Credit Union Times Magazine October-02, 2002

News Briefs

Briefs

  • Socially responsible investment confab set for Oct. 17-20

    COLORADO SPRINGS, Co. - First Affirmative Financial Network (FAFN) and the nonprofit Social Investment Forum will host the 13th annual Socially Responsible Investing in the Rockies Conference, October 17-20. SRI in the Rockies will be held at The Broadmoor in Colorado Springs and is expected to draw over 400 professionals...

  • Patelco Credit Union aligns with CUSO Financial Services for investment program

    SAN FRANCISCO - Patelco Credit Union recently signed on with CUSO Financial Services, L.P. (CFS) for investment reporting, account maintenance and support and execution of trades. CFS will also provide consulting assistance for the recruitment of licensed financial representatives and for NASD compliance on Patelco's behalf. Scott Waite, Patelco's senior...

  • Underfunded defined benefit pension plans becoming more common

    YONKERS, N.Y. - Some 44 million workers in the United States have an additional asset to their "shrinking" 401(k) retirement accounts - a defined benefit pension plan, according to a recent Consumer Reports survey/article. In contrast to the 401(k), the defined benefit plan is the sole responsibility of the employer....

Looking Back

  • Credit Union Times Vol. 5, No. 40 October 5, 1994

    Looking back eight years ago finds credit unions' community involvement questioned at a House subcommittee hearing. CUNA and NAFCU argued the need for credit unions to have a CRA-exemption. Lobbyists in Washington questioned whether the no-room-for-negotiations strategy employed by both CUNA and NAFCU would work. "I don't understand it," said...

Publisher's Column

  • Bank credo: do as we say, not as we do

    Banking industry lobbyists are a creative lot. They find a way to oppose virtually everything credit unions do. The only thing that would get bank trade group executives off the backs of credit unions would be the disappearance of credit unions from the American landscape. On the other hand, credit...

NAFCU

  • CU supporter says politics not the problem in bankruptcy reform

    WASHINGTON-Congressman Paul Kanjorski (D-Pa.), one of the original sponsors of H.R. 1151, typically favors credit union issues, but bankruptcy reform is not one of them. In fact, after his work with the credit unions, he has trouble getting the attention of the banking community, Kanjorski jested. The congressman said, "It's...

  • SBA and corporates caucus at Caucus

    WASHINGTON-The Small Business Administration (SBA) met with several credit union representatives to discuss areas where credit unions can become more involved in guaranteed-business lending and particularly how corporate credit unions can facilitate it. Delegates from NAFCU, CUNA, the Association of Corporate Credit Unions (ACCU), Empire Corporate Federal Credit Union, WesCorp,...

  • LaTourette emphasizes NCUA need to review FOM restrictions; reassures on bankruptcy reform

    WASHINGTON-Father of H.R. 1151, Congressman Steven LaTourette (R-Ohio) reemphasized the need for NCUA to utilize H.R. 1151's field of membership (FOM) provisions to the fullest extent intended by Congress. He sent a letter last week, also signed by Credit Union Membership Access Act (CUMAA) co-sponsor Paul Kanjorski, encouraging NCUA Board...

  • Frank applauds CU leaders coming to Washington

    WASHINGTON-In a speech to attendees of NAFCU's Congressional Caucus, House Financial Services second Ranking Member Barney Frank (D-Mass.) commended credit unions' grassroots work, as well as their everyday efforts to serve the masses. Frank is expected to become the ranking member of the committee, or possibly the chairman as the...

  • NSC partners with Prime Alliance as NAFCU/ Fannie Mae pact enters phase two

    WASHINGTON-Fannie Mae Vice Chair Jamie Gorelick announced last week that the alliance between NAFCU and Fannie Mae is moving onto stage two, which will help smaller credit unions participate in mortgage lending. NAFCU and Fannie Mae first announced their alliance in July during NAFCU's annual conference. Gorelick told attendees of...

  • Gekas encourages credit unions to continue `full court press' on bankruptcy

    WASHINGTON-At NAFCU's Congressional Caucus last week, Congressman George Gekas (R-Pa.), author of the bankruptcy abuse reform bill in the House, urged credit unions to continue their "full court press" lobbying efforts on behalf of the seemingly star-crossed legislation. Gekas is facing a tight race in his congressional district and the...

  • Johnson reminds CU officials they are the educators on eve of Hill visits

    WASHINGTON-As a former state senator, NCUA Board Member JoAnn Johnson told credit union officials not to be intimidated by meeting with lawmakers and their staff as they descend upon Capitol Hill during NAFCU's Congressional Caucus. "Believe me, you know more about credit unions than they do," she said in trying...

  • Studying up on NAFCU issues

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  • Oxley touts Reg Relief at Congressional Caucus

    WASHINGTON-House Financial Services Committee Chairman Mike Oxley (R-Ohio) encouraged credit unions that the fight has just begun in getting the Financial Services Regulatory Relief Act through the lawmaking process. Though Representative Shelley Moore Capito (R-W.V.) introduced the bill, Oxley has been the key player shepherding the bill, H.R. 3951, through...

  • Dollar focuses on change in Caucus speech

    WASHINGTON-NCUA Chairman Dennis Dollar hit on the theme of change in his speech to attendees of NAFCU's Congressional Caucus last week at the Grand Hyatt in Washington. Change, as he indicated, has generally served the credit union community well. In reviewing alterations to the credit union community in recent years,...

  • Bankruptcy conference chairman tells FCUs to keep up the drumbeat on the Hill

    WASHINGTON-The message credit unions need to continue on the Hill with regard to bankruptcy reform is simple, according to Judiciary Committee Chairman Jim Sensenbrenner (R-Wis.): "We want a law." He also serves as the bankruptcy conference committee chairman. "After five years of considering bankruptcy, the time has come to enact...

  • Treasury's new financial education official explains agency's efforts

    WASHINGTON-Treasury Financial Education Deputy Secretary Judy Chapa told attendees of NAFCU's Congressional Caucus last week that the increasing complexity of the financial services market breeds a greater need for financial education to understand all available financial services options. "It means that Americans need to be fully prepared and financially educated...

News

Opinion

Letters to the editor

  • ICU Day spirit alive and well

    I was interested to read Mike Welch's take on International Credit Union Day and the lack of enthusiasm many in our movement show ("Hired guns, single sponsors, ICU Day, and more", CU Times, Sept. 4, 2002). I want you to know that there are still some of us who believe...

  • NCUA right to protect NCUSIF

    I read with interest the recent comments of Jerrie Lattimore, NASCUS Chairperson and Administrator of the North Carolina Credit Union Division. During NASCUS' Annual Conference, Mrs. Lattimore asserted that "NCUA uses insurance as an excuse to regulate state credit unions." I am not well positioned to determine the complete accuracy...

People

  • VENDORS

    William Mills Agency, a public relations firm, has named Cristi Tucker, Howard Franklin and Elizabeth Salter account managers. TNB Card Services, a card services solutions provider, has named Joe Vautrin vice president/manager of credit and collections for the new Agent Issuer Program. Irwin Mortgage, a mortgage solutions provider, has named...

  • WEST

    Columbia Credit Union, Vancouver, Wash., has named Barbara Carlson Riverstone branch manager; Sabrina Riggins outside loan officer; and Stephen Dick outside loan officer. Mission Federal Credit Union, San Deigo, has promoted Dan Colt to vice president of technology. In addition, Mission FCU has named Rebecca Witby Mission Investments manager. Nevada...

  • EAST

    Chartway Federal Credit Union, Virginia Beach, Va., has named Robert Smith director of mortgages. Mid-Hudson Valley Federal Credit Union, Kingston, N.Y., has promoted David Perry to associate vice president of branch operations and Yolanda Lanari to associate vice president of consumer lending.

  • SOUTHWEST

    San Antonio Federal Credit Union, Texas, has named George Burrus first vice president; Phyllis Gregory, assistant vice president; and Deborah L. Stewart assistant vice president.

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