Credit Union Times Magazine January-23, 2002

  • 10% loss `worst case' scenario for credit unions, banks affected by sale of bogus CDs, regulators foresee

    FRANKFORT, Ky. - Nearly three months after Bentley Financial Services was sued by the Securities Exchange Commission for investment fraud, credit unions affected continue to reassure members that their money is insured and capital numbers are solid enough to weather the outcome. Robert Bentley, owner of BFS and Entrust Groups...

  • ABA's Leggett to debate CUNA's Hampel at CCUL Big Valley Conference

    RANCHO CUCAMONGA, Calif. - Bill Hampel, chief economist at CUNA will debate outspoken credit union critic Keith Leggett, senior economist for the ABA on credit union field-of-membership, taxation, community reinvestment and alternative capital at the California Credit Union League's Big Valley Educational conference, March 14-16. Sessions will also be held...

  • Bank Exchange president denies reports of unlicensed credit unions operating in U.S.

    MISSOULA, Mont. - In response to a Jan. 7 UPI Newswire report that The Bank Exchange, LLC was operating unlicensed credit unions in the U.S., the company's president, Dale Erickson, said the statement is not true. Erickson recently spoke to Credit Union Times to clarify that the six credit unions...

  • Bug steps onto financial playing field

    DETROIT - First the beetle and now a bank. Joining the ranks of companies like BMW and Nordstrom Inc., Volkswagen has begun offering banking services to its customers. Insured by the Federal Deposit Insurance Corporation, the bank will start slowly by offering auto and home loans to Volkswagen and Audi...

  • CU groups meet with Financial Services staff on Oxley's reg relief bill

    WASHINGTON-CUNA, NAFCU, and other financial services interest groups met last week with House Financial Services staff about the regulatory relief package that Chairman Mike Oxley (R-Ohio) tried to jumpstart last fall. Reg relief issues were placed on the back burner following the attacks of September 11. However, the House Financial...

  • CU reserve transfer bill introduced in Va. legislature

    RICHMOND, Va. - Delegate Preston Bryant (R-23) introduced a bill that would give state-chartered credit unions the same requirements for reserve transfers as federal credit unions. The State Corporation Commission already approved a regulation that gives state-chartered credit unions parity with FCUs with regard to reserve transfer requirements. Bryant's measure...

  • CUNA, SBA officials confer on SBA opportunities for CUs

    WASHINGTON - CUNA's John McKechnie, vice president, legislative affairs, and Mary Dunn, senior vice president, associate general counsel for regulatory advocacy met with Executive Director John Whitmore and Acting Associate Deputy Administrator Jeanne Sclator from the Small Business Administration January 15 to provide the SBA with solutions that will allow...

  • CUNA offering its first Hawaiian cruise conference

    MADISON, Wis. - Credit union volunteers can now say "Aloha" while registering for the CUNA Center for Professional Development Volunteer Leadership Institute conference. The conference takes place during a Hawaiian cruise. In addition, a meeting space will be made available for credit unions to conduct their annual planning sessions. Participants...

  • Connecticut banking commissioner meets with General Assembly committee on CU modernization act

    HARTFORD, Conn. - Count Connecticut among the states with rewritten credit union acts working their way through the state legislature. Commissioner John Burke, Connecticut Department of Banking met January 22 with the chairman of the General Assembly Banking Committee on the commissioner's proposed "Act Concerning Credit Union Modernization." Gov. John...

  • Credit Union ONE treated to "Command Performance"

    FERNDALE, Mich. - One hundred members of the Ferndale High School Marching Band have recently serenaded Credit Union ONE. For 15 minutes, the band treated CU ONE members and staff to a selection of jazz melodies ranging from Chick Corea's Bird Land to Chuck Mangione's Land of Make Believe. As...

  • Dollar goes solo; no dividend for '01

    While presidential nominations are still waiting to be confirmed for the two vacant NCUA Board spots, NCUA Chairman Dennis Dollar was the sole member for the January meeting. The chairman decided to postpone most of the agenda items, but there was big news concerning the NCUSIF. Turn to page 32...

  • Dollar holds historic one-member board meeting; no NCUSIF dividend for'01

    ALEXANDRIA, Va.-While NCUA Chairman Dennis Dollar made it clear that he had the authority to act on agenda items at the January Board meeting, he explained that he felt it inappropriate to cast any votes as the lone board member. The Bush administration has yet to make recess appointments for...

  • Dollar tells Northern Va. CUs not to worry about having just one NCUA Board member; reviews agency accomplishments

    FAIRFAX, Va.-In a recent speech to the Northern Virginia Chapter of Credit Unions, NCUA Chairman Dennis Dollar reassured attendees that even with one board member, the agency was up and fully functioning. He has been the sole board member since December 21 of last year when YolandaWheat was told by...

  • Examiners can perform off-site exams at small banks

    WASHINGTON-The Federal Reserve Board Director of Bank Supervision Richard Spillenkothen wrote in a letter last week that banks with less than $1 billion in assets may undergo off-site examinations rather than having Fed examiners come into the bank for reviews. The practice is aimed at "more effective use of targeted...

  • Fed's Meyer resigns

    WASHINGTON-After serving nearly six years on the Federal Reserve Board, Board Governor Lawrence Meyer, 57, resigned effective January 31. As is common practice, he will not participate in the Federal Open Market Committee meeting January 29-30. "During my term here, we have seen remarkable developments, both in the economy and...

  • Financial Modernization 2001 high on agenda for Wisconsin league's GAC

    PEWAUKEE, Wis. - Discussions on the Financial Modernization 2001 bill, compromise legislation supported by credit unions, the Wisconsin Bankers Association and the Community Bankers of Wisconsin, will headline the agenda at the Wisconsin Credit Union League's upcoming Government Affairs Conference, January 30-31. The legislation, Assembly Bill 299, was passed by...

  • From coast-to-coast credit unions working to keep Kanjorski in office

    WASHINGTON- The possibility of credit union-friendly Congressman Paul Kanjorski (D-Pa.) losing his congressional seat does not sit well with credit unions, so some are reaching into their own pockets to prevent that from happening this year. Following the completion of the most recent Census data, many states were forced to...

  • Jeanne D'Arc Credit Union CU celebrates 90th

    LOWELL, Mass. - Jeanne D'Arc Credit Union is celebrating its 90th anniversary by providing members with reduced ticket prices for an upcoming Lowell Lockmonsters hockey game. Members can receive the discount simply by showing their Jeanne D'Arc Credit Union debit card, passbook or anything that has Jeanne D'Arc Credit Union...

  • Latino Community Credit Union educating Hispanics about predatory lending

    DURHAM, N.C. - North Carolina's rapidly growing Hispanic population has boosted membership in Latino Community Credit Union beyond expectations. It has also created a need to educate the Hispanic community about the dangers of predatory lending. So LCCU is tackling the job. The effort includes distributing 10,000 copies of "Get...

  • Missouri Corp. CU returning $126,000 to member CUs

    ST. LOUIS - Missouri Corporate CU has declared a bonus dividend of $126,000 to be paid to its member credit unions at the end of fiscal year 2001. The corporate said while it had been accruing money all year with plans of declaring a bonus dividend, it unexpectedly received a...

  • NAFCU notes increased efficiency in NCUA SEG approvals

    WASHINGTON-In a recent letter, NAFCU praised NCUA's efforts to streamline the select employee group (SEG) approval process and noted the agency's successes. Agency efficiency has been the hallmark of NCUA Chairman Dennis Dollar's time in the head position and credit unions have been highly receptive to the idea. "In bringing...

  • NSC's Current Preferred Partners

    Allied Solutions - Collateral Protection Insurance, GAP and MBI American Express - Travelers Cheques AVIS - Car Rental (may soon be moved to another NAFCU program) Benefits Consultants, Inc. - Accidental Death & Dismemberment New York Life and BENMARK - Credit Union Executive Retirement Program Deluxe Financial Services - Paper...

  • New CUSO to serve members of Hawaii's largest credit union

    HONOLULU - Hawaii State FCU is hoping its new CUSO will woo members who need help planning for the long term. Hawaii State Financial Services, LLC (HSFS) recently became incorporated and plans to open its door by August, said Mark Tit Mun Chun, chairman of the CUSO and vice chairman...

  • New year can be expected to bring another round of cyber-challenges

    COLUMBIA, S.C. - As holiday celebrations fade, here's a sobering thought for the New Year: While credit unions and their members move more of their financial lives onto the Web, some leading Internet security experts say breaches, worms, viruses and others attacks will only increase. In fact, says John Pescatore...

  • Nolan hopes revamped Preferred Provider Program will bring some value back to NAFCU Services Corp.

    ARLINGTON, Va. - Having taken over NAFCU Services Corp. as CEO last April, the honeymoon is just about over for Keith Nolan, and the time to get results is here. He's OK with that because he says he's been working feverishly since joining NSC to revamp what he admits has...

  • Northwest FCU branch lures members and staff alike

    HERNDON, Va. - Serving the employees and family members of the Central Intelligence Agency and other federal government agencies, Northwest Federal Credit Union went looking to attract a few good employees. So a recent remodeling project has transformed the $700 million credit union into a state-of-the-art facility complete with lots...

  • Parkway Financial joins with NJDOT in first-of-its-kind merger in New Jersey

    EWING, New Jersey - In what will be the first merger of its kind in the Garden State, New Jersey Department of Transportation Credit Union (NJDOT) (CU Times, Jan. 16), a state-chartered multi-common bond institution, is merging with Parkway Financial Federal Credit Union, which has a community field of membership....

  • Recodified state CU acts on tap for 2002

    WEST PALM BEACH, Fla. - Credit unions saw a flurry of activity on the state scene last year - leagues counted more than 800 pieces of legislation they worked on that could have an effect on credit union operations. So what's in store for 2002? Expect no let up in,...

  • Richard Rays wonders if there's a better alternative to "credit union"

    WASHINGTON TOWNSHIP, N.J. - Does the term "credit union" scare away some potential members or SEGs? Is it too confusing for today's financial marketplace? These are some of the questions being raised by Paragon FCU President/CEO Richard Rays. In a letter sent to the CEOs of major credit union trade...

  • Russert to speak at Empire's Economic Forum

    ALBANY, N.Y. - Credit union groups are getting big-time speakers these days. Tim Russert, of NBC's Meet the Press, will be a featured speaker at Empire Corporate FCU's upcoming Economic Forum. The Forum will be held in early April.

  • SAFE CU, Ben Stein partnership made in heaven

    NORTH HIGHLANDS, Calif. - Forget "Bueller.Bueller" these days Ben Stein is saying, "Bank at SAFE Credit Union" all over the radio stations here. "After a significant brand study in 2001 we decided our CU brand direction would be to build our middle market while not alienating our existing members," said...

  • Shapiro Group provides more than $49,000 in aid to small CUs in 2001

    RANCHO CUCAMONGA, Calif. - The California Credit Union League's Shapiro Group which provides special assistance to league-member CUs under $23 million in assets, provided $49,401 in grants to smaller CUs in California and Nevada in 2001. The monies were used to aid in technology purchases, policy and strategic planning, and...

  • Six CEOs are picked to join Filene Council

    MADISON, Wis. - The Filene Research Institute has filled six new members of its Research Council, the policy making body for directing management research projects for the industry in 2002. Appointed earlier this month to serve three-year terms are: David Brock, CEO, Community Educators' Credit Union, Rockledge, Fla.; W. Craig...

  • Virginia SCC to reorganize

    RICHMOND, Va. - State Senator Thomas Norment Jr. (R-James City) has introduced a bill that would increase the size of the State Corporation Commission (SCC) from three to five members. The announced changes are partly in response to the findings of two studies of the agency conducted last year. Most...

  • Virginia league Internet service provider hacked

    RICHMOND, Va. - The Virginia Credit Union League's Web site was down all day January 15 as a result of its Internet service provider being hacked. League spokesperson Donna St. Clair said the hacking also affected about 120 other local companies serviced by the Web hosting provider. "We were one...

  • What spurred Buckeye State CU to sell card portfolio; credit union portfolios have "affinity" appeal to card issuers

    PORTLAND, Ore - Yet another credit union has sold off its credit card portfolio. The $57 million Buckeye State Credit Union of Akron, Ohio sold its $4 million credit card portfolio to MBNA. MBNA has been very active in the credit union market acquiring portfolios. AssetExchange, Portland, Ore., facilitated the...

  • Who to contact

    Receiver: David Marion, Esquire McCracken, Walker & Rhoades LLP Phone: (215) 772-7434 Fax: (215) 731-3641 Web site: www.bfscorp.net Request: Credit unions should submit copies of all BFS, Entrust or Robert Bentley paperwork to: David Marion, Receiver P.O. Box 22473 Philadelphia, Pa. 19110-2473 Date: A full accounting is expected on or...

  • Woodward to keynote at NAFCU's upcoming CEO Conference

    TUCSON, Ariz. - Bob Woodward, known best for his investigative reporting with Carl Bernstein on the Watergate scandal, will keynote NAFCU's upcoming CEO Conference. The CEO Conference is scheduled to be held from Jan. 23-25 at the La Paloma resort in Tucson. NCUA Chairman Dennis Dollar will also speak at...

News

  • A BIG TARGET

    Of course, Microsoft is the biggest of targets for computer criminals. But it's not just size that's the issue here, Butler says. "Microsoft's leadership extends its operating system into realms previously untrod by others," he says. For instance, "UNIX has no plug-and-play equivalent," says Butler, whose own company has worked...

  • A DAILY CHALLENGE

    Tom Ha sees the challenges grow daily. "Staying up to date on firewalls and anti-virus software is critical to a good operation," says the information systems manager at AmeriChoice FCU, a $70 million, 11,000-member organization in Mechanicsburg, Pa. "Money in accounts is really just another form of data, the real,...

  • A look ahead for EBP

    In 1999, many experts theorized that electronic bill payment and presentment (EBPP) would surge in popularity by the end of that year, with the advent of electronic bill presentment spurring the growth. EBPP would become a must have service that would attract new members and keep existing members from moving...

  • CONSUMER DEMAND

    So what's going to definitively turn the tide? That old reliable of American capitalism: consumer demand. Mackelprang, the security chief at Digital Insight, feels that security and stability are going to have to be as valued as bells and whistles to the customer, whether it be Joe Consumer buying Windows...

  • Corillian at-a-glance

    End-users: 4 million Clients: 56 CU clients: 21 CU clients with over $1 billion in assets: Desert Schools CU, Ent FCU, The Golden 1 CU, HP Employees CU, Mission FCU, United Airlines CU, Suncoast Schools FCU. SOURCE: Corillian

  • Corillian's entrance into small to mid-sized CU market sets stage for battle with Digital Insight

    BEAVERTON, Ore. - Corillian is picking a fight with Digital Insight, and it's not shy about it. The two Internet services firms focusing on financial institutions may see more of each other in competitive situations as Corillian said it plans to go full-force after Digital Insight's market segment, primarily small...

  • Digital Insight at-a-glance

    End-users: 2.2 million Clients: 1,385 CU clients: 600+ CU clients with over $1 billion in assets: Star One CU, ESL FCU, Lockheed FCU, Atlanta Postal CU, Portland Teachers CU, Teachers CU, Community CU. SOURCE: Digital Insight

  • Digital Insight co-founder Paul Fiore now a restauranteur?

    BEVERLY HILLS, Calif. - From bits and bytes at credit unions to dinner and dessert in Beverly Hills. Digital Insight co-founder Paul Fiore, who is still a director with DI, is a one-third owner in Chadwick of Beverly Hills, an upscale restaurant opened a year and a month ago. Chadwick's...

  • GROWING CAPABILITIES

    Froehlich's approach is what the industry sees happening more and more, using technology to supplement the interaction that's required for many types of learning. A PowerPoint slide delivered over the Internet is just that, a PowerPoint slide, and it can't replace human interaction, but the art of Internet training is...

  • `Golden Age of Hacking' brings new life to old terms, some new ones

    Calling someone a hacker used to be almost a compliment, or at least a begrudging recognition of his intelligence and ability to crack into computer systems. But that was before cyber-terrorism joined the physical kind as a fact of life for us all. Just as those threats have changed and...

  • HP announces five-year transition plan for workhorse business box

    COLUMBIA, S.C. - When Hewlett-Packard announced the end of the line for the senior citizen of its business-computing line, users likely took notice. After nearly 30 years of service, HP says it will quit selling its workhorse e3000 systems in 2003 and end full support of them in 2006. In...

  • Hobko said there was strong business case for Sunstar to hook up structurally with CUNA

    TAMPA, Fla. - CUNA's for-profit arm, now known as CUNA Strategic Services, Inc., has had its share of business failures over the years, but CUNA Network Services President John Hobko said the strategy CSSI has taken with CNS is the polar opposite of yesteryear. Hobko is one of the founders...

  • Indiana CU bills introduced in state legislature

    INDIANAPOLIS - The Indiana Credit Union League is facing a short, three-month state legislative session to see three league-supported bills passed by the state legislature before it adjourns March 14. House Bill 1140 and Senate Bill 202 are identical bills that would amend the state's field-of-membership law to allow credit...

  • Internet delivery can take byte out of training costs, but human touch lost

    CU Times Technology Correspondent COLUMBIA, S.C. - A major benefit of the Internet revolution for credit unions is the growing ability to provide a vast array of training across a far-flung operation, and do it consistently and efficiently. Lenore Froehlich knows that, and that's why Motorola Employees Credit Union-West is...

  • Irish credit unions make a smooth transition to the Euro

    BALBRIGGAN, Ireland - The Republic of Ireland, the only European country with credit unions directly affected by the Euro, made a smooth transition to the new currency, with a few bumps and some laughs along the way. England, Scotland, Wales and Northern Ireland have stayed with the English pound, claiming...

  • NEW WAVE - `WEBINARS'

    One way technology is combining the human element with the strengths of the Internet are "webinars" - which typically involve a meeting room, a PC and a projector, along with someone at the other end making the presentation as if it were a live remote on television, only with some...

  • New York Gov. Pataki indicates support for CU-friendly state issues

    ALBANY, N.Y. - Gov. George Pataki in his Jan. 9th State of the State address, mentioned and indicated his support of two issues high on credit unions' agenda. In a discussion of what small business owners in New York State "need to grow and prosper," Pataki said the state will...

  • PROTECTING THE SYSTEM

    The UPnP problem was discovered by a young California computer whiz, a 21-year-old reformed hacker whose company, eEye Digital Security (www.eeye.com), held off announcing it until Microsoft could prepare a fix. It's that kind of cooperation that makes the whole thing work, Butler points out. "Servers are exposed to the...

  • SPECIAL REPORT: Data Processing & Technology

    Is there a Net banking vendor fight brewing in CU land? Read about this and other tech news in the Data Processing & Technology Special Report on pages 18-28.

  • Secure?: Will operating securely on the Net get tougher or easier in 2002?

    COLUMBIA, S.C. - As holiday celebrations fade, here's a sobering thought for the New Year: While credit unions and their members move more of their financial lives onto the Web, some leading Internet security experts say breaches, worms, viruses and others attacks will only increase. In fact, says John Pescatore...

  • Security flaws exposed and patched; opinions divided

    COLUMBIA, S.C. - In the weeks since Microsoft launched its newest operating system with assertions that it's the most secure thing yet, serious breaches have been discovered, including the latest, which was severe enough that the federal government is recommending a key XP feature be disabled. That would be the...

  • Study shows Americans continue to flock online, with reservations

    LOS ANGELES - A recent report on Internet use from a major research university can tell decision makers a lot about those who matter most to the nation's credit unions - individual households and the consumers living there. The study is the UCLA Internet Report 2001 - "Surveying the Digital...

  • Taking stock of Liberty Cavion one year after acquisition; client base up to 130

    DENVER - Internet solutions firm Cavion and check printer giant Liberty made headlines frequently around this time last year as Liberty was making a bid to acquire the bankrupt Cavion. On Feb. 17 it will be exactly one year since Liberty acquired Cavion for about $650,000. The deal with Liberty...

  • Virginia league tracking payday lending measure

    RICHMOND, Va. - The Virginia Credit Union League is following a bill-H.B. 940-introduced January 9 by Del. Harvey Morgan (R-98) that establishes requirements for conducting payday lending. Among the bill's provisions, it caps the fee that a payday lender can charge at $15 per $100 advanced to the borrower; the...

  • Washington league to hold hearing on proposed FOM rule change

    FEDERAL WAY, Wash. - The Washington Credit Union League scheduled a hearing during its government affairs conference, on a proposed field-of-membership regulation change that would allow well-run CUs to expand their field-of-membership by a board vote instead of requiring them to receive approval from the state regulator. Parker Cann, director...

  • Win Ben Stein's `attention'?

    Find out how SAFE CU was able to get popular game show host Ben Stein to market the credit union. See story on page 16.

In Other News

  • AWARDS

    Charter Oak Federal Credit Union, Groton, Conn., has been presented the Chairman's Award of Excellence for the second consecutive year by the United Way of Southeastern Connecticut. Charter Oak FCU raised $35,000 toward the 2001 campaign, representing a 16% increase over last year. In addition, 92% of employees participated in...

  • BRANCHING OUT

    Saratoga's Community Federal Credit Union, N.Y., has officially re-opened its doors with a ribbon-cutting ceremony featuring City of Saratoga Springs Mayor Kenneth Klotz and SCFCU CEO Charles Folensbee. Also on hand for the opening were Saratoga Chamber President Joseph Dalton, Saratoga Springs City School District Superintendent John MacFadden and League...

  • NAME CHANGES

    National Semiconductor Federal Credit Union, Sunnyvale, Calif., has changed its name to National 1st Federal Credit Union.

Tech Bytes

  • About 500 CUs reserve 800 .coop domain names

    WASHINGTON - According to the National Cooperative Business Association, about 500 credit unions have reserved some 800 new .coop domain names. Credit unions were given an opportunity to reserve .coop names prior to the official Jan. 30 launch date when any co-op will be able to purchase a .coop domain...

  • CUNA Mutual/HomeBank Technologies in Web origination agreement

    MADISON, Wis. and TORONTO, Ontario - CUNA Mutual Group and HomeBank Technologies Inc. have formed an agreement related to Web-based loan origination. Under the agreement, CUNA Mutual will aid HomeBank Technologies in the development of a U.S. version of its ProLender loan origination system. The Web-based ProLender system will allow...

  • CUSA Technologies' latest release of its loan origination system

    SALT LAKE CITY - Credit union data processor CUSA Technologies, a Fiserv subsidiary, has released Loan Workstation 3.0, a loan origination system integrated with CUSA's management systems. LWS 3.0 allows clients to capture electronic signatures through the system's Loan Signature Pad, which secures and stores signatures in a digital loan...

  • Call_Solutions.com makes its 10th acquisition

    WAUKESHA, Wis. - Call center firm Call_Solutions.com has made its 10th acquisition. That's 10 acquisitions in less than two years of being in business. Call_Solutions.com, founded in August 2000, has acquired CTC Teleservices, an inbound/outbound telemarketing service headquartered in Oak Brook, Ill. CTC's broad client list includes B2B marketers focused...

  • Cavion brings up "warm site"

    ENGLEWOOD, Colo. - Liberty Cavion has entered into a contract with a major telecom provider to host a "warm site" so its mission-critical telecommunication services are available in the event of a disaster. Liberty Cavion now has a redundant telco connection live from the backup data center to the Internet...

  • Counter Intelligence Associates making room for Web cast studio

    SAN JUAN CAPISTRANO, Calif. - Counter Intelligence Associates, which started hosting CU Web casts in 2001, now says it is planning to build a dedicated Web cast studio. The 1,700 square-foot studio will be adjacent to its current offices and studio in San Juan Capistrano, Calif. It will house CIA's...

  • FORUM Solutions and CSC Credit Services in marketing agreement

    INDIANAPOLIS - FORUM Solutions, a wholly-owned software development CUSO of Indianapolis-based, $525 million FORUM Credit Union, has entered into a marketing agreement with CSC Credit Services, a division of consulting/IT firm Computer Sciences Corporation. FORUM Solutions' primary product right now is its "TAPS" (Total Account Processing System) home banking and...

  • RDS using Web educational sessions

    INDIANAPOLIS - Credit union data processor re:Member Data Services (RDS) has launched a new Web-based education series designed to help CUs get a better understanding of the business applications of its new software features. "Business Application Series," sessions are free, and RDS hopes it will help credit unions think through...

Publisher's Column

  • CEOs and boards must know their place

    Almost every staff job in today's credit unions is getting more difficult, but none more so than the CEO's. For starters, credit union CEOs of today must have hands-on experience, be well-educated, be master delegators, be risk takers, be capable of setting and sticking to priorities, be technologically savvy, people...

News Briefs

  • CUNA, WOCCU meet with White House official on CU issues

    WASHINGTON-Several CUNA and WOCCU officials met with Special Assistant to the President on Economic Policy Pippa Malmgren to discuss credit union issues domestic and abroad. Congress recently appropriated up to $2 million to WOCCU through the U.S. Agency for International Development (US AID) for economic development projects in South Africa...

  • Credit Union ONE offers stock diversity to members via CUStockFund.com

    FERNDALE, Mich. - Members of Credit Union ONE wanting a more hands-on approach to the type of investments they secure now have access to a stock-building program. Credit Union ONE recently partnered with Online Investments, Inc. to offer its members CUStockFund.com, a private-label online stock purchasing service. An annual fee...

  • Credit union community charter conversions continue

    ALEXANDRIA, Va.-According to NCUA's most recent report of actions delegated to the regions, federal credit unions are continuing to flock to the community charter. Federals also added more than two million of the highly trumpeted record 16.1 million new potential members in underserved areas in 2001 during the month of...

  • Nebraska league to deliver "Standing for America" thank-you's to lawmakers

    OMAHA, Neb. - The Nebraska Credit Union League, in a show of appreciation to state lawmakers in Washington, D.C. for their performance and leadership efforts since September 11th's tragedy, plans to hand-deliver specially-designed "Standing for America" cards and plaques to each of the state's lawmakers on Capitol Hill during CUNA's...

  • Ogata retiring from HawaiiUSA FCU

    HONOLULU - HawaiiUSA FCU President/CEO Ron Ogata has announced his retirement from the credit union effective January 18, 2002. Ogata has served in the position since 1988, during which time the CU's assets have more than doubled, and membership has tripled. At $440 million in assets, HawaiiUSA FCU is the...

  • Pennsylvania league lines up behind CAP repeal

    HARRISBURG, Pa. - Pennsylvania Credit Union League Chairman John Kebles, president/CEO, Choice One FCU in Wilkes-Barre sent a letter to the NCUA Board expressing the league's support for the repeal of the community action plan for federal community credit unions, and demonstrating the lack of need for the regulation. In...

  • Primedia Workplace Learning launches credit union training company

    ST. LOUIS - Primedia Workplace Learning, a leading provider of integrated learning solutions for professionals in the banking, automotive, healthcare industries, among others, and its Bankers Training & Consulting Company have launched a credit union training division. The new division will focus on training programs specifically targeted to the credit...

Looking Back

  • Credit Union Times Vol. 7, No. 4 January 24, 1996

    Looking back six years ago finds credit unions in Colorado and Iowa fending off banker attacks on field of membership expansions and taxation. Five banks and two bank trade associations didn't even let the new year ring in before filing an appeal of a community field of membership expansion granted...

Letters to the editor

  • Prediction off the mark

    I always enjoy reading predictions-some are usable in future planning and others are just wild guesses. Mike Welch's January 2002 "Predictions" column takes yet another swing at the Renaissance Commission ("CUNA will enjoy a number of legislative successes, but not under the umbrella of the Renaissance Commission..."), a development that...

In Memoriam

  • RCU Founder John Thompson passes away

    EAU CLAIRE, Wis. - At the age of 82, Royal Credit Union founder John Thompson has passed away. Realizing that the employees of Uniroyal needed convenient financial services, Thompson got RCU off the ground in a small office right in the Uniroyal plant. As the second employee hired in those...

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