Credit Union Times Magazine May-30, 2001

News

  • Bricks vs. Clicks: A bricks and clicks model may be the survivor

    COLUMBIA, S. C. - Don't bother looking for Greg Smith at ribbon-cuttings for new branches at the Pennsylvania State Employees Credit Union. But then again, don't look for Jim Blaine to shunt heat-seeking members to virtual tellers on PC monitors in futuristic lobbies at State Employees' Credit Union, Raleigh, N.C....

  • Colorado reg board takes up out-of-state CU FOM expansion rules

    DENVER - The state Financial Services Board began discussions earlier this month to set field-of-membership expansion rules for out-of-state state-chartered credit unions credit unions that operate branch offices in Colorado. In 1998, the FSB adopted a written policy which addresses how out-of-state SCCUs that operate branches in Colorado should be...

  • Share protection proposed for the UK for the first time

    LONDON, UK - United Kingdom credit unions are now receiving the Financial Services Authority's paper 94 on a new share protection scheme. The protection of members shares should a credit union fail is something the credit union movement and especially the Association of British Credit Unions, Ltd. (ABCUL) has been...

  • Nora Herlihy Memorial Centre, a tribute to a great Irish woman

    BALLYDESMOND, Ireland - "It's a memorial long overdue," John O'Neill said in a telephone interview with Credit Union Times about the new Nora Herlihy Memorial Centre which occupies 800 square feet of a white stucco building in Ballydesmond. The centre dedicated to Nora Herlihy, the founder of the Irish credit...

  • VIFI expands connectivity with new wireless platform

    INDIANAPOLIS - The last place there should be limits is with wireless banking, says Internet solutions firm VIFI here. The whole premise of wireless banking is to empower consumers by cutting the wires to account access. That's the philosophy behind VIFI's new wireless platform. The platform now allows VIFI's CU...

  • CUTAC up and running

    MADISON, Wis. - Nine months after it was announced and after weeks of beta testing, the Credit Union Technology Advisory Center (www.cutac.com) is about to be marketed to the industry. CUTAC will offer - in a variety of packages - strategic research, advisory and consulting services focusing on financial technologies...

  • i CU Now helping credit unions stay competitive

    DALLAS - Maybe it started with servers skating up to car windows to take meal orders. Businesses are always searching for ways to expand their services to compete and please customers. Unfortunately, the price of pleasing a customer is no longer the cost of a pair of skates. Online and...

  • NCBA gets ICANN to agree to let it act as sponsor for .coop; now seeking credit union partner

    WASHINGTON - Talk about an opportunity. The National Cooperative Business Association is looking for a credit union organization to become the re-seller of Web addresses with the .coop Top Level Domain and other Web-related services. The NCBA is in a very unique situation with the Internet Corporation for Assigned Names...

  • Irish Credit Union founder honored

    Ballydesmond, Ireland - Ireland is the European Union's financial success story. But there's another success story that seldom makes headlines, the success of credit unions in Ireland. Not everyone knows that the driving force behind the movement was a woman, Nora Herlihy. However, Rathmore & District Credit Union, located in...

  • FiTECH's first users conference as Liberty FiTECH

    ATLANTA -It was the 17th FiTECH users' conference, but just the first for the company as a subsidiary of Liberty. About 150 people attended Liberty FiTECH Systems Customer Conference "Reinventing the Future." Michael Neill of Michael Neill & Associates, a past vice president of Southern FCU gave the key note...

  • Louisiana league calls disposable earnings bill bad for the poor

    HARAHAN, La. - The Louisiana Credit Union League is urging credit unions to call members of the state House Civil Law & Procedures Committee and ask them to vote against a bill that would increase the minimum amount of disposable earnings exempted from seizure from 30 times to 60 times...

  • Bradford-Scott Data Corp. partners with NetUPDATE

    INDIANAPOLIS and Redmond, Wash. - Bradford-Scott Data Corporation (BSDC), a provider of DP services to credit unions, and NetUPDATE, Inc., a software provider to financials, have formed a strategic alliance. Bradford-Scott distributes the Sharetec system from Sharetec Systems, Inc. There are currently more than 225 credit unions using the Sharetec...

  • Early bird registration deadline extended for WOCCU Paris conference

    MADISON, Wis. - The World Council of Credit Unions has extended the early bird registration deadline for its upcoming International Credit Union Leadership Conference to July 1. The three-day conference will be held Aug. 19-22 in Paris, the "City of Lights." The event, WOCCU's 5th Leadership Institute, is designed to...

  • Ohio Credit Union League, WOCCU sign agreement

    MADISON, Wis. - The Ohio Credit Union League, WOCCU (World Council of Credit Unions)-Bulgaria, and WOCCU signed a partnership agreement at the Ohio Credit Union System's recent annual meeting and conference. The partnership will support several efforts including advocating for credit unions before elected officials in Ohio and Bulgaria; promoting...

  • Guatemalan CUs to lobby for CU legislation

    MADISON, Wis. - Guatemalan credit union representatives were recently in Washington, D.C. to attend lobbying and grassroots workshops hosted by CUNA and the World Council of Credit Unions as part of WOCCU's People-to-People program, and to visit with members of Congress to gain recognition (CU Times, May 23.) Now Federacion...

  • Nevada CU bill gives commissioner "wildcard" authority

    CARSON CITY, Nev. - The state Assembly Commerce and Labor Committee unanimously passed a bill supported by the Nevada Credit Union League that gives the commissioner of the Nevada Financial Institutions Division "wildcard" authority to grant state-chartered credit unions parity with federal credit unions. An amendment in S.B. 330, sponsored...

  • SPECIAL REPORT: DATA PROCESSING & TECHNOLOGY

    Some in the credit union industry believe you can't beat branches for serving members, others stake their claim on the Internet. See how they defend their positions in our Bricks vs. Clicks lead story in the Data Processing Special Report starting on Page 1 and continuing on pages 14-24. Other...

  • New Zealand Credit Unions granted an extension for new trustee system

    AUKLAND, New Zealand - Although most New Zealand credit unions qualified for the new Trust Deed License System, there were still enough that had not completed the process that a six month extension requested by the New Zealand Association of Credit Unions (NZACU) was granted. The deadline has been moved...

  • The Golden 1 CU signs with First Data

    OMAHA, Neb. - First Data Resources, has signed a five-year agreement to process Visa cards for the $3.2 billion The Golden 1 Credit Union, Sacramento, Calif. First Data will provide card portfolio management tools, including plastics, statements and risk management services. First Data processes for 311 million plastic card accounts...

  • Digital Insight and Yodlee in deal

    CALABASAS, Calif. and REDWOOD SHORES, Calif. - The powerhouse in Internet banking meets the powerhouse in account aggregation. Internet banking firm Digital Insight, which serves 1,300 financials (half of which are credit unions), has partnered with leading account aggregation firm Yodlee. The deal means a private-labeled aggregation solution for Digital...

  • Beware of .coop scam artists

    WASHINGTON - With a shortage of available .com and .org TLDs, consumers and businesses have been chomping at the bit to register for the seven new TLDs. Some scam artists are taking advantage of this eagerness. The Federal Trade Commission issued an alert for consumers not to be misled by...

  • Bill amending Oregon CU Act moves closer to governor's desk

    SALEM, Ore. - Intense negotiations with the Oregon Bankers Association over provisions in a credit union measure and an 11th hour proposal by the OBA to make minor changes to the bill, paid for the the Credit Union Association of Oregon last week. House Bill 2775, a technical corrections bill...

  • California Assembly approves CU government deposits bill

    SACRAMENTO, Calif. - The California Assembly unanimously passed legislation that would give state and local governmental agencies that are already able to deposit funds in banks and savings and loans, the option of depositing funds in credit unions. A.B. 743, authored by state Assemblyman Robert Pacheco (R-City of Industry), is...

Publisher's Column

  • Account aggregation not just a buzz word

    The whole financial world seems to be rushing to get on the account aggregation bandwagon. The majority of credit unions, however, aren't so sure it's not just another passing fancy. At least that's the conclusion that could easily be drawn from recent survey data and news announcements. It is also...

Events Calendar

  • 2001 ASSOCIATION MEETINGS & EVENTS CALENDAR

    JUNE JUNE 1-4 World Council of Credit Unions International Credit Union Conference & Annual General Meeting, Great Southern Hotel, Killarney, Ireland. For info: 608-231-7130. JUNE 6 NAFCU's Audioconference, call in from your credit union. For info: Member Services, 800-344-5580. JUNE 7-9 New Mexico CU League's Annual Convention, Crowne Plaza Pyramid,...

  • 2001 VENDOR MEETINGS & EVENTS CALENDAR

    JUNE JUNE 3-5 Morgan Keegan CU Investment Group's High Performance Financial Institution Seminar, Hilton Sandestin Beach & Golf Resort, 850-267-9500, Sandestin, Fla. For info: Johnny Wyse, 800-347-7643. JUNE 3-6 re:Member Data Services Strategic Partner Conference, Amelia Island Plantation, 800-874-6878, Amelia Island, Fla. For info: Kristi Lowell, 800-888-2112, ext. 1345. JUNE...

Letters to the editor

  • Credit Union House (of ill-repute)

    Although I agree with him on many topics, "Speaker of the House" Mike Welch's gushing platitudes about the Washington, D.C. Credit Union House (CU Times, May 2) is a chilling indication of just how far we have drifted from our members. Just whose money is being used by CUNA and...

  • Well-earned recognition

    I just wanted to thank you for your recent article on President Randy Smith of Randolph-Brooks FCU in San Antonio (CU Times, April 11). As a member of RBFCU since 1994 and an employee of the credit union for nearly six years, I have to admit it is a nice...

  • The "right" side of indirect lending

    I'm writing in response to Susan Lynch's letter in the April 18 issue of Credit Union Times titled "The other side of indirect lending." I am the Director of Lending for Credit Union Acceptance Corp (CUAC). CUAC is a credit union-owned CUSO that provides indirect lending services for 11 credit...

  • Well-done article

    I want to thank Elaine Kingoff, editor-in-chief,for the article she wrote, "Changing financial services environment, members' needs push new CUSO biz model" (CU Times, May 9) related to all the different options credit unions face in establishing a CUSO. Almost all of the credit unions I partner with are in...

  • Good job covering CUSOs

    I wanted to take this opportunity to thank and compliment Credit Union Times' Editor-in-Chief Elaine Kingoff on the outstanding CUSO coverage she did in the May 9th issue. During our conversations preparing the opinion article, Kingoff and I covered a lot of territory regarding the future of credit unions and...

News Briefs

  • Member CUs receive rebates from Missouri CU System

    ST. LOUIS - Missouri credit unions that are members of the Missouri Credit Union System will be receiving a total of $105,000 in patronage rebates for their support of fee-supported products and services in 2000. MCUS President/CEO Rosie Holub made the announcement in her report to the membership during the...

  • Muckian no longer with CUNA

    MADISON, Wis. - CUNA confirmed that Mike Muckian, formerly Director of CUNA Councils, is no longer with the organization. Muckian has been with CUNA for the last eight years, doing a lot of work with CUNA's various councils. CUNA would not elaborate on the details of Muckian's departure. "Out of...

  • CUNA representative helps with truncation legislation

    WASHINGTON-CUNA Assistant General Counsel Michelle Profit was invited by the Federal Reserve Board to provide credit union input on check truncation in preparation for legislation the Fed hopes to have introduced. Profit was the only credit union representative. According to Profit, credit unions already use check truncation systems, but some...

  • CU reps meet with Lindsey on savings, education

    WASHINGTON-Credit union representatives met with Larry Lindsey, President George W. Bush's assistant for economic policy, to discuss savings and education during a meeting arranged by the Consumer Federation of America (CFA). Both CUNA President and CEO Dan Mica and NAFCU President and CEO Fred Becker are on the CFA board....

  • WOCCU's 2001 International Conference convenes in Ireland

    KILLARNEY, Ireland - The World Council of Credit Unions is returning to the land of shamrocks and fairies for its 2001 International Conference & Annual General Meeting. About 670 international credit union delegates are expected to attend this year's conference June 1-4. WOCCU Spokesperson Kim Johnson said registration for the...

  • Mid-States tops in savings bonds

    NAPERVILLE, Ill. - Mid-States Corporate Federal Credit Union ranked first in the country last year in the CU industry for issuance of U.S Savings-Bonds, according to the Department of the Treasury. Below are the top issuers: *Mid-States Corporate FCU

  • Navy FCU lands on "top reputations" list

    VIENNA, Va. - Navy FCU found itself on a distinguished list with a bunch of large banks and financial services companies. The credit union was ranked No. 4 in a Top 40 list of financial companies that have top reputations. "The 40 most reputable financial services companies in America," done...

Tech Bytes

  • Synergent chooses Digital Dialogue

    TAYLOR, Mich. - Digital Dialogue, an Internet-based multi-channel call center has entered a strategic marketing agreement with Synergent Corp., a subsidiary of the Maine Credit Union League, Westbrook, Maine. "Digital Dialogue allows us to outsource the entire lending process, up to the signature required on paper, with approvals arriving in...

  • United Teletech introduces Loan@Home

    TINTON FALLS, N.J. - The $211 million United Teletech FCU here has introduced Loan@Home, an online auto, personal, and credit card loan access system. Members can now apply for loans online and receive instant loan approval; review payment options; and review loan status. "Our membership is technically savvy, comprised of...

  • CGI finalizes acquisition of CyberBranch

    MONTREAL - CGI, the largest independent IT consulting firm in Canada, has finalized its acquisition of CyberBranch, Palo Alto, Calif. CyberBranch is a wholly-owned subsidiary of Stanford FCU. It provides a variety of online services to CUs, including a portal, home banking piece, e-statements, and an online loan decision engine....

  • CU Village.com adds Self Management Group

    NORTHVILLE TOWNSHIP, Mich. - CU Village.com has added the services of Self Management Group, a career management and predictive profiling provider, to the B2B dimension of the CU Village.com portal. The partnership will allow CU Village.com to offer Sales Pro, an employee placement tool that helps sales organizations select "high...

  • CRI revamps Web site

    ATLANTA -Creditor Resources, Inc., a marketer of insurance and technology products targeting credit unions, has launched a new version of its Web site. The new site (www.creditorresources.com) was designed to be more user friendly and informative, according to CRI. It includes a detailed background of the company, and a timeline...

  • SensCom signs CU of Texas

    SAN DIEGO - SensCom, a wireless application service provider serving the financial services industry, has entered into an agreement with the Credit Union of Texas to provide technology that will enable members to perform wireless transactions over the Internet. SensCom has wireless-enabled a number of CUs, including USE CU, San...

People

  • VENDORS

    Creditor Resources, Inc., a marketer of insurance products and technology, has appointed Wes Barlow executive vice president of operations. Allied Solutions, an insurance and financial services provider, has appointed the following employees: Mark Ziegler, senior vice president of operations/product development; Brian Urbanski, senior vice president of finance; Cindy Bryant, senior...

  • WEST

    Motorola Employee's Credit Union-West, Scottsdale, Ariz., has appointed the following officers to its board: Thomas E. Cummiskey, chairman; William M. Fulton, vice chairman; Rich Hill, secretary; and Mary Walsh, treasurer. In addition MECU-West has named Ken Bandelin, director; Dave Holody, director; Jeff Homer, director; and Casilda C. Llewellyn, director. Travis...

  • SOUTH

    SAFE Federal Credit Union, Sumter, S.C., Vice President of Marketing Joye Cox has been elected to the executive committee of the CUNA Marketing Council as chair of the Council's Web site. In addition, SFCU has appointed Beverly Ward Gagne president/CEO to succeed Helen A. Smith, who is retiring June 1...

  • SOUTHWEST

    United Heritage Credit Union, Austin, Texas, has appointed the following officers to its board: May Lofgreen, chairperson; Dale Lyon, vice chairperson; James North, secretary/treasurer; John Keller, director; Harold Keys, director; Bill Carrington, director; and Ralph Wilburn, director.

  • EAST

    New Jersey Department of Transportation Credit Union, Ewing, has promoted Edward J. Haubert to senior vice president of operations; Valerie Mezker to vice president of marketing and business development; and Soma Sarkar to vice president of branch operations. New Jersey Credit Union League, Hightstown, has appointed Robert S. Vaccaro to...

Opinion

In Other News

  • DONATIONS

    South Western Federal Credit Union, La Habra, Calif., has donated $1,545 and over 100 new books for the children's section of the Whittier Public Library. To celebrate the grand opening of its new office in Whittier, the credit union donated a book for each Whittier resident who joined and opened...

  • AWARDS

    City Employees Credit Union, Dallas, has announced that 11 employees have received their CCUE designations. CCUE designations are available through CUNA's Certified Executive Program. The CCUE is the hallmark of professional credit union achievement. The program is designed for managers and those aspiring to credit union leadership, and teaches advanced...

  • MILESTONES

    New Hampshire Federal Credit Union, Concord, has reached a new milestone - $102 million in assets. According to NHFCU President/CEO John R. Young, he was particularly proud of this feat being accomplished by the end of the first quarter in 2001. NHFCU serves more than 24,000 members. First Community Credit...

Looking Back

  • CREDIT UNION TIMES Vol. 8, No. 22 May 28, 1997

    Looking back four years ago finds Congressman Paul Kanjorski (D-Pa.) and CUNA President Dan Mica expressing concern over single-sponsored credit unions failing to realize that "the bankers aren't simply looking at large credit unions. They want to eliminate credit unions entirely." The two were responding to letters from some single-sponsored...

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