical breakdown coverage and auto warranties is definitely there. The question is are credit union Web sites the place members will look for these services? EveryMile.com, Boston, thinks credit unions' affinity relationship with their...

  • Wisconsin CU League blitzes state with radio campaign

    PEWAUKEE, Wis. - Residents of the state who turn on their radio to stations 66 AM and FM from Sept. 4-18 have a good chance of hearing the Wisconsin Credit Union league's "Credit Unions: It's Better Over Here" fall ad campaign. The campaign features two :30-second ads that highlight reasons...

  • Speed of wireless access impressive

    WEST PALM BEACH, Fla. - Credit Union Times' Associate Editor Paul Gentile is shown here going through a demo of the wireless application for USE CU, San Diego. USE CU was one of the earliest adopters of wireless. The credit union is using a connectivity solution by SensCom, San Diego....

  • MAKING A WORLDLY DIFFERENCE

    Desert Schools FCU demonstrates its community service mission, restores historic mural by local artist.........Page 44

  • Some light at the end of the EBPP tunnel

    PRINCETON, N.J. - Despite years of stumbling blocks, some new players and the emergence of a possible standard may transform electronic bill presentment and payment from a "would be nice" Web product, to a legitimate online credit union offering. The consumer demand for EBPP has been weak at best. A...

  • Tennessee, Idaho receive NASCUS re-accreditation

    ARLINGTON, Va. - The Credit Union Division of the Department of Financial Institutions of the State of Tennessee and the Department of Finance for State of Idaho have been re-accredited by NASCUS. Both states were first accredited by NASCUS in 1995. The re-accreditation status denotes that the NASCUS Accreditation Review...

  • CUShopper looks to assist credit-challenged make purchase

    GLENDALE, Calif. - CUShopper here is adding a subprime lending component to its popular member shopping solutions. CUShopper, an online and direct shopping provider to credit union members, has created iPal, a CU-backed secondary lending program geared at helping credit-challenged members obtain financing for CUShopper purchases. If a member is...

  • Data processors agree: small CUs need standards to add more products and services

    MADISON, Wis. - It's hard to believe that 15 credit union data processors would agree to agree on anything as a group, but they have, according to CUNA Mutual Group and the Center for Credit Union Innovation. A little publicized event, "Small Credit Union Data Processing Summit" held in mid-July...

  • Nine years after leaving United Employees CU, Artemenko leaves international tracks

    REED SPRINGS, Mo. - "Now we're getting to the interesting part," chides Gene Artemenko. Artemenko, 72, had been fielding questions about his 40-year career at United Airlines Employees CU. Now the conversation moved onto discussing his life since retirement, and, well, he had a point. "We've traveled to 75 countries...

  • California legislature passes credit union bill

    SACRAMENTO, Calif. - The state legislature Aug. 18 passed a bill sponsored by the California Credit Union League that expands, at the discretion of the commissioner of the Department of Financial Institutions, the type of funds that may be included in a credit union's equity capital. A.B. 2503 was introduced...

  • Payment Systems for Credit Unions partners with CheckFree for bill payment

    St. PETERSBURG, Fla. - Payment Systems for Credit Unions has announced an agreement with EBPP firm CheckFree. The agreement enables PSCU to offer electronic billing software with CheckFree's distribution and payment services to enable CUs to distribute bills for credit card and other loans to their members over the Internet....

  • VIFI enters wireless arena with some serious functionality

    INDIANAPOLIS - Access to static information via a wireless device is nice, but throw in the functionality of bill payment and account transfers and wireless becomes a legitimate delivery channel. A handful of credit unions jumped into wireless earlier this year, many offering access to static account and CU information...

  • Florida CUs step up political activity as Election 2000 nears

    TALLAHASSEE, Fla. - With Election Day two months away, the Florida Credit Union League began turning up its political activity last month with the advent of the first primary on Sept. 5. The Florida Credit Union League, through its Government Affairs Department sponsored several events at credit unions throughout the...

  • First Technology Credit Union stresses wireless security

    BEAVERTON, Ore. - First Tech Credit Union has been thinking for more than a year about bringing wireless banking to members. But until a few months ago, it seemed just too risky. There was considerable concern about security. Now, with the introduction of Wireless Transport Layer Security, First Tech is...

  • FundsXpress acquires brokerage firm; set to offer online brokerage on Portana

    AUSTIN, Texas - Credit union portal providers and Internet solutions firms are starting to emerge as the driving forces behind delivering online brokerage services to credit union members. At press time, Internet solutions provider FundsXpress announced the acquisition of a brokerage firm, with plans to offer brokerage services to credit...

  • ADDING UP MILES

    Gene Artemenko has been globe trotting with his wife since he retired from United Airlines Employees CU in 1991.....Page 34

News Briefs

  • California legislature approves CU bill

    SACRAMENTO, Calif. - The California legislature has passed a bill that implements a legislative framework for state-chartered and foreign credit unions to open branches in California. S.B. 1472, sponsored by the California Credit Union League and introduced by Deborah Ortiz (D-Sacramento) was passed by the state Assembly on Aug. 25....

  • Cooke new Credit Union Times' Washington reporter

    WEST PALM BEACH, Fla. - Sarah Snell Cooke has joined Credit Union Times as its new Washington reporter. Cooke comes to Credit Union Times with experience covering the Washington beat and a well-honed dialogue with credit union regulators and trade officials, as well as federal government representatives. Prior to coming...

  • NAFCU announces senior staff changes

    WASHINGTON - NAFCU has made two senior staff changes. Diane Swenson, who joined NAFCU last May as chief of staff and senior vice president, has been named executive vice president. Bill Donovan, a long-time NAFCU staffer with 20 years at the trade, has been named general counsel. Donovan will also...

  • Liberty finalizes FiTECH acquisition; unveils new name

    MOUNDS VIEW, Minn. - Liberty's acquisition of data processor FiTECH Systems, announced last month, has been finalized. Liberty, following Harland's acquisition of Concentrex, became the second check printing company to make a data processing acquisition last month. Liberty also announced that its new data processing division will be named Liberty...

  • MasterCard smart card to include digital ID

    PURCHASE, N.Y. - MasterCard International has announced that it will develop digital ID-based smart card applications for mobile and electronic commerce transactions. "Structured properly, multi-application cards give cardholders a secure, portable way of identifying themselves while also enabling them to initiate payment with their credit or debit cards, or take...

  • CUNA offers two new STAR tracks

    MADISON, Wis. - Two key training needs that credit unions continually identify are developing staff expertise and member service skills. To address those needs, CUNA's Staff Training and Recognition program has developed two tracks: Professional and Career Development and Member Services Level II. Geared to helping credit union staff develop...

  • Caja Popular Mexicana launches public confidence campaign

    MADISON, Wis. - In a comeback effort following recent failures of unsupervised cooperative financial institutions in Mexico, Caja Popular Mexicana (CPM), which is registered and regulated by the Mexican Banking Commission, has launched a public confidence campaign with US$10,000 from the Worldwide Foundation of World Council of Credit Unions (WOCCU)...

  • CUNA Renaissance Commission wants to hear from CUs

    WASHINGTON - CUNA's Renaissance Commission plans to hold its first public hearing during CUNA's Annual Symposium in Chicago Oct. 1-3, credit unions can begin contacting the commission now with their views of how to improve the value of federal and state credit union charters. CUs can contact the commission using...

Tech Bytes

  • uMember.com to acquire Personal Support Computers

    LOS ANGELES - uMember.com, Inc. has signed a letter of intent to acquire Personal Support Computers, a provider of computer and consumer electronic products and accessories. Two of PSC's principals are also investors in, and co-founders of, uMember. The acquisition, which is expected to close September 1, is valued at...

  • Maxxar's headquarters move

    DETROIT - The Maxxar Corporation, a provider of computer telephony integration (CTI) solutions, has moved its headquarters to a new 12,200 square-foot one-story space in Wixom, Mich. According to Maxxar, the new building will be equipped with advanced Internet and telephony technology to accommodate expanded Web operations and growth for...

  • Alaska USA gives members online access to card accounts

    ANCHORAGE, Ala. - The $1.5 billion Alaska USA FCU here now offers its members online access to its credit union credit card accounts. Access is available through the CU's secure electronic access program, UltraBranch. Using UltraBranch, members can obtain credit card account history; print transactions; check balances; and review payment...

  • MembersResources.com kicks off season with pool

    MILFORD, Conn. - In the spirit of the new NFL pro football season, credit union portal MembersResources.com has announced Football Picks 2000-2001, an online football pool where members can win Resource Dollars to put towards online shopping purchases made at the site. The objective of MembersResources Football Picks is to...

  • Summit releases graphic upgrade for Spectrum system

    CORVALLIS, Ore. - Credit union clients of Summit Information System's Spectrum product will have a new Windows-based graphic enhancement available this October. GUI (Graphic User Interface) Spectrum uses a Java PC application and Socket-Connect for Spectrum technology to receive data in from the host system and display data in a...

  • Greenlight.com aligns with Credit Online to expand financing options

    ANNAPOLIS JUNCTION - Credit Online, Inc., a subsidiary of Credit Management Solutions, Inc., has formed a partnership with Greenlight.com, an online car buying company, to offer online financing to more buyers at the Greenlight.com Web site. Greenlight.com will provide its customers the ability to obtain financing by using Credit Online...

  • CUNA's STAR and MERIT exams move online

    MADISON, Wis. - CUNA's Center for Professional Development is now offering its STAR program modules and MERIT exams online. CUNA's CPD has made online training a priority, introducing its Virtual Credit Union Campus early this year located at CUNA's site (www.cuna.org). The Virtual Credit Union Campus features online education and...

  • Symitar offering full service network management

    SAN DIEGO - Credit union data processor Symitar Systems, a Jack Henry & Associates subsidiary, said it is expanding its role from a traditional network integrator to a full service network management provider using Computer Associates' NetworkIT 2.0 product. Symitar will now offer tools for network management as a packaged...

  • First bond portal is up and running

    BOSTON - The Web is overflowing with stock and mutual fund news and information, but try to quickly find a 7.5% tax-free guaranteed return and you can be searching the Net for hours. A new portal was recently unveiled dedicated to answering questions like these. BondResources.com (www.bondresources.com), is dedicated to...

Letters to the editor

  • CUNA convention galas good idea

    I just finished reading Mike Welch's column from the August 16 issue of Credit Union Times regarding credit union involvement in the latest Republican and Democratic conventions. I want to commend Welch for both his observations and encouraging comments. As participants in in the Philadelphia gala, the New Jersey Credit...

  • Converting credit unions on the defense

    Turn on the bright lights and get out the rubber hoses. According to his recent column, Mike Welch wants to put CEOs from "long-time community CUs and recent converts" and "those credit unions recently granted enormous, overlapping fields of membership" on stage at national conferences and "Make them explain (emphasis...

Opinion

  • Data processing - the ASP vs. in-house decision

    The term "ASP" (application service provider) has become a hot technology topic among the credit union community lately. Discussions center around what function an ASP serves and how it differs from the more familiar term "online." These discussions are followed closely by the question, `is this solution right for my...

Publisher's Column

  • CUNA wants everyone to help seek a Renaissance

    Only three months after the CUNA board approved it, the Renaissance Commission is already up and running. Despite its fast start out of the box, only time will tell if it will win a gold medal for advancing the cause of credit unions. Most observers are optimistic and enthusiastic about...

Staking Out the Stats

  • Staking out the stats...

    Credit unions' vs. banks', S&L's rates Credit unions consistently charge lower interest rates on new auto and personal loans and credit cards than banks or S&Ls. Conversely, they offer higher interest rates on share draft and money market accounts and one-year CDs.

People

  • MIDWEST

    Royal Credit Union, Eau Claire, Wis., has appointed Stephanie Jann loan officer. Illinois Credit Union League, Naperville, has promoted Dan Santangelo to vice president of its education department. Three Rivers Federal Credit Union, Fort Wayne, Ind., has promoted the following employees: Michael Brooks to assistant branch sales manager of the...

  • EAST

    Affinity Federal Credit Union, Bedminster, N.J., CUSO Affinity Financial Services has appointed Jim West president of Affinity Vehicle Services. Navy Federal Credit Union, Vienna, Va., has named Cathryn Spetter Southern California regional marketing manager.

  • VENDORS

    Service Centers Corporation, a shared branch network, has elected the following officers to its board: Co-op Services Credit Union CEO Robert Huston, chairman; Michigan Educational Credit Union CEO William Brunton, vice chairman; Telcom Credit Union CEO Martin Smith, secretary; T & C Federal Credit Union CEO Dianne Addington, treasurer; SCC...

  • WEST

    Greater Nevada Credit Union, Carson City, has promoted Wallace G. Murray to president and CEO effective January 1, 2001. Cabrillo Credit Union, San Diego, has promoted Margaret Morales from vice president of operations to chief operations officer. John Deere Community Credit Union, Waterloo, Iowa, has promoted the following staff members:...

Events Calendar

  • 2000 ASSOCIATION CALENDAR MEETINGS & EVENTS

    SEPTEMBER SEPTEMBER 10-13 NAFCU's Congressional Caucus, Grand Hyatt, Washington, D.C. For info: Member Service Center, 800-344-5580. SEPTEMBER 10-14 CUNA & Affiliates Regulatory Compliance Update, Tradewinds Resort, 727-367-6461, St. Pete Beach, Fla. For info: Deb Verdecchia, 800-356-9655, ext. 4249. SEPTEMBER 10-15 CUNA & Affiliates Regulatory Compliance School, Tradewinds Resort, 727-367-6461, St....

  • 2000 VENDOR CALENDAR MEETINGS & EVENTS

    SEPTEMBER SEPTEMBER 10-11 Creditors Law Center's Mapother Basics of Bankruptcy School, Four Points Sheraton, Orlando, Fla. For info: Mary Kay McCubbin, 502-587-5452. SEPTEMBER 11-15 Lending Solutions' Rex Johnson's University of Lending, Crystal Lake Holiday Inn, Crystal Lake, Ill. For info: Marsha Wieder, 888-574-6572. SEPTEMBER 12-14 Creditors Law Center's Mapother Advanced...

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