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...

  • Bricks vs. Clicks: Varying schools of thought seen best with PSECU and State Employees' CU

    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....

  • Accent the positive, U.S. Sen. Stabenow urges CUs

    WASHINGTON, D.C. - Want to influence legislation in Congress? Accent the positive and work at home. "Focus on the positive, rather than the negative in terms of opponents. Having the opportunity to talk with legislators back home in their communities is very important so they understand the impact credit union...

  • Bryan elected board chair of CUNA Mutual Group, CUNA Mutual Life Insurance Company

    MADISON, Wis. - Not many people can say they are the chairman of a multibillion dollar company. Jim L. Bryan, president/CEO of Texans CU now can. Bryan was recently elected board chairman of CUNA Mutual Group and CUNA Mutual Life Insurance Company at the company's annual meeting. Bryan has been...

  • Credit union mergers cause decline in dues revenues for Texas League

    FARMERS BRANCH, Texas - A continuing trend of credit union mergers in this state has the Texas Credit Union League board of directors searching for ways to continue offering quality services to their member credit unions despite shrinking dues revenues. The basic problem is twofold: 1) The base of credit...

  • Credit union CEOs talk about their roles as sounding boards

    FT. LAUDERDALE - For some credit union CEOs, being called a mentor can be a double-edged sword for two reasons. One, it's not a title they would purposely bestow upon themselves. Second, one doesn't set out to become a mentor, and it's almost always a number of factors and "teachers"...

  • Chicago-land mortgage declines up? Not at credit unions

    NAPERVILLE, Ill. - A study by the Woodstock Institute of home mortgage denials drew headlines in Chicago when the research indicated lenders there rejected 24.6 of every 100 applicants in 1999. But the denial rate for credit unions is far different, according to information from the Illinois Credit Union League....

  • PayPal, FBI partnership against Internet crime

    PALO ALTO, Calif. - PayPal, an online payment provider, has teamed up with the Federal Bureau of Investigation to help build consumer trust in e-commerce. PayPal CEO/Chairman Peter Thiel joined a FBI press conference to highlight the FBI's Internet Fraud Complaint Center and discuss how PayPal works with the FBI...

  • One CU's answer to balancing employees' personal and work life: concierge service

    WASHINGTON - Credit unions have provided several unique employee benefits to boost the quality of their workplace environment. Justice FCU has tapped into one benefit that enhances a balance of work and home life for its employees. The $181 million credit union - the second largest in the District of...

  • `Keep It in Family' is CUSO real estate warning

    BEDMINSTER, N.J. - Credit unions are "giving away the business" and risk losing members when they link up with retail-oriented national mortgage firms to handle their real estate originations and servicing. The stern warning comes from a New Jersey executive who heads up a full service mortgage CUSO handling mortgages...

  • NCUA promotes four at May closed board meeting

    ALEXANDRIA, Va.- Four NCUA veterans were named to permanent positions with the agency during the May closed board meeting. Jane Walters was promoted to Region V director in Austin. She is responsible for coordinating the examination and supervision activities. Walters had been serving as acting director and prior to that...

  • NAFCU claims $31.7 million in underpayment by NCUSIF

    ALEXANDRIA, Va.-According to NAFCU calculations, the overhead transfer rate has been set lower than it should be. Late last year the NCUA Board decided to have an external review conducted of the overhead transfer rate, when the board approved the 66.72% rate as opposed to the historic 50%. Deloitte and...

  • Credit unions now playing in ultra-competitive financial services arena

    WEST PALM BEACH, Fla. - For Raleigh, North Carolina-based State Employees Credit Union President/CEO Jim Blaine the credit union competition is in a word "Everybody." "It seems lately everyone sees the financial services industry as easy to enter, easy to execute and easy to profit from," said Blaine. Almost anywhere...

  • Credit union VP's radio talk show reaches out to Hispanics

    EL PASO, Texas - It started as a conversation on Y2K, developed into a weekly Spanish talk show program and was a topic Government Employees CU of El Paso President Harriet May brought up in White House discussions last week. The weekly Wednesday morning talk show featured on Hispanic radio...

  • Seven credit unions align to form UniTrust Financial Services, offer investments, insurance

    ALEXANDRIA, Va. and WASHINGTON - Regardless of their net worth, members at seven credit unions here will have access to financial management services, thanks to a credit union service organization alliance. UniTrust Financial Services, a CUSO formed last October, will provide mutual funds, annuities, insurance, online portfolios and other brokerage...

  • Senator's party swap could affect bankruptcy reform

    WASHINGTON-Senator James Jeffords (R-Vt.) may not be a Republican much longer. According to a number of news reports, the moderate Jeffords is expected to jump the fence to the Democratic side or as an independent in the Democratic caucus. That move, which would effectively break the even split in the...

  • Retained servicing not just for large credit unions anymore

    WASHINGTON - 2001 may turn out to be a double-edge sword for credit unions. Lowered rates on mortgage loans and a drop-off in demand for consumer lending are expected to make 2001 a banner year for loan originations. That's the good news. But credit unions will also increasingly be faced...

  • Small CUs: Working with CUSOs a way to keep servicing, maintain members' loyalty

    WASHINGTON - 2001 may turn out to be a double-edge sword for credit unions. Lowered rates on mortgage loans and a drop-off in demand for consumer lending are expected to make 2001 a banner year for loan originations. That's the good news. But credit unions will also increasingly be faced...

  • Sponsor's new offices a plus for Georgia Telco CU

    ATLANTA - Many employees and members of Georgia Telco Credit Union will enjoy easier access to financial services and get a break from Atlanta's notorious traffic, thanks to building plans of a key sponsor. BellSouth has launched a comprehensive plan to consolidate 23 of the company's suburban and urban offices...

  • WesCorp's Living the Dream video documents credit union history, benefits of membership

    SAN DIMAS, Calif. - WesCorp feels so strongly that credit unions are helping members live their dreams, it produced a video as proof. Attendees of WesCorp's Annual Meeting, held in Pasadena, Calif. last week, received a sneak preview of WesCorp's just released 20-minute video on the history of the CU...

  • Stripping the "dull" from credit union annual reports

    WEST PALM BEACH, Fla. - Variety is the spice of this year's batch of credit union annual reports. Coming in all colors and sizes, from books to discs, the annual report has become more than just a boring recitation of facts and figures. Many seem designed to reach out and...

  • Ohio's new field-of-membership reg means new opportunities for Day-Air CU

    KETTERING, Ohio - The loss of its original sponsor, which precipitated a 4,000-member drop in membership over the past five years, has spurred Day-Air Credit Union to become the most recent credit union in the state to take advantage of Ohio's expanded field-of-membership regulations. Day-Air in late April won approval...

  • New but not green: NAFCU's director of political and legislative affairs

    ARLINGTON, Va.-Coming from smaller trade associations, NAFCU Director of Legislative and Political Affairs Charlie Frohman seems impressed with his new employer. Not only the size of the organization, but the quality of the people he works for and those working for him. Coming on board with NAFCU, Frohman said what's...

  • CU-supported interim rule on preapproved FOMs draws minor criticism from bankers

    ALEXANDRIA, Va.-The comment period on community charter field of membership modifications interim rule closed last week, pitting the usual rivals against each other. While credit union groups supported the idea of allowing an NCUA regional director to approve a field of membership (FOM) previously approved by the board as a...

  • CUSOs also facing July 1 deadline for complying with safeguarding member info requirement

    NEWPORT BEACH, Calif. - With a little more than four weeks remaining until the deadline for being in compliance with NCUA's requirements for safeguarding member information, credit unions are putting the final touches on their privacy policies and procedures. CUSOs should be doing the same, advises one CUSO expert. Even...

  • Emmer's chance encounter with CUs, ENT FCU's billion-dollar good fortune

    COLORADO SPRINGS, Colo. - Charles Emmer didn't always plan on a career in credit unions; it seems fate had a way of coaxing him there. He applied for a part-time job in college monitoring a security system, but was offered a post as an accounting clerk. He planned to become...

  • Gordon Hoerauf: CUs are a movement, not an industry

    EUGENE, Ore. - In one sense, Gordon Hoerauf was almost forced into the credit union movement. In 1968, 21-year-old Hoerauf went to work for a drug and variety chain. As he was signing a stack of paperwork he needed to complete to start his new job, he paused when he...

  • Johnson goes from halls of Montezuma to shores of corporate credit unions

    SAN DIMAS, Calif. - He doesn't consider himself a visionary. Nor does he think of himself as a philosopher. And the message he delivers to friends, family and co-workers is a simple one. "You don't have to be brilliant," says Richard Myles Johnson. "You just have to work hard." "Find...

  • Board Facts

    * The CMG/CUNA Mutual Life Insurance Company board has 15 directors. * Three directors are from outside the CU industry. * Two directors are volunteer board members at CUs. * CMG President/CEO Mike Kitchen serves on the board. * The rest of the board is made up primarily of credit...

  • Credit unions see windfall from Concord EFS going public

    MEMPHIS, Tenn. - Concord EFS, Inc., an EFT network, has gone public, offering 24,373,218 shares of the company's common stock. The shares include 19,194,103 held by the former owners of Star Systems, Inc., which was acquired by Concord on Feb. 1, 2001, plus an additional 2,000,000 being sold by Concord....

  • CFA Board gets ear of White House

    NONE

  • Selco's Gustoafson to lead CUNA Council Forum

    MADISON, Wis. - Gayle Rust Gustafson, vice president of Human Resources & Corporate Culture for Selco CU in Eugene, Ore. has been elected chair of the CUNA Council Forum. Gustafson was the founder and most recently served as chair of the CUNA HR Council, one of CUNA's six professional development...

  • New XML interface streamlines loan bookings

    INDIANAPOLIS - At press time, credit union data processor re:Member Data announced its XML (eXtensible Markup Language) interface with loan bookings. With the XML in loan processing, there's no need for manual entering of loan application data. Loans can now be booked in under one minute without the need to...

  • MoniTrust.com simplifies credit history for consumers

    FARMINGDALE, N.Y. - MoniTrust.com, an online credit report provider, is helping consumers get a complete picture of their credit history. MoniTrust.com has announced it is the first to deliver credit reports from the three major credit bureaus, - Trans Union, Experian and Equifax- to consumers in one easy to read,...

  • NCUA report packs a punch

    For a regulatory agency, the NCUA has put together an annual report that doesn't look stuffy or boring. Opening with its mission statement and photos of Acting Chairman Dennis Dollar, board members Yolanda Wheat and Geoff Bacino, the 60-page effort includes five-year benchmark statistics and detailed progress of the movement.

  • Presidential tax bill passes

    WASHINGTON-The president's tax package has finally passed the Senate, after many days of stalling by the Senate Democrats. Republican leaders, namely Senate Majority Leader Trent Lott (R-Miss.), had pushed to have the package passed in several late sessions last week with the idea of getting the tax cut package to...

  • VIFI expands online check availability

    INDIANAPOLIS - Internet solutions firm VIFI has expanded the availability of integrated online check images to members of WesCorp. Premier America Credit Union, Chatsworth, California, is the first to utilize the expanded document management service, which is integrated with VIFI's Internet banking solution. "As a user of VIFI's InternetBanker myself,...

  • NCUA addresses election disputes

    ALEXANDRIA, Va.-Jerry Spratt, supervisory committee chairman at Arkansas Federal Credit Union, wrote NCUA asking for assistance in an election dispute at the credit union. Unfortunately, NCUA does not involve itself in election disputes that do not fall under the Federal Credit Union Act (FCU Act), NCUA regulation, or safety and...

  • Past CMG/CMIC Chairs

    MADISON, Wis. - Here's a look at former chairs of CUNA Mutual Group and CUNA Mutual Life Insurance Company for the past 10 years. As the list shows, many are credit union president/CEOs. 2001-2002- James L. Bryan, President & CEO, Texans Credit Union, Richardson, Texas. 1999-2000 -Neil A. Springer, Managing...

  • Key provisions of new Ohio CU field-of-membership rules

    Amendments adopted to the field-of-membership rules affecting state-chartered credit unions in Ohio became effective Jan. 1, 2000. They included changes to Section 1301:9-2-16 O.A.C. - field of membership, and Section 1301.9-2-17 O.A.C. - application to expand field-of-membership. The rules apply to state-chartered credit unions that are federally insured or privately...

  • Tax preparation

    NONE

  • CUNA's E-scan is 20

    MADISON, Wis - The 2001-2002 edition of CUNA's Credit Union Environmental Scan will be released in late June, marking its 20th edition. CUNA now offers the E-Scan in three formats: report, PowerPoint presentation and video. Typically loaded with statistics, E-Scan addresses the following topics: Demographics & Consumer Behavior, Economics &...

  • Alaska USA FCU reaches out to underserved

    ANCHORAGE, Alaska - The underserved in the Fairbanks North Star Borough, Kenai Peninsula Borough and Matanuska-Susitna Borough have reason to be happy-there's a credit union coming to town. Alaska USA Federal Credit Union can now serve anyone living or working in those areas. This expansion into underserved areas is mutually...

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

  • Retail marketing principles should not be the basis for credit union Web site design

    I think it's time to start questioning some of the strategies touted for credit union Web site design. Most of them are based upon principles and practices borrowed from the world of retail marketing. They suggest (these should sound familiar to you) that you should try to keep people in...

  • Current issues in regulatory compliance

    Credit unions are currently grappling with at least three main regulatory compliance issues. First, NCUA's new rule on safeguarding member information. Second, NCUA's new Privacy requirements. Third, member communication. This article identifies specific troubling aspects of each issue and how to address them. Safeguarding Member Information Credit unions must comply...

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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