Credit Union Times Magazine February-27, 2002

  • 007-agents in force at GAC

    NASHVILLE, Tenn. - CUNA Governmental Affairs Conference attendees can play spy games at the FISI-Madison Financial booth. Playing off a popular James Bond movie this year's booth theme is "The Man with the Golden Plan" and grand prizewinners will walk away with British Royal Mint Gold Sovereigns valued at approximately...

  • A Q&A with U.S. Central President/CEO Dan Kampen

    CU Times: What is U.S. Central's primary role in serving corporate CUs? U. S. Central was designed to help corporates realize the economic benefits of pooling their financial and managerial resources. Through economies of scale, the corporate network provides credit unions with top-quality investment, liquidity, loan and payment products. By...

  • A lot more to CUNA than meets the eye

    WEST PALM BEACH, Fla. - With the GAC setting, all eyes are on CUNA's strength in Washington, but the trade association is much more than that. There are a number of arms to CUNA, and Credit Union Times has compiled them here to give readers an idea of the scope...

  • ABA's Keith Leggett: Enron a "Pandora's Box" for credit unions

    WASHINGTON - Keith Leggett, senior economist for the American Bankers Association and long-time credit union critic, predicted on the eve of CUNA's Governmental Affairs Conference that the ongoing Enron scandal would significantly change the landscape for all financial institutions, including credit unions. "Enron's impact is going to be echoing and...

  • AFG EZLendT program lets credit unions capture lost auto loans

    HOUSTON, Texas - Credit unions that have to turn down auto loan applications from members who are unable to afford loan payments or have damaged credit risk irritating members and losing business. Auto Financial Group, an online provider of residual-based financing products, has come up with a solution that allows...

  • African-American farmers get help from Wachovia Bank to start credit union

    HEATHSVILLE, Va. - Being denied access to small business and agricultural loans for years says the National Black Farmers Association, is about to significantly change after one of the largest banks in the U.S. agreed to assist the group with the start of a federally-chartered credit union. The move comes...

  • Alabama CU ranks high with members

    TUSCALOOSA, Ala. - Nearly 70% of members consider Alabama Credit Union their primary financial institution. A recent member survey conducted by independent research firm Strategic Metrics Inc., also found that members gave the $135 million credit union an overall satisfaction rating of 6.05 on a scale of 7.0. With an...

  • Alaska credit unions to try new approach at GAC

    JUNEAU, Alaska - This year, Alaska's credit unions are trying a different approach at CUNA's Governmental Affairs Conference. Bob Teachworth, president of Denali Alaskan Federal Credit Union, is chairman of the Alaska Credit Union League's Governmental Affairs Committee. He expects about 30 people to attend the GAC from the state's...

  • Assurant Group's Home & Auto Protector program offers CUs cross-selling opportunities

    ATLANTA - Members who have been approved for mortgages or auto loans should be able to focus on moving into their new home or driving away in their vehicle of choice. But being a new home or car owner brings a battery of concerns that can weigh on a member's...

  • Bankruptcy filings hit record 1.5 million in 2001

    WASHINGTON - Bankruptcy filings ballooned to 1.5 million in 2001, an all-time record. Approximately 97% of those filings were for personal bankruptcies, which were up by 19%. Business bankruptcies were up 13%. In credit union land losses related to bankruptcy went up as well. Loans charged-off to bankruptcy increased by...

  • Baxter CU raises over $338,000 for families of Sept. 11

    VERNON HILLS, Ill. - Baxter Credit Union has raised a total of $338,150.44 through the Baxter Relief Fund to benefit September 11 disaster relief efforts. Working with Baxter Healthcare CEO Harry Kraemer and the Baxter Executive Management Team, the fund was established shortly after the terrorist attacks this past September....

  • Bianchini responds to banker's letter with his own letter to the governor

    TULSA, Okla. - Oklahoma Credit Union League President/CEO Bob Bianchini wasted no time in sending off a letter to Gov. Frank Keating addressing the "numerous inaccurate and false statements" about credit unions made by Mike Jacobs, CEO of First Pryority Bank, in a letter the banker sent to the governor...

  • Butler translates passion for extreme sports to work as GFCU's CEO

    ATLANTA - A word to the wise: Don't scoff at any suggestions Georgia FCU's new president/CEO Warren Butler says he going to try - that will only get him to work that much harder at his endeavor just to prove he's can do what he sets his mind to do....

  • CDCU status changes Dana FCU's FOM but not its mission

    CU Times Editor-in-Chief FORT WAYNE, Ind. - Dana FCU has always prided itself on being a provider of low-cost products and services to its members. It now has community development credit union status and that, says the $158.7-million CU's president, makes Dana's mission statement all the more important. While Fort...

  • CFOs share expertise at Regional CUNA CFO Council Roundtable

    FARMERS BRANCH, Texas - How do I monitor OFAC compliance? When will NCUA move to quarterly call reports? How do I apply for Reg-Flex? These are some of the questions fielded at the recent Regional CUNA CFO Council Roundtable held at Texas Credit Union Center, where 44 credit union chief...

  • CUNA's Executive Boot Camp set for April

    MADISON, Wis -CUNA's Executive Boot Camp is slated for April 14 - 17 at the Resort Semiahmoo in Blaine, Washington. Formerly known as CEO Boot Camp, CUNA's Executive Boot camp is designed to cram in a curriculum that would take six months in a traditional educational environment into just a...

  • CUNA's Model Credit Union Act Task Force completes update of document

    WASHINGTON - After two-and-a-half years, the members of CUNA's Model Credit Union Act Task Force can finally take a deep sigh and congratulate themselves for completing what turned out to be the most extensive updating of the association's Model Credit Union Act. The last time the Act was updated was...

  • CUNA's "Project Differentiation" no substitute for policy initiatives, critics say

    WASHINGTON - CUNA's Project Differentiation, the effort encouraging credit unions to document the ways they serve their members, is either a practical way for credit unions to measure and understand their services or a "well intentioned" but insufficient approach to forestalling any CAP like requirements. Or both. It depends on...

  • California CUs change names

    CAMP PENDLETON and HUNTINGTON BEACH, Calif. - Call it the name game, and two credit unions here are the latest contestants. A charter change has prompted Marine Corps West Federal Credit Union to change its name to Pacific Marine Credit Union. Meanwhile over in Huntington Beach, the $541 million McDonnell...

  • `Circuit Rider' aids Montana credit unions on compliance problems

    CU Times Midwest Correspondent HELENA, Mont. - When Montana credit unions need guidance on compliance matters, they call "Jeanne." Jeanne Bauman, assistant vice president of regulatory affairs at the Montana Credit Union Network, has become the circuit riding compliance "guru" for CUs in the state. Indeed, associates describe her as...

  • City-County FCU's Auto Resource Center makes it easy for members to find a used car

    BROOKLYN CENTER, Minn. - When members of $330 million City-County Federal Credit Union (CCFCU) in Brooklyn Center, Minn. need to go car hunting, their first stop now is CCFCU's Auto Resource Center, a new CUSO operation created last August. The Auto Resource Center is designed to be a one-stop shopping...

  • CommunityAmerica CU bonus dividends total $336,000

    KANSAS CITY, Mo. - For the third year in a row, CommunityAmerica Credit Union has distributed $336,000 in bonus dividends to members. "We have had another great year and are very pleased to start the first quarter of 2002 by distributing the ownership participation dividend," said CommunityAmerica CU COO Mike...

  • Corporate America CU launches new CUSO

    IRONDALE, Ala. - Corporate America Credit Union, formerly Alabama Corporate CU, has formed an investment CUSO. C U Brokerage Systems, Inc. will operate as a wholly-owned subsidiary of Corporate America Credit Union and will primarily offer CUs investment products. The CUSO will also offer a Web-based Asset/Liability Management Service and...

  • Corporate CU leaders speak out on issues impacting the network

    WEST PALM BEACH, Fla. - Corporate credit unions seem to be doing more these days, but leaders say corporates have been serving their members' needs for years with top-quality products. What is different today is the needs of credit unions have changed so dramatically corporates have had to adjust their...

  • Credit union, bank leaders tackle the tough issues

    WEST PALM BEACH, Fla. - The Washington D.C. area, the setting for CUNA's Governmental Affairs Conference, is the home of major national credit union trade associations, NCUA, and of course Congress. All of this makes for it being the playing field for many credit union initiatives and battles. Credit Union...

  • Credit union survival in vacation hotspots

    WEST PALM BEACH, Fla. - From the balmy beaches of Hawaii and Key West to enjoying jazz in New Orleans or gazing at the lights on the Las Vegas Strip, when it comes to working in a credit union in these areas it is all about attitude. Naturally they face...

  • Credit unions should benefit from campaign reform effort, Mica says

    WASHINGTON - The Credit Union Legislative Action Council's (CULAC) efforts should benefit if the current federal campaign finance reform effort makes it into law, said Dan Mica, president/CEO of CUNA. Campaign finance reform should help level the playing field when it comes to political fundraising by closing down the loopholes...

  • Credit unions warned of phony IRS e-mail

    MADISON, Wis. -Tax season is well underway, and the latest fraudulent e-mail scam is taking full advantage of it. The phony e-mail sent from a non-Internal Revenue Service source notifies the receiver that he/she is under audit and needs to complete a questionnaire within 48 hours to avoid the assessment...

  • Credit unions with an eye on education

    WEST PALM BEACH, Fla. - With job layoffs and a recession, credit unions are stepping up to the plate to educate members. Most seminars are free, open to public and cover topics ranging from basic money management to understanding tax laws. Here is a glimpse at what some credit unions...

  • Digital Insight to convert VIFI clients by July

    CALABASAS, Calif. - Digital Insight says it hopes to have 153 former VIFI clients merged on to its system by July. Digital Insight acquired Net banking firm VIFI on Jan. 28. There was some early concern among the 153 CU clients that they were going to be quickly forced to...

  • EasCorp and subsidiary host ALM Academies

    WOBURN, Mass. - EasCorp and its ALM subsidiary, ALM First will host their ALM and Investment Academies in April and November to update credit union officials on the latest trends in risk management and bond markets. The Investment Academies, featuring both basic and advanced training levels, will take place on...

  • Enron's lesson: taking a proactive stance to red flags, says Institute of Internal Auditors

    ALTAMONTE SPRINGS, Fla. - As Enron Corp.'s relationship with its auditor, Arthur Anderson continues to come under heavy fire, one trade group has reemphasized the need to spot red flags and be aware of sudden and questionable changes in management style. The Institute of Internal Auditors (IIA), an international association...

  • Ent FCU celebrates 45th anniversary

    COLORADO SPRINGS - Ent Federal Credit Union will celebrate 45 years of service in Colorado Springs on February 20, 2002. Ent FCU has grown from having just 30 members and $602 in assets in 1857 to one of the leading financial institutions in Colorado serving more than 137,000 members with...

  • Filene's Hoel says recession is a time for credit unions to thrive

    TOTAWA/DEPTFORD, N.J. - Credit unions can increase their loan portfolios in the midst of the current recession by marketing a variety of refinancing opportunities to members in good standing. This was the key point Robert Hoel made to credit union administrators at two educational sessions held at North Jersey FCU,...

  • GAC Special Issue Features

    WASHINGTON - Some 2,800 credit union people are expected here in the nation's capital to attend CUNA's Governmental Affairs Conference, the trade association's largest conference of the year. It's a special issue for Credit Union Times as well. This 120-page issue sets a record for number of pages. (See page...

  • Garden State CUs remain optimistic about economy in face of layoffs

    EWING, New Jersey - The current economic recession in New Jersey is getting mixed reviews from the state's credit union leaders. Some administrators feel this is not a deep recession, with signs of optimism on the horizon, yet others are just beginning to deal with member lay-offs, both from the...

  • Georgia Affiliates' Miner keeps CU message in front of state legislators

    DULUTH, Ga. - If you're in Washington for the GAC conference, take advantage of the opportunity to meet your Congressional delegation and discover the difference between Government 101 and the reality of life inside the Beltway - or back at your state legislature or town council. That advice comes from...

  • Hawaii CUs hold their own in face of islands' sluggish economy

    CU Times Hawaii Correspondent HONOLULU, Hawaii - Despite September 11's terrorist attack on the U.S., and a prolonged economic slump, credit unions in the Aloha State are reasonably healthy. In general, credit unions have sustained growth in the face of the worst economic crisis in the history of Hawaii. While...

  • Honing in on unique needs of multicultural members helps United Nations FCU reach $1 billion in assets

    NEW YORK - For a credit union that serves members from more than 100 countries, the United Nations Federal Credit Union relies heavily on marketing research to tap into a diversity of needs. The credit union recently reached the billion-dollar asset mark, and Michael Connery, president/CEO, attributes that pinnacle to...

  • Iowa credit unions sharpen focus on legislative priorities

    DES MOINES, Iowa - Predatory lending and impending changes in electronic funds transfers lead a short list of issues before Iowa credit unions in the year ahead. The seemingly never-ending battle with banks over the non-profit status of credit unions was close to the top of many minds, but that...

  • Maryland House, Senate bills introduced, open door for ASI to provide private insurance

    BALTIMORE, Md. - Two identical bills - House Bill 728 and Senate Bill 776 - were introduced in the state House and Senate on February 6 that empower the state commission of financial regulation to approve American Share Insurance (ASI) to provide private insurance to Maryland's state-chartered credit unions. ASI...

  • Michigan mortgage CUSO hits $500 million in servicing milestone

    SOUTHFIELD, Mich. -Sell the servicing for members' mortgages to a third-party provider? Not a chance, says Dave Toepp, president of Mortgage Center LC. It's not only something the CUSO wouldn't consider doing, "it's why members come to us in the first place," he says. It's that philosophy that has helped...

  • Minnesota Life sets new record

    ST. PAUL, Minn. - Despite a rough economy, Minnesota Life Insurance Company has sold a record $2.5 billion in 2001. "Minnesota Life faced many challenges in 2001, and the rise in sales is indicative of the company's ability to weather tough times," said Minnesota Life Chairman/CEO Robert L. Senkler. Senkler...

  • Missouri CU System offers small business symposium

    ST. LOUIS - Missouri Credit Union System is hoping a three-day seminar will help credit unions better serve small business. Scheduled for March 6-8 at the Millennium Hotel here, the "Serving Small Business Symposium" offers credit unions a practical guide on small business service. MCUS President/CEO Rosie Holub views the...

  • Most consumers know they need help with finances but don't seek it, CFP survey reports

    DENVER - Given the economy's slump, it's not surprising that people in their 20s and 30s have shifted their financial goals towards reducing debt and away from long-term goals such as saving for retirement, as one recent survey found. Likewise, when the Certified Financial Planner Board of Standards, the certifying...

  • Move disaster planning to the front burner, CEO says

    WASHINGTON - For the majority of Americans the anthrax scares of late 2000 have become just that, scares. Many people around the country have returned to opening their mail with greater confidence and no longer nervously await their mail carrier. Other, pressing concerns, crowd the headlines. But for Patricia Yates,...

  • NACUSO, O'Rourke Sacher & Moulton putting finishing touches on CUSO service alliance

    NEWPORT BEACH, Calif. and BRISBANE, Calif. - A alliance between three experts in the fields of CUSO legal, regulatory, accounting, tax and strategic issues that will serve as a "resource center for credit unions and CUSOs" is in the final stages of development. The alliance partners include Tom Davis, director...

  • NAFCU 2002 awards competitions now open for entries

    WASHINGTON - NAFCU has announced that it is now accepting nominations for its 2002 awards competition in three separate areas: annual, marketing and innovation showcase. "Winners in these categories represent the elite among credit union leaders and innovators," said NAFCU Awards Committee Chair Bill Cheney,president/ CEO of Xerox FCU. "Each...

  • NAFCU's credit management workshop

    ARLINGTON, Va. - NAFCU's Credit Management Workshop, being held March 11-15, in San Antonio will cover electronic signatures, particulars of the E-Sign Act, and the successes and developments in online lending. The conference is specifically designed for credit planning experts. It will also feature collection strategies for both business and...

  • NCUA committed to the motions on CAP repeal; majority of letters favor repeal

    ALEXANDRIA - NCUA general counsel staff will read, summarize and tabulate credit union comments on the agency's interim final rule repealing CAP even though it appears the question has reached a foregone conclusion. "It's not a fast process, but we expect it to go forward," said Clifford Northup, Director of...

  • NCUA silent on whether Wheat was ever chair

    ALEXANDRIA Va, - Neither NCUA nor former Board member Yolanda Wheat have chosen to speak for the record over allegations that Mrs. Wheat was never formally named to be chair of the NCUA Board. During the waning days of the Clinton Administration the White House asked then Chairman Norman D'Amours...

  • NCUA year-end 2001 stats show strong mortgage, savings growth; net worth below 11%

    ALEXANDRIA, Va - Credit unions continued making a growing number of first mortgages in 2001, writing 16.7% more of the real estate loans than in 2000, up from $76.3 to $89.1 billion, according to NCUA. The 16.7% growth rate for the loans doubled last year's 7.8% growth rate as well....

  • NCUF seeks federal funding for homeownership programs

    MADISON, Wis. - The National Credit Union Foundation is preparing to file applications for two programs that will allow leagues and credit unions to obtain federal funding, through NCUF, to support credit union programs in homeownership counseling and increased access to affordable financial services. By applying to become a certified...

  • NW Ohio CU Chapter have "heart' for homeless

    TOLEDO, Ohio - It wasn't the typical gift of flowers or candy but a recent credit union campaign raised a lot of warm feelings. This past Valentine's Day, the Northwest Ohio Chapter of the Ohio Credit Union League donated more than $4,000 to Family House, the largest homeless shelter in...

  • Navy's McDonnell turns temp job into career

    VIENNA, Va.-After serving in active duty in the Navy from 1966 to 1970, Brian McDonnell was looking for a job while serving in the Naval reserves. The rest, as the saying goes, is history. McDonnell was offered two positions at Navy Federal Credit Union: the head of general accounting and...

  • Neill charged with keeping competitive Fiserv CU businesses on a cooperative plane

    BROOKFIELD, Wis. - It wouldn't appear that Tom Neill, president/COO of the Fiserv Credit Union and Industry Products Group, has a very easy job keeping six separate, but Fiserv-owned credit union data processing businesses in both competitive and cooperative spirits. That's just how those units are supposed to co-exist, and...

  • North Carolina credit union offering member scholarships in `unique' program

    RALEIGH, N.C. - In what is described as a "unique" partnership, Local Government Federal Credit Union here is offering $10,000 in scholarships to members who enroll in a newly reorganized government education unit of the University of North Carolina. The annual program, to start next month and thought to be...

  • Number of credit union CEOs with banking experience could proliferate

    WEST PALM BEACH, Fla. - Look around and you'll find a fair number of credit union CEOs with banking backgrounds - many more may be on the way. With 25% of credit union CEOs expected to retire within the next four years, credit union boards will be searching high and...

  • Oklahoma credit unions to state House committee: service tax a bad idea

    OKLAHOMA CITY - Steve Rasmussen, president/CEO of FAA Employees Credit Union spoke before the state House Committee on Revenue and Taxation on behalf of Oklahoma's 28 state-chartered credit unions and told the committee members that their idea to increase the use tax would have detrimental effects on credit unions and...

  • Omaha CU marries technology and security in new branches

    OMAHA, Neb. - An Omaha credit union is blending technology with a need for teller security in two new branches. A wave of bank robberies in the Omaha area, including two at his branches, convinced Don Mahan, president of Centris Federal Credit Union, to install the systems, which have tellers...

  • Oregon credit unions embrace teen intern program

    PORTLAND, Ore. - Cliff Dias admits he's ready to hire the four interns currently working at Portland Teachers Credit Union. "I would put any of them to work today if they would want a full-time job," said Dias, president and chief executive officer of the largest credit union in Oregon...

  • Pennsylvania CUL, TransUnion offer CU Reports

    HARRISBURG - The Pennsylvania Credit Union League and preferred provider TransUnion have launched "CU Reports", a tiered pricing structure based on the total volume of credit reports purchased by participating credit unions. To participate, a credit union must be affiliated with the PCUL, agree to use TransUnion as their primary...

  • Premier West CU emphasizes community partnership for donation campaign

    STOCKTON, Calif. - Premier West Credit Union has taken a creative approach to supporting local charities while building community partnerships. The credit union is donating 50-basis points of its total loan income to San Joaquin County community charitable organizations through the United Way. "The more loans our members have with...

  • Project Zip Code helps Texas CUs identify legislators' constituents

    FARMERS BRANCH, Texas - Texas credit union officials at CUNA's Governmental Affairs Conference this week will be better equipped to show legislators the impact credit union members can have on their political campaigns thanks to CUNA's Project Zip Code initiative. Project Zip Code is a software program that determines which...

  • Purina CU, St. Louis Rams cheerleaders raise funds for CMN

    ST. LOUIS, Mo. - This past Valentines day, Purina Credit Union members had an opportunity to pose with Rams Cheerleaders. Held at the Nestl? Purina PetCare Company's world headquarters, the St. Louis Rams Cheerleader Day, helped raise money for the Children's Miracle Network. Cheerleaders were on hand to lend their...

  • Retirement changes outlook for Illinois' Adams

    GALESBURG, Ill. - After spending nearly 40 years running a credit union and several years after that remaining active in CUNA, John Adams has a lot to recall about his career. While health problems these days have slowed the former energetic and outspoken Adams, he still has some strong opinions...

  • SAFE CU to offer ShareBuilder's online stock service to members

    SACRAMENTO - In a move to woo novice investors, SAFE Credit Union's CUSO, SAFE Services Inc. has aligned with ShareBuilder Securities Corp. to offer members its Internet stock purchasing service. The partnership has been a year in the making after studying member activity to research what would be one of...

  • Santa Ana FCU welcomes risk-based lending

    SANTA ANA, Calif. - Risk-based lending has come to Santa Ana Federal Credit Union. SAFCU members with stronger credit will now be able to receive lower rates than members who haven't handled their credit as responsibly. According to SAFCU Human Resources Manager Marilou Guerrero the change of process opens the...

  • Something FISHy!

    CHULA VISTA - There was something fishy going on during North Island Financial Credit Union's annual operations meeting this year. Employees learned the FISH! Philosophy secrets of business success and fish tossing from John Yokoyama, founder of Seattle's World Famous Pike Place Fish Market. Designed to incorporate fun and training,...

  • Texas CUs top $1 million in Credit Unions for Kids donations

    CU Times Texas Correspondent AUSTIN, Texas - Texas credit unions raised more than $1 million for the Children's Miracle Network in the 2001 Credit Unions for Kids fundraising campaign. As the largest credit union contributor to Children's Miracle Network, Texas has contributed a total of $5.75 million over the last...

  • Texas HR alliance brings added services to CUs

    FARMERS BRANCH, Texas - Credit Union Employment Resources (CUER) and Human Resources and Management Services of San Antonio have formed an alliance that will allow CUER to offer CUs improved HR services and more resources. Among the services Human Resources and Management Services offers are one-on-one consultation; management representation; supervisory...

  • Truliant FCU celebrates its employees

    WINSTON SALEM, N.C. - Where would a credit union be without a staff of talented and hardworking individuals to provide member services? Truliant FCU dedicated an entire day, February 18, to celebrate the spirits of its employees who have not been discouraged by a sluggish economy nor trying times during...

  • Utah CU CEO "worn out," but OK in Olympic duty

    SALT LAKE CITY - He's not getting much sleep and he can barely squeeze in "a few hours on weekends" with his family, which explains why Jeff Blackburn, the Salt Lake City credit union president, called up for Army National Guard duty to help out Olympic security, admits "it will...

  • Virginia CU files to expand FOM to serve HS students

    ALEXANDRIA, Va. - City of Alexandria Employees CU filed with the Bureau of Financial Institutions to expand its field-of-membership to include students of Alexandria City Public Schools. Initially the $18.4 million CU will serve 2,000 students at the Academy of Finance at T.C. Williams High School, and eventually the credit...

  • WASHINGTON Q&A: Credit union, bank leaders give views on key topics

    CU Times: Some argue that the very large community charter expansions that have occurred over the last two years give the perception that credit unions can serve the general public, rather than a defined FOM or people of a common bond. Do you agree with this? Is this damaging? CASEY:...

  • Washington CUs to get new `FOM-Flex' rule

    FEDERAL WAY, Wash. - State-chartered credit unions throughout Washington will be able to expand their fields of membership without first obtaining regulatory approval under a new rule to be adopted by the Washington State Division of Credit Unions. The new rule, scheduled to go into effect March 8, will apply...

  • What CU CEOs do in their spare time

    CU Times Reporter While many may think credit union CEOs were born plugged into the credit union with a suit and tie, most CEOs do take time to kick back and enjoy life. Here is a glimpse at some of the ways CEOs unwind:

Events Calendar

  • 2002 ASSOCIATION MEETINGS AND EVENTS

    MARCH MARCH 3-5 ACUMA's Real Estate Lending Conference, Renaissance Scottsdale Resort, Scottsdale, Ariz., 480-991-1414. For info: Bob Dorsa, 877-44-ACUMA. MARCH 3-8 CUNA & Affiliates Center for Professional Development, Collections & Credit Counseling School, Tempe Mission Palms, Tempe, Ariz. For info: CPD, 800-356-9655, x 4249 or www.cuna.org. MARCH 3-8 CUES Execu/Summitt,...

  • 2002 VENDOR MEETINGS & EVENTS CALENDAR

    MARCH MARCH 4-8 Lending Solutions, Inc. Rex Johnson's University of Lending, Crystal Lake Holiday Inn, Crystal Lake, Ill. For info: Marsha Weider, 888-574-6572. MARCH 6-8 CNBS Institute Series, Aladdin Resort & Casino, Las Vegas, Nev., 800-311-8999. For info: Tammy Poe, 800-222-0978. MARCH 7-10 CU Conferences, Spring Training University Comprehensive Leadership...

News Briefs

  • ASI's Adams keeping an eye on IRA provision in insurance reform measures

    DUBLIN, Ohio - If it wasn't for one provision out of the many covered in the House and Senate versions of bills to reform federal deposit insurance, American Share Insurance's Dennis Adams wouldn't be concerned. ASI's president, though, is keeping an eye on the bill's provision that would double deposit...

  • CO-OP promotes Hanisch, Porter

    ONTARIO, Calif. - CO-OP Network has promoted two key executives. Jim Hanisch moves from senior vice president to chief information officer/executive vice president of corporate development, and Eric Porter moves from vice president of business development to senior vice president of business development/national sales. "Jim and Eric have been integral...

  • CUNA's new exhibit hall system leaves some long-time GAC vendors on the sidelines

    WASHINGTON - CUNA has a new system for awarding exhibit hall space for its popular GAC set to open Feb. 24 that has left some long-time vendor supporters without a booth for this year's GAC. "We've supported the GAC for 10 years and now they're telling us because they want...

  • Colorado Senate Panel passes predatory lending bill

    DENVER - A bill to curb predatory mortgage lending in Colorado has easily cleared its first hurdle, winning a 6-1 vote by the Senate Business Labor and Finance Committee. The measure, backed by a broad coalition of consumer groups and joined by the Colorado Credit Union League, would set new...

  • Furukawa CU Times Hawaii correspondent

    WEST PALM BEACH, Fla. - With credit unions in Hawaii growing in prominence, it has become increasingly important for Credit Union Times to provide timely coverage of news concerning the state's credit unions despite a six-hour time difference between Hawaii and our offices. George Furukawa has joined our team of...

  • Pentagon FCU CEO makes "Fast 50"

    ALEXANDRIA, Va. - Fast Company readers have named Pentagon Federal Credit Union President/CEO Frank Pollack as one of the magazine's "Fast 50 Champions of Innovation." Ranked third, Pollack was recognized for "rallying his troops around a balanced scorecard that puts member satisfaction first, employee satisfaction second, and financial performance third."...

In Other News

  • AWARDS

    Oregon Metro Federal Credit Union, Eugene, has recently awarded outstanding staff members and volunteers who demonstrated their commitment to Oregon Metro throughout 2001. Serving as positive examples of how to successfully serve each member, the winners are nominated by peers. This year's recipients are as follows: Heather Tucker, Rookie All-Star;...

  • BRANCHING OUT

    First Community Credit Union, St. Louis, Mo., has opened its latest branch in St. Charles. The full-service branch features four drive-up lanes and a drive-up ATM. The branch was designed by HBE Corporation, a design/build firm. @LANTEC Financial Federal Credit Union, Virginia Beach, Va., has opened its fourth branch in...

  • DONATIONS

    Municipal Employees Credit Union of Baltimore, for the third consecutive year, has exceeded its goal for the 2001 combined Charities Campaign by raising over $34,000. MECU has contributed to over 100 agencies registered with Combined Charities and ranks eighth for donations among a list of 30 agencies in Baltimore City....

  • MILESTONES

    Wisconsin Credit Union League, Pewaukee, has recognized the following credit unions that will be celebrating landmark anniversaries in 2002: 75 years- Kenosha Postal Employees CU, Pioneer CU; 50 years- Douglas County CU, Brokaw CU, Lakeside, CU Dings Employees CU, Harbor CU, Whiting Plover CU, Dairyland Power CU, U.S. Paper Mills...

Tech Bytes

  • Alphabet of training options offers expertise, but doesn't replace experience

    COLUMBIA, S.C. - Brad Wood knows a lot of certifications, that seemingly never-ending list of acronyms that indicates specialized training in a specific technology or vendor's product. As network administrator at Clark County Schools Employees Credit Union in Vancouver, Wash., Wood has to know what they mean when he hires...

  • Aurum partners with Baker Hill

    PLANO, Texas - Aurum Technology Inc. has partnered with Baker Hill to enhance business CRM and online loan application processing with its core system, MISER. Aurum will employ Baker Hill's OnePoint business banking Customer Relationship Management (CRM) solution and Bank2Business.com commercial loan application system as channel extensions and decision-support tools...

  • CU Exec Center hosts online MBL chat

    MADISON, Wis. - Charles Grossklaus, president and CEO of Royal CU, Eau Claire, Wis., fielded more than 30 questions about credit union member business lending during a one-hour live online chat recently at CUNA's new CU Executive Center located at www. Cucenter.cuna.org. Royal CU, with $575 million in assets, has...

  • CU Village.com adds Equifax online tools

    NORTHVILLE TOWNSHIP, Mich. - Equifax Consumer Services Inc. and CU Village.com, Inc. have entered into an agreement to provide credit unions the ability to participate in the Equifax online affiliate program. Under the agreement, participating CU Village.com credit unions can offer members Equifax's online consumer credit services, including Equifax Credit...

  • CUNA Mutual offers small CUs a tech toolkit

    MADISON, Wis. - CUNA Mutual is offering a new technology "toolkit" to credit unions with less than $20 million in assets to help them make informed tech decisions. The Small Credit Union Connectivity Toolkit features a guidebook, a calculation tool and a Filene research report. "About 40% of credit unions...

  • Customer retention main impetus for providing aggregation

    CAMBRIDGE, Mass. - Why do financial services organizations offer account aggregation? The primary reason, according to a Forrester Research study, is customer retention. Some 51% of 45 financial providers, when surveyed, say customer retention is the main driving force. Interestingly, the next most popular reason was fee potential, coming in...

  • Langley FCU donates computers

    HAMPTON, Va. - Langley Federal Credit Union has donated over 60 computers to local non-profit organizations within the past year. Non-profit recipients were selected based on their resource needs. As LFCU upgrades internal systems, area organizations are polled for system requirements. In most cases, computers are donated on a first...

  • Liberty Cavion, Reed Data partner

    ENGLEWOOD, Colo. & MIDWAY, Utah - Credit union Net banking firm Liberty Cavion and core processor Reed Data, Inc. have partnered to integrate Reed Data's suite of optical imaging and archiving systems with Liberty Cavion's Internet banking solutions. According to Mike Provenzano, Liberty Enterprises Executive Vice President, Internet Applications and...

  • Member-relationship technology evolves along with issues

    COLUMBIA, S.C. - Credit unions would seem to have a natural advantage as the next phase of customer-relationship management - or member-relationship management - solutions and technology sweep through the business world. According to Gartner Inc., a Connecticut-based think tank and consultancy, 40% of enterprises with such solutions in place...

  • Some credit unions toss aside old PBX system for IP telephony solutions

    COLUMBIA, S.C. - Serving up cutting-edge technology to a tech-savvy membership wasn't the goal of Blackhawk Credit Union when it decided to go with IP telephony for its phone service. In fact, the $190 million, 40,000-member community CU in southwestern Wisconsin made the move to cut phone bills and create...

  • Surge in spending on advanced Web tools

    NEWTON, Mass . - In another sign of how much mere brochure-ware has become a thing of the past, major financial institutions worldwide are rapidly escalating the amount of money they're spending on sophisticated self-help Web banking applications. According to a just-released report by Meridien Research, a financial technology research...

News

  • Australian credit unions tackle fraud issues

    SYDNEY, Australia - Credit card and check (or cheques as the Australians spell it) fraud is on the rise everywhere, and down under is no exception. The costs of fraud to Australian CUs may seem less in total dollars than in the U.S. because of Australia's smaller population, it may...

  • Bank backgrounds

    Former bankers are moving into credit union CEO positions. More may be on the way. Page 19.

  • Hawaii credit unions hang tough

    With tourism down, Hawaii CUs are creatively dealing with the state's economic slump. Pages 88-89.

  • The credit union Washington scene looks much different in 2002

    WASHINGTON - So much has changed on the credit union political scene in Washington. JoAnn Johnson and Deborah Matz have joined the NCUA Board, replacing Yolanda Wheat and Geoff Bacino. Some legislative issues, like bankruptcy reform, are the same, but new issues have emerged such as a regulatory relief bill...

People

  • CENTRAL

    Kemba Credit Union, Cincinnati, Ohio, has promoted Daniel Sutton to vice president of finance/chief financial officer. Hopewell Federal Credit Union, Heath, Ohio, has named Marvin D. Oneson chief financial officer.

  • EAST

    Citadel Federal Credit Union, Thorndale, Pa., has elected Kevin Gravett and Frank Taddeo Sr., Citadel Financial Services board directors. Chartway Federal Credit Union, Virginia Beach, Va., has named Lori Ruzzano sales manager for the Wakefield and Warwick branches in Rhode Island. SSA Baltimore Federal Credit Union, Maryland, has named William...

  • SOUTH

    Oklahoma Credit Union League, has announced that former staffer Kelly Harker has accepted an operations position with Dowell Federal Credit Union. Louisiana Credit Union League, Harahan, has named Catherine Mayeaux member services consultant. In addition LCUL Director of Training/Development Kate McPike has been named President-Elect of the New Orleans Chapter...

  • SOUTHWEST

    Sandia Area Federal Credit Union, Albuquerque, N.M., has named the following four new vice presidents: Amy Aylward, vice president human resources; John Johnson, vice president information technology; Paula Mecca, vice president operations; and Anne McKinney vice president marketing.

  • WEST

    Redwood Credit Union, Santa Rosa, Calif. Has named Brett Martinez senior vice president/chief operations officer. Travis Credit Union, Vacaville, Calif., has named Cathy Rios vice president of marketing/product development. Financial 21 Community Credit Union, San Diego, Calif., has named Melinda Collins community relations officer.

Publisher's Column

  • CUs may be helping predatory lenders grow

    Many years ago, the proliferation of vicious and unscrupulous loan sharks gave impetus to the formation of a new idea called credit unions. It wasn't long before these member-owned cooperatives began to replace the sharks as lenders of last resort. But the loan sharks never went completely away. They are...

Letters to the editor

  • Cooperative better name than credit union

    I read with great interest Richard Rays' comments in the January 23, 2002 issue of Credit Union Times about the words "credit union" that follow the trade names of the institutions in our movement. I agree with Richard that the word "union" does not properly describe what we do for...

  • Credit union name is just fine as is

    In regard to Mike Welch's February 13th "Kudos" publisher's column, I'm not in favor of changing from "credit union." I really don't think it's necessary, especially since the advent of share drafts. Besides, credit union logos are seen every day by the American public. They've become commonplace. They're out there,...

  • NAFCU's objection to reg relief for privately insured SCCUs unfounded

    Sometimes an event occurs that, perhaps unintentionally, speaks to the motivations and beliefs of groups within the credit union community. I have strong concerns with the statement attributed to NAFCU in the Feb 13, 2002 edition of Credit Union Times, in which they express opposition to a provision in a...

  • Second thoughts on CAP

    I've followed with great interest the debate on whether or not the repeal of CAP was an appropriate action on the part of the NCUA Board. I know that mainstream credit unions are pleased. I was pleased. Just for the record, I never felt that CAP was necessary. I argued...

Publisher's Notebook

  • For the record

    Records are made to be broken. This is the largest weekly issue of Credit Union Times ever published. Yet, the fact that you are holding a record-breaking 120-page issue in your hands is less important to you as a reader than what our editorial staff has written to fill these...

Opinion

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