Credit Union Times Magazine September-05, 2001

  • Colorado credit unions win trust charter

    DENVER - Using the cooperative approach, Colorado credit unions are moving swiftly to expand their reach into personal trust services by opening a new CUSO-chartered trust company, Members Trust Co. of Denver, slated to open offices by the latter part of October or in November. A major roadblock to chartering...

  • Credit union goes to lengths to help members and itself in a particularly needy time

    ALEXANDRIA, Va.-Rather than wait for Congress to decide bankruptcy abuse reform measures that have been debated for four congressional sessions now, credit unions are doing what they can to help members avoid bankruptcy and help themselves at the same time. A recent report (See story page 3) indicated that bankruptcy...

  • CUs still beat banks in fees, but banks may have some "relationship" advantages

    LAKE BLUFF, Ill. - If the Federal Reserve's annual bank fee study had included credit unions this year, credit unions would have blown the banks away. According to the most recent data from Moebs $ervices, Lake Bluff, Ill., the median fees at CUs are much more consumer-friendly than the median...

  • Don't strengthen federal CU system at the expense of state system: NASCUS

    ARLINGTON, Va. - CUNA and the credit union movement must make a simultaneous major investment in updating state credit union laws and regulations, as it does for federal credit unions, advises NASCUS. Otherwise state credit union regulators and state-chartered credit unions risk being left with outdated powers and lessened opportunities....

  • CMN's Mick Karls passes baton, relocates to Montana for full-time parenting

    HELENA, Mont. - Mick Karls would be hard pressed to think back on a time in his professional career that he wasn't involved with the Children's Miracle Network. Even before he officially joined CMN in 1995, Karls was actively involved with the Oregon League of Credit Union's CMN steering committee....

  • Birdwell's competitive impact quickly felt at the new look Southeast Corporate FCU

    TALLAHASSEE, Fla. - Bill Birdwell hasn't exactly eased his way into the CEO position at Southeast Corporate FCU. Instead he's thundered in with his competitive guns blazing. Change has come swiftly at the $2.8 billion Southeast Corporate FCU under the guidance of Birdwell, who assumed the CEO position in June....

  • PSECU implements e-signature authorization

    HARRISBURG, Pa. - The $1.6 billion Pennsylvania State Employees Credit Union is taking the paper out of its online home banking sign-up process through the use of e-signature authorization. Prior to this, PSECU members could fill out an application online, but they would later have to sign a paper document....

  • Bethex FCU's newest branch another outlet to reach `unbanked'

    BRONX, N.Y. - Hoping to appeal to more residents here who don't have a relationship with a financial institution, amid fanfare and high hopes, Bethex Federal Credit Union opened a second branch to meet their needs. More than 100 people including Bethex members, local officials and credit union industry representatives...

  • Credit union people: Beyond the job

    It can be hard to say good-bye. CUNA Mutual Senior Vice President of Communications and Public Relations Larry Blanchard threw together a surprise retirement party for departing NCUA Director of Public and Congressional Affairs (PACA) Bob Loftus. Invitees included many of Loftus' former co-workers including Blanchard, NAFCU Communications Manager John...

  • Wright-Patt Credit Union's new FOM could attract 400,000 potential members

    FAIRBORN, Ohio - Wright-Patt Credit Union, Inc. is among the latest credit unions in Ohio to take advantage of new rules that allow charters to serve both select employee groups and "well-defined" communities. The largest credit union in the state, WPCU recently received approval from the Ohio Department of Financial...

  • Umbel works way up agency ladder

    ALEXANDRIA, Va.-After graduating high school, NCUA Information Specialist Cherie Umbel got married and had children, as many women of her generation did. When the marriage did not last, Umbel was forced to enter the full-time working world as a single mother with just a high school diploma. Fortunately, in September...

  • Renaissance also discussed by Coordinating Council

    WASHINGTON-NAFCU reiterated a few areas of concern regarding the Renaissance Commission recommendations during the most recent meeting of the National Credit Union Legislative and Regulatory Coordinating Council last week. The Coordinating Council was conceived during the H.R. 1151 battle and was scheduled to meet quarterly, but the frequency of meetings...

  • Record breaking bankruptcy filings last quarter

    ALEXANDRIA, Va.- Last quarter, April 1 through June 30, bankruptcy filings rose 24.5% over the same period last year, making it the highest quarterly period ever for bankruptcies, according to data by the Administrative Office of the U.S. Courts. Filings increased from 321,729 in the second quarter of 2000 to...

  • Members spending, not saving, tax rebates

    WEST PALM BEACH, Fla. - Politicians who backed the idea of a federal income tax rebate argued people would spend the money and help boost the economy. Others have encouraged people to save the money or at least pay down their debts. Based on random calls by Credit Union Times...

  • Judge who ruled for credit unions FOM expansion to determine Microsoft's fate

    WASHINGTON - She's been labeled a "meticulous jurist," and "even-tempered," and her experience has been called into question by some experts on antitrust law. But U.S. District Judge Colleen Kollar-Kotelly made a name for herself last year in credit union circles when she ruled overwhelmingly in their favor allowing them...

  • Movin' on up: Karls steps in to Montana Credit Union Network president's shoes

    HELENA, Mont. - Tracie Karls doesn't know where the time has gone. Up until six years ago she was living in Oregon and working at various credit unions in the state. For the past six years Karls has been at the Utah League of Credit Unions, working her way up...

  • New Mexico, Colorado leagues mull linkup to start shared branches

    ALBUQUERQUE, N.M. - Shared branching may at last be grabbing a toehold in New Mexico with plans under study to set up the state's first facilities "in three to four months." That was the word of the New Mexico Credit Union League which is considering signing up with a service...

  • NAFCU's reg relief wish list vastly different to CUNA's

    WASHINGTON - NAFCU has made its regulatory relief wish list known, and it's nothing like CUNA's. In a letter to Acting NCUA Chairman Dennis Dollar, NAFCU President and CEO Fred Becker provided the regulator with a list of reforms the trade association would like to propose for a regulatory relief...

  • Congress likely to split difference on CDFI:NAFCU lobbyists

    ARLINGTON, Va.-With several reports of a shrinking budget surplus, credit union and other community development financial institutions may have to settle for a compromise between the Senate and House VA-HUD appropriations bill allotment for the Community Development Financial Institutions (CDFI) fund. According to NAFCU Director of Legislative Affairs Charlie Frohman,...

  • Megabank trust departure provides CU `opportunity'

    COLORADO SPRINGS, Colo. - Big banks are operating their personal trust business "on remote control," and so Colorado credit unions stand a good chance of carving out new business, according to a Colorado Springs CU executive drawing on experience as a bank president. Charles Emmer, president of the $1.3 billion...

  • Consumer lending largely unchanged in slow economy

    WASHINGTON-According to the Senior Loan Officers Opinion Survey on Bank Lending Practices, domestic banks' credit standards remain largely unchanged for residential mortgage loans over the past three months. Approximately 25% of the respondents, on net, reported an increase in demand for residential mortgages in the same period. The survey included...

  • Cockburn leaving Hudson Valley FCU for Seattle Telco

    POUGHKEEPSIE, N.Y. - Hudson Valley Federal Credit Union President/CEO Chuck Cockburn has submitted his resignation effective September 7th. Under Cockburn's leadership for the past six years, the credit union has grown to $1.3 billion in assets. In addition, Cockburn was instrumental in increasing HVFCU's community involvement. Cockburn has accepted a...

  • uMonitor in deal with Internet giant

    GERMANTOWN, Tenn. - Account aggregation firm uMonitor, which is trying to increase its presence in the CU industry through strategic partnerships with established CU vendors, has signed an agreement with Terra Lycos, a leading global Internet network firm. Just two weeks ago uMonitor announced a strategic partnership with CU Internet...

In Other News

  • SCHOLARSHIPS

    Robins Federal Credit Union, Warner Robins, Ga., has awarded scholarships totaling $20,000 to five graduating high school seniors. Each year RFCU selects the Most Excellent Senior Team which consists of the five best students based on academic performance, community involvement and extracurricular activities. Team members are each awarded a four-year,...

  • MILESTONES

    AEDC Credit Union, Tullahoma, Tenn., has celebrated 50 years of service in Middle Tennessee. Founded by eight Arnold Engineering Development Center employees in 1951, what started as a one-room operation has grown to become one of the largest federally chartered credit unions. AEDC CU has $747 million in assets and...

  • AWARDS

    EECU, Fort Worth, Texas, Branch Manager Nora Gonzales has been honored at the YWCA Fifth Annual Tribute to Women in Business. This event recognizes the outstanding accomplishments and significant contributions of 50 professional women. Gonzales was presented the YWCA Women in Business Award for her dedication to members. EECU has...

News

  • Allied Solutions going strong after merger

    DALLAS and CARMEL, Ind. - When leaders of FLS Services and Eldredge Corporations announced the companies were merging to form Allied Solutions early this year, they billed the deal as a way to gain economies of scale to compete with insurance powerhouse CUNA Mutual. So far, according to Allied Solutions...

  • Flood insurance not just for high risk flood areas

    WEST PALM BEACH, Fla. - Around this time of year, discussion of the weather becomes a serious topic in certain areas of the country, but experts say everyone should be paying attention. Colorado State hurricane forecasters have predicted a slightly above-average hurricane season for this year with 12 named storms,...

  • SPECIAL REPORT: Insurance

    It's hurricane season, does your credit union need to worry? The answer may surprise you. Read about this and other insurance issues in the special report on pages 14-15.

  • CUs dropping the ball on auto insurance?

    WEST PALM BEACH, Fla. - When it comes to auto insurance, credit unions may be missing a golden opportunity to help members, according to NACUSO President Bob Dorsa. "Credit unions live and die by car loans, so if the bulk of members are already doing business with credit unions then...

  • World Council of Credit Unions' fifth International Credit Union Leadership Institute

    More than 400 delegates from 28 countries traveled to Paris last month for the World Council of Credit Unions' fifth International Credit Union Leadership Institute. Credit Union Times Overseas Correspondent Donna-Lane Nelson traveled to the City of Lights to cover the conference. For those credit unions who were unable to...

  • Will California be second state to bar predatory lending?

    SACRAMENTO, Calif. - Whether or not California will become the second state to bar predatory lending will depend on how the state Senate Banking Committee votes on a measure authored by Assembly Member Carole Migden (D-13). A.B. 489 would ban a set of the most egregious predatory lending practices for...

  • NASCUS to host quarterly meeting of national state associations

    ARLINGTON, Va. - For the first time, NASCUS will host the upcoming quarterly meeting of prominent national state associations to discuss critical current state-related issues. Representatives from the National Governors Association, Conference of State Bank Supervisors, National Conference of State Legislators, National Association of Attorneys General, National Association of Insurance...

  • Pennsylvania league to U.S. senators: Urge Dollar's appointment to NCUA Chairman of the Board

    HARRISBURG, Pa. - In a show of support of having the word "acting" removed from Dennis Dollar's title with the NCUA Board, the Pennsylvania Credit Union League has sent letters to its two U.S. senators - Arlen Specter (R) and Rick Santorum (R) - urging Dollar's appointment to chairman of...

  • Texas Deputy Commissioner Poole leaves division

    AUSTIN, Texas - After five years of working with the Texas Credit Union Division, Linette Poole, deputy commissioner has left to pursue an advanced degree in accounting. Poole's official last day was Aug. 31. Commissioner Harold Feeney said there are now 26 people working in his office, including 18 examiners....

News Briefs

  • CU Protection Response Center now open

    MADISON, Wis. - CUNA Mutual Group has grouped together experts focused on protection needs to answer questions in its Credit Union Protection Response Center. Responsible for different geographic regions, the 20 trained specialists in the areas of risk management, claims and underwriting are expected to handle between 70-80% of initial...

  • CNBS hits revenue record

    OVERLAND PARK, Kan. - Though it isn't releasing figures for competitive reasons, Corporate Network Brokerage Services, Inc. said that its year-to-date transaction revenue has exceeded its highest annual total in CNBS' 12-year existence. "To reach a record level of revenue is always an accomplishment. To do it less than two-thirds...

  • Oregon CUs shatter CULAC record

    BEAVERTON, Ore. - Credit unions in Oregon always designate July as "CULAC Month" and use the event to focus on raising money to benefit the federal political action committee. This past July, CUs in the state surpassed their own expectations. Donations to CULAC topped $15,000 in July. Total donations were...

  • Sarasota Coastal CU uses "Survivor" instinct in new commercial

    SARASOTA, Fla. - When Sarasota Coastal Credit Union decided to promote a new image it looked to "Survivor" for more than inspiration. The crew from the popular reality television series worked with Indianapolis-based advertising agency Englehart Dicken to film the credit union's new television commercial. "Anytime you work with guys...

  • ABA bank fraud committee warns of improper check publishing ink

    WASHINGTON- According to the American Bankers Association (ABA) Deposit Account Fraud Committee, some questionable check publishing software manufacturers are not recommending the proper magnetic ink required to process checks in high-speed equipment often found at banks and retailers, causing hassles for consumers and businesses alike. Improper printing slows down the...

  • NAFCU meets with Bush administration rep

    WASHINGTON-For the second time this year, NAFCU met with Special Assistant to the President for Economic Policy Pippa Malmgren to emphasize the efforts of credit unions to the administration. Attending the meeting were NAFCU President and CEO Fred Becker, Senior Vice President and General Counsel Bill Donovan, and Director of...

  • FirstCorp debuts online share draft imaging access

    PHOENIX - The $780 million FirstCorp will begin image access of share drafts on its Web site by Aug. 31 and expects to expand the service for home banking access by year-end. FirstCorp President/CEO Pete Pritts said image access will be available to member CUs at no extra charge, or...

  • CU Direct opens new data center, expands technology capabilities

    RANCHO CUCAMONGA, Calif. - After several months of logistical planning, CU Direct Corp. has moved its data center into a new 11,000 square-foot facility in Rancho Cordova, Calif. The new facility means CU Direct can consolidate the servers and other technology of the CUDL system from the various locations within...

Publisher's Column

  • Time to look closer at thrift conversions

    News of still another credit union deciding to become a savings bank hardly causes a stir in credit union land. Maybe it's time to begin paying some attention to what has already taken place and what could likely happen further down the road. So far the number of credit unions...

People

  • VENDORS

    Ellie Mae Inc., a provider of Internet and software solutions for the mortgage industry, has named Dave Hershman vice president of sales and training and Jeff Benjamin director of business development.

  • EAST

    Brockton Credit Union, Mass., Vice President/Corporation Clerk Rose Kalman has retired after 46 years of service. Kalman has played a key role in building the credit union's reputation of high level of customer service. Maine Credit Union League, Portland, Historian for the past 56 years, Jeannette Morin has announced her...

  • WEST

    First Financial Credit Union, West Covina, Calif., has promoted Robert Behrens to vice president of risk management. Riverside County's Credit Union, Calif., has named Ann Grafsky assistant vice president for strategic planning and Elaine Walker assistant vice president for branch operations. Redwood Credit Union, Santa Rosa, Calif., has named Renee...

  • MIDWEST

    CUNA, Madison, Wis., has appointed Sandia Laboratory Federal Credit Union President/CEO Chris Jillson, district five director and Boeing Employees Credit Union Director of Training/Development Tracy Laurie, HR Council executive committee director.

Letters to the editor

  • Mortgages key to member relationships

    Some very strong points that credit unions, especially smaller credit unions, really need to hear were made in the opinion article by Edward Burger of Midwest Loan Services Inc., "Sell the mortgage if you must, but retain the servicing" in the July 4th issue of Credit Union Times. Mr. Burger...

  • CEO agrees CU meetings lack controversy

    Once again Mike Welch has exceeded my expectations! In his recent publisher's column regarding conferences and the avoidance of dealing with controversial issues, he described a feeling that I have had for years. The failure to address controversy doesn't simply stop at national meetings however. Our own state meetings have...

Opinion

  • It's all in the delivery

    It is understood in the industry that retention of membership improves dramatically when each member participates in one additional credit union program. Ultimately, each credit union sets a goal to be each member's primary financial institution. Effective delivery will bring your institution a step closer to that goal. Meaningful programs...

Briefs

  • "Ask Us" says GE Mortgage Insurance

    RALEIGH, N.C. - GE Mortgage Insurance hopes to have the inside track to what its customers want. The company has added "Ask Us", an online information resource, to its Web site. Users can choose to chat online with an expert for immediate feedback; contact a sales person, underwriting specialist by...

  • SWBC launches "Circle of Protection"

    SAN ANTONIO -Southwest Business Corporation, an insurance and financial solutions provider, has a new spin on automobile coverage. Called the Circle of Protection, it is a maintenance, service and support package that functions more like an "HMO" for vehicles. Designed as a value-added service for members, the Circle of Protection...

  • E-service more important than E-sales

    NEEDHAM, Mass. - A TowerGroup research report E-Service: A strong second lead for e-insurance finds that many insurers still lack the technology infrastructure to effectively service consumers online. With an estimated 70% of consumers using the Internet to research insurance companies and products, the report indicates this number will only...

  • Credit union insurance agency turns one

    BOCA RATON, Fla. - Members Insurance Services, LLC, an independent insurance agency owned by IBM Southeast Employees' FCU, who spearheaded its formation, and five other credit unions, has recently celebrated its first anniversary. Since opening its doors last year, several credit unions have joined the $450 million credit union including:...

  • CNA Life and Long-Term care goes paperless

    NEW YORK - CNA Life and Long-Term care has selected the BISYS appointpak.com paperless licensing system. The Internet-based system provides online access to the status of appointments, terminations and letter of certification requests required by state insurance departments. More than 800 insurance companies, broker-dealers, banks and marketing organizations use the...

Publisher's Notebook

  • Beyond the job

    As busy and dedicated as credit union staff and volunteers are, never doubt that they also have a life beyond their jobs. Our editorial staff was so convinced that readers would find occasional, after hours, personal tidbits about credit union people so interesting that they recently created a new Credit...

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