Credit Union Times Magazine August-06, 2003

News

In Other News

  • SCHOLARSHIPS

    Chetco Federal Credit Union, Harbor, Ore., has awarded a total of $40,500 to several lucky high school scholarship recipients. This year's winners include Brian Seward, Robert Morin, Audra Loeber, Lena Hawthorne, Anthony Pagano, Katrina Parke, Cynthia Ramirez Salazar and Candace Fugate. Saugus Federal Credit Union, Mass., has awarded three high...

News Briefs

  • AACUC Honors Past, Present and Future at Annual Meeting in Motown

    DETROIT - This year's African American Credit Union Coalition conference here is expected to top last year's attendance mark, with a number of industry notables scheduled to speak including Pete Crear, CUNA & Affiliates' Executive Vice President and Chief Operating Officer, who will also receive the Coalition's first AACUC Lifetime...

  • NCUA Announces MBL PALS Workshop Details

    ALEXANDRIA, Va.-NCUA announced the registration and agenda information for its next Partnering and Leadership Successes conference on member business lending slated for Oct. 16 in Washington, D.C. The free, all-day session includes a long list of credit union community officials and others who are well-versed on business lending, including Small...

  • Baseball Legend Joe Torre to be Opening Speaker for New Jersey League Convention

    HIGHTSTOWN, N.J. - Baseball legend and New York Yankees manager Joe Torre will kick-off the New Jersey Credit Union League's Annual Meeting & Convention in November. The theme of the two-day meeting and convention, Nov. 21-22 at the Bally's Hotel in Atlantic City, will be "Celebrating You" recognizing credit unions...

  • CUDL Expands to Minnesota and Virginia

    RANCHO CUCAMONGA, Calif. - Add Minnesota and Virginia to the growing list of states with credit unions participating in the Credit Union Direct Lending network. The addition of Minnesota and Virginia means there are now 11 states in the CUDL network serving more than 260 credit unions and 1,980 dealerships....

  • NCUA Issues Guidance on Non-Maturity Shares

    ALEXANDRIA, Va.-NCUA issued a Letter to Credit Unions (03-CU-11) last week to help credit unions manage risk associated with non-maturity shares. The agency emphasized that it merely wants to create a best practices framework to guide credit unions, and not micromanage. "Understanding the behavior of non-maturity shares is integral to...

  • CUNA Mutual, PPS in Fraud Fight Together

    MADISON, Wis. - CUNA Mutual Group has teamed up with Scottsdale, Arizona-based risk management provider Primary Payment Systems (PPS) to help credit unions reduce check fraud. The partnership comes in response to the continuing rising trend of fraud and identity theft. According to CUNA Mutual Vice President Al Stendahl, the...

  • VA-HUD Appropriation Passes House

    WASHINGTON-The House passed the Veterans Affairs, Housing and Urban Development and Independent Agencies Appropriations Act, 2004 (H.R. 2861) by a vote of 316-109. The legislation is home to funding for the Community Development Financial Institutions Fund and the Community Development Revolving Loan Fund. It also sets the borrowing authority cap...

Tech Bytes

  • Corillian Closes the GAAP: Reports First Quarter in the Black

    PORTLAND, Ore. - Corillian Corp. beat the Street with a record profitable quarter for the three months ending June 30, the Internet banking vendor said. The company had net income of $1.8 million, or 5 cents per diluted share. First Call's consensus estimate for the Nasdaq-traded stock had been a...

  • OSI Adds Addison Avenue to List of Big CU Core Processing Clients

    GLASTONBURY, Conn. - Open Solutions Inc. has snagged another big credit union client for its transaction and integration processing services. Addison Avenue FCU, a 123,000-member institution based in Palo Alto, Calif., will use OSI's open architecture The Complete Credit Union Solution and CRM/business intelligence solutions, as well as consumer and...

  • NY CU Foundation Debuts on Web

    LATHAM, N.Y. - The New York Credit Union Foundation (NYCUF) has nestled comfortably into its new home on the Web. Designed as a resource, the site can be accessed at both www.nycuf.coop and www.nycuf.org. The site features general information on the Foundation, grants, scholarships, disaster relief and the Community Investment...

  • Banking `Futurist' Edward E. Furash Joins ORCC Board

    McLEAN, Va. - Online Resources Corp. has named Internet financial services pioneer Edward E. Furash to ORCC's board of directors. Furash, who made his name as a consultant and for his work during the S&L crisis of the 1980's, is the founder and recently retired chairman/CEO of Treasury Bank, an...

  • Navy Federal CU Takes PR Online, Ranked a Tech-Savvy Lender

    VIENNA, Va. - Navy Federal Credit Union has simplified its media relations by revamping its Public Relations Web site. Navy Federal uses the site to deliver timely news and information to the media The latest feature is the credit union's "commentary on the issue", including commentary letters to NCUA, other...

  • CU Village Takes Aim at Young Adults

    NORTHVILLE TOWNSHIP, Mich.-CU Village has stepped up its efforts to help young adults from age 15 to 18 make savvy financial decisions with the launch of its Young Adults Web site. With a theme of "It's Your Life.Are You Ready?" the site introduces such topics as building good credit and...

  • DI Rides Online Banking Growth to Record Quarter

    CALABASAS, Calif. - Digital Insight Corp. said that the continued growth in online banking helped the e-commerce vendor notch record results in the second quarter of 2003. The provider of online banking services to more than 1,100 institutions recorded record net income of $37.3 million in the quarter ended June...

Special Report

  • Mid-States' PIC Offering Hits $69 Million

    WARRENVILLE, Ill. - Corporates lobbied NCUA to grandfather in and extend the time period to be able to offer Paid in Capital and they are taking advantage of it. The $4.5 billion Mid-States Corporate FCU's PIC offering reached $69 million. More than $16 million in new capital was generated and...

  • VolCorp Hosts NCUA Leaders

    NASHVILLE - During a recent visit to Nashville all three NCUA Board members -Chairman Dennis Dollar, Vice Chairman JoAnn Johnson and Deborah Matz - and some NCUA staffers took time to visit with the $1.3 billion Volunteer Corporate, the corporate for Tennessee credit unions. The NCUA leaders were given an...

  • Matz Visits WesCorp

    SAN DIMAS, Calif. - NCUA Board member Deborah Matz visited WesCorp's headquarters recently, the second corporate she's visited in the last few weeks. Matz and the rest of the NCUA Board visited VolCorp earlier this month. At WesCorp, Matz met with senior management and was briefed on the operations of...

  • EasCorp Golf Tourney Raises $100,000 for Children's Hospital Boston

    WOBURN, Mass. - EasCorp's commitment to the Children's Hospital Boston continues to be strong. The corporate's recent Credit Union Invitational Golf Tournament raised more than $100,000 for the hospital. EasCorp's Credit Union Invitational Golf Tournament is one of four 2003 events co-sponsored by the corporate and participating credit unions to...

  • Corporate Central Offering Free Online Check Images

    HALES CORNER, Wis. - The $2 billion Corporate Central CU said it is offering its members free online access to check images. Corporate Central members will have access to checks, money orders, casher's and certified checks over the Web. The corporate first started offering images of checks nine years ago,...

Letters to the editor

  • Don't Overlook the Disabled Employee

    Your article on credit unions that serve the disabled (CU Times, July 16), "How One Credit Union Discovered the Benefits of Tapping the Disaled for Workplace Talent", was mostly on target, but it didn't go nearly far enough. Credit unions should not only consider serving those with disabilities, but they...

  • Outsourcing Sometimes the Only Choice for Some CUs

    Thanks for publishing Lecia Roundtree's well-written opinion article on outsourcing in the July 16th issue ("Increasing Human Resource Efficiencies Through Outsourcing.") In addition to some of the excellent points Roundtree makes, outsourcing is sometimes the only option for small and mid-sized credit unions that need expertise in areas they have...

Opinion

Publisher's Column

  • NAFCU Conference Tops Despite Tired Format

    It is becoming more obvious every year that the typical national conference format utilized by credit union group sponsors, and all sorts of other industries as well, has probably outlived its usefulness. There has to be a better way than going from registration to opening reception to opening general session...

Staking Out the Stats

  • Staking out the Stats

    A Synergistics Research Corporation survey titled Optimizing the ATM, finds that there may be more changes in store for ATMs. Potential changes range from using the ATM as a marketing tool to send targeted messages related to individual financial needs, to simple fixes like creating ATM screens that can easily...

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