Credit Union Times Magazine January-02, 2002

Staking Out the Stats

  • The debit card seems to be gaining popularity among consumers. Here is a look at how the debit card has grown over the years:

Events Calendar

  • 2002 VENDOR MEETINGS & EVENTS CALENDAR

    JANUARY JANUARY 7-11 Lending Solutions, Inc. Rex Johnson's University of Lending, Crystal Lake Holiday Inn, Crystal Lake, Ill. For info: Marsha Weider, 888-574-6572. JANUARY 16-18 MyDas Marketing's Annual Client Conference, Hard Rock Hotel & Casino, Las Vegas, Nev. For info: Sandy Wilson, 702-293-4446 or sandy@mudas.com. JANUARY 16-18 TNB Card Services...

In Other News

  • AWARDS

    Missoula Federal Credit Union, Mont., has been bestowed the Special Contribution to the System Award by the Montana Developmental Disabilities Planning and Advisory Council. The council annually awards individuals and agencies that make a positive impact on the lives of people with developmental disabilities. The credit union was recognized for...

  • DONATIONS

    Pacific Service CU, Walnut Creek, Calif., has donated $2,500 to sponsor the Fresno Juvenile Diabetes Walk to Cure Diabetes. Staff members also participated in the walk. Approximately 16 million Americans suffer from diabetes and its complications, which include heart disease, stroke, blindness, kidney failure, loss of nerve function and amputation....

News Briefs

  • Arizona FCU pays out $2 million

    PHOENIX, Ariz. - Arizona Federal Credit Union will issue the largest payout to members in its 65-year history - $2 million. "Our members have continued to show strong support of the credit union by their use of our services throughout the year," said AFCU President/CEO Ron Westad. "While we always...

  • Chatfield's American Banker letter addresses Western Union story

    NEW YORK - In a letter to the editor published in the Dec. 14 American Banker, California and Nevada CU Leagues President/CEO Dave Chatfield said Western Union may be right that banks aren't entering the international money transfer business any time soon, but credit unions are. Chatfield was reacting to...

  • Congress unlikely to adjourn until 2002

    WASHINGTON-Congress is unlikely to formally adjourn until it is required to on Jan. 3, 2002, according to NAFCU Associate Director of Legislative Affairs Brad Thaler. Congress will probably remain in a pro forma session until that date, when it must adjourn and begin the second session. The move will make...

  • Eastern Financial Florida CU unveils new logo

    MIRAMAR, Fla. - It's official: The former Eastern Financial FCU is now called Eastern Financial Florida Credit Union. EFFCU, with assets of more than $1.2 billion, was the third federal credit union in the Sunshine State to convert to a state charter in 2001. The other two were Tropical FCU,...

  • Fed Governor Kelley resigns effective end of year

    WASHINGTON-Federal Reserve Board Governor Edward W. Kelley, Jr., 69, submitted his resignation recently as a member of the Board of Governors of the Federal Reserve System, effective Dec. 31, 2001. Kelley, who has been a member of the Board since May 26, 1987, submitted his letter of resignation to President...

  • PULSE, TYME one step closer to merging

    BROWN DEER, Wis. and HOUSTON - TYME Corporation shareholders have recently approved a proposed merger with PULSE EFT Association. The TYME transaction will be the second PULSE expansion within the last year. Both networks signed a merger agreement earlier this year and the TYME shareholder approval was just one of...

  • Regulators offer help with financial privacy shortly following workshop

    WASHINGTON-NCUA, along with the four other banking regulators, issued guidance December 12 to help financial institutions comply with consumer privacy regulations. The agencies' regulations implementing the privacy provisions of the Gramm-Leach-Bliley Act (GLBA) became effective July 1, 2001. The guidance follows just one week after the GLBA agencies held a...

  • Regulators propose common form for charter and federal deposit insurance applications

    WASHINGTON-In an effort to promote consistency and reduce regulatory burden, the Office of the Comptroller of the Currency, the Office of Thrift Supervision and the Federal Deposit Insurance Corporation have proposed a uniform charter and federal deposit insurance application form. The new "Interagency Charter and Federal Deposit Insurance Application" form...

  • Senate OKs education package including financial literacy

    WASHINGTON-The Senate gave final approval to the education reform package by an 87-10 vote. The bill includes financial education measures lobbied for by the credit union community. The package passed the House earlier this month and is now awaiting the president's signature. The financial literacy provisions in H.R. 1 will...

  • TCU names L'Ecuyer new President/CEO

    MANCHESTER, N.H.- Telephone Credit Union of New Hampshire has appointed Michael A. L'Ecuyer President/CEO. L'Ecuyer is filling the void left by the passing of former TCU President/CEO Richard Mahoney last September. Serving as the $192 million credit union's senior vice president for the last four years, L'Ecuyer also has over...

People

  • CENTRAL

    Seven Seventeen Credit Union, Warren, Ohio, has named Brett Carnahan commercial lending officer. Firestone Office Federal Credit Union, Akron, Ohio, Loan Officer Norma Ploplis has retired after over 28 years of service. Ploplis plans to travel more, spend time working around the house and still help out the credit union...

  • EAST

    Medical Area Federal Credit Union, Boston, has named Nicole James CEO. Power Federal Credit Union, Syracuse, N.Y., has promoted Brenda Carhart to vice president of lending and Mark Baker to vice president of information technology.

  • MIDWEST

    CEFCU, Peoria, Ill., has named Mark Spenny to vice president of CEFCU Financial Services, Inc. Affinity Plus Federal Credit Union, St. Paul, Minn., has named Dean B. Kloeckner financial advisor and Craig E. Lindstrom financial advisor.

  • VENDORS

    Business Lending Group, a CUSO, has named Grace Van Eyck credit administrator. CU Cooperative Branching, has promoted Mary Wolfe to assistant vice president of Service Centers and Sharlene Begnaud to Service Center network director. Corillian Corporation, an eFinance solutions provider, has named Martin Davis executive vice president, international. Countrywide Credit...

  • WEST

    Washington State Employees Credit Union, Olympia, has named Robyn LaChance marketing manager. In addition, WSECU has promoted three employees to the following positions: Dennis Karras, senior vice president for administration; Will Rance, vice president for volunteer and community relations; and Shirley Ledgerwood administrative assistant for administration. Financial Center Credit Union,...

Letters to the editor

  • CUDA wants to help volunteers assume leadership positions

    In Mike Welch's column, "Volunteers need more education, not more politics," (CU Times, Nov. 14, 2001), he talked about the Credit Union Directors of America (CUDA). I thought your readers might wish to have some additional information about the group from a volunteer professional's perspective. CUDA does not seek to...

  • Split would start damaging slippery slope

    In a recent opinion piece, NCUA Board Member Yolanda Wheat hit the mark in asserting that splitting the credit union federal insurer from its regulator would cause much more harm than good ("Splitting NCUA/NCUSIF would create new problems," (CU Times, Dec. 12, 2001). In fact, she observes that if the...

In Memoriam

  • Dan Mahoney of Chicago Patrolmen's FCU, passes

    CHICAGO - Daniel Mahoney, retired Detective CPD and retired treasurer/manager of the Chicago Patrolmen's FCU died Dec. 12. He was 73. Mahoney took over the reins of CPFCU in 1974 when it was a $5 million credit union. In 1996, he passed the baton to his son, Mark who is...

Tech Bytes

  • Digital Dialogue partners with CCCorp

    TAYLOR, Mich. - Digital Dialogue a provider of Net-enabled call center services, has partnered with credit union data processor Computer Consultants Corp. CCCorp is now a reseller of Digital Dialogue's products and services. CCCorp and Digital Dialogue have also developed a new product they will co-market. The new Shared Call...

  • First tech launches online mortgage advisor

    PORTLAND, Ore. - First Tech CU recently launched an online mortgage advisor, which it co-developed with Experion Systems. The technology helps reduce the number of mortgage options for the member down to the two or three best suited to the member's needs. "The trusted advisor model is about consistently delivering...

  • Fiserv merges RF/Spectrum into IPS-Sendero unit

    BROOKFIELD, Wis. - Fiserv Inc. announced last week it's merging RF/Spectrum Decision Science Corp. into its IPS-Sendero business unit. The new firm will operate under the IPS-Sendero name. RF/Spectrum is well known in credit union land as a provider of mortgage-decision support, and with more than 120 major lenders as...

  • Open Solutions acquires imaging solutions provider

    GLASTONBURY, Conn. - Open Solutions Inc. has added another core service for credit unions and community financials with the purchase of Imagic Corp., an Atlanta-based provider of item processing and imaging solutions. The deal involved cash and stock but terms weren't announced. Imagic has a client roster of about 200...

  • USERS and SensCom hook up

    VALLEY FORGE, Pa. - Credit union data processor USERS has formed an agreement with wireless firm SensCom to wireless-enable its PCU Internet Banking home banking piece. About 150 CUs are using USERS' PCU solution. USERS said its Connect-I.T. OFX-enabled middleware solution will simplify the interface process. SensCom has had a...

Opinion

  • Fed's amendments of HOEPA requirements bad news for predatory lenders

    Sometimes the best settlements are those that neither side likes, the idea being that the best resolution involves substantial compromises from both sides. The same can be said for the current debate surrounding predatory lending and the recent rules that the Federal Reserve Board (Fed) has issued addressing the problem....

  • Looking ahead: some predictions for 2002

    Since this is the first issue of Credit Union Times for the new year, here are my credit union predictions for 2002. As the overall economy improves throughout the next 12 months, I predict that credit unions will produce some impressive numbers in all key areas. This includes substantial growth...

News

  • Maslak makes fun

    North Island FCU President/CEO Mike Maslak wants members to have a fun, memorable experience when they visit a North Island FCU facility. Read all about it on page 20.

  • NASCUS conference worth the wait

    After two reschedulings due to date conflicts and Sept. 11's attacks, the NASCUS 2001 Annual Conference & Symposium got underway in Dana Point, Calif. Dec. 14-18. See pages 17-19.

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