Credit Union Times Magazine August-06, 2003

  • CMG's Home Equity Debt Cancellation Product Helps Members Deal with Life's Unexpected Events

    MADISON, Wis. - CUNA Mutual Group's latest addition to its CU CHOICE debt cancellation product family targets the loan category that's a growing portion of credit unions' loan portfolio but has been historically unprotected - home equity loans. According to CUNA Mutual, credit unions have about $24 billion in home...

  • Consultant Says CUs Have to Loosen up to Develop Future Profitable Members

    BOSTON-Using examples from her own life, Counter Intelligence Associates President and CEO Diane Johnson told credit unions that they need to loosen up to properly serve the incoming crop of members. Take Johnson's 22-year old daughter who is entering a doctorate program, graduated high school at sixteen, and recently bought...

  • Fake Sites Leave CUs Stumped; it's a Growing Problem in Credit Union Land

    MADISON, Wis. - As advertisements and Web sites for fake credit unions pop up across the country, credit unions are left uncertain how to protect themselves. Just after exposing a fake company in Florida calling itself Century CU for releasing advertisements in Missouri, Ohio, San Francisco, the dubious ads have...

  • Credit Union Employment Resources to Acquire Integrated Business Resources

    DALLAS - Credit Union Employment Resources, Inc. (CUER), a subsidiary of the Texas Credit Union League, has reached an agreement in principle to acquire Integrated Business Resources, Inc. (IBR), a Texas-based provider of credit union employment, consulting and strategic planning services. Karen Houston, president of IBR, will assume the position...

  • Bankers' Policy Amendment Recommendation for NCSL Handily Defeated, but Dangers Still Lurk

    WASHINGTON-At the annual meeting of the National Council of State Legislatures, the bankers attempted to pave the way for credit union taxation by couching it as a preemption issue. In the end, the Financial Services Standing Committee of NCSL voted 15-4 to dismiss a policy amendment pursued by the bankers...

  • Corporates Anticipate Senate CLF Deliberations

    WASHINGTON-Association of Corporate Credit Unions Chairman Bruce Fahnestock said the group is highly interested in the Senate's action on credit unions' Central Liquidity Facility. "We look forward to working with the Senate after the summer recess to complete the action on appropriations for the Central Liquidity Facility," Fahnestock, president and...

  • Generational Patterns give Hope for Future

    BOSTON-The newest generation, the Millennials, are revealing a glimpse of optimism following their realist predecessors: the Gen X'ers. According to generational expert Neil Howe, the Millennial Generation-those born after 1982-are generally exhibiting a more positive outlook for their collective futures, a renewed appreciation of the nation and its history as...

  • Consumer Confidence Drops in July

    NEW YORK - Consumer confidence in the economy dropped more than six points in July from the previous month, according to The Conference Board. Economists had expected the confidence index to rise. The consumer confidence in July was 76.6. One month prior it was 83.5. In addition, the Conference Board's...

  • Institutions should be able to Choose Whether to Accept Matricula, CUNA says

    WASHINGTON-Financial institutions should be able to choose whether to accept the matricula consular cards as a valid form of identification or not, CUNA Associate General Counsel Mary Dunn wrote in a comment letter to Treasury. "CUNA is aware that a number of concerns have been raised about the use of...

  • Millennial Recession is One of the Mildest and Harshest; Intellectual Revolution is Here

    BOSTON-Economist Lester Thurow described America's most recent recession as one of the mildest, yet harshest in recorded history. While the recession can be considered one of the mildest ever, it has been one of the highest in job losses since the Great Depression. America is losing 400,000 jobs every three...

  • The Network's 33 Corporates May Soon Become 31

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  • Millions of Merchants Get Debit Notices

    ARLINTON, Va. - Over 8.1 million merchants across the United States have been sent notices this month alerting them to the possibility that they might have a share in the billion dollar debit settlements from VISA and MasterCard. According to Cardweb.com, a World Wide Web site that tracks credit card...

  • NAFCU's Take Me Out to the Ball Park: Yankees Take Game in Beantown

    BOSTON - There was a lot of anticipation from NAFCU attendees for the Friday night baseball game at historic Fenway Park between the visiting New York Yankees and home team Boston Red Sox. The game did not disappoint. It was a classic game that had all the elements of a...

  • Equifax to Pay $250,000 to Settle Consumer Credit Charges

    WASHINGTON - Equifax Credit Information Services has agreed to pay $250,000 to settle Federal Trade Commission charges that the company's blocked-call rate and hold times violated provisions of an FTC consent decree that settled a 2000 lawsuit for the same violations of the Fair Credit Reporting Act. The lawsuit charged...

  • Credit Unions Need to Better Document Employment Issues

    BOSTON - Credit unions need to develop personnel manuals more thoroughly and then pay more attention to them, a lawyer who defends businesses against employee lawsuits told NAFCU attendees. "I can't tell you how many times I have had a client call to tell me an employee has been doing...

  • CULAC Continues to Dole Out Funds

    WASHINGTON-CUNA's political arm, the Credit Union Legislative Action Council, continued on its roll of handing out money to political chums throughout June. According to data from the Federal Election Commission, CULAC took in $123,174.68 during the month of June and made $93,931.37 in contributions to political candidates. Thus far in...

  • House Financial Services Committee Members Pass Flood Insurance Legislation

    WASHINGTON - Members of the House Financial Services Committee, including the committee's ranking Democrat, Rep. Barney Frank (Mass.) gave themselves a pat on the back for approving a bill that reauthorizes and reforms the National Flood Insurance Program. H.R. 253, The Two Floods and You Are Out of the Taxpayer's...

  • BRANCHING OUT

    State Center Credit Union, Fresno, Calif., has recently opened a new Clovis branch. The full-service, state-of-the-art facility has been designed to offer members more convenience. Harborstone Credit Union, Tacoma, Wash., has broken ground on a new financial service center. The 5,120 square-foot building is scheduled to open in November and...

  • Cardinal Community Credit Union Landlocked and Loving it

    MENTOR, Ohio - In a facility that was just eight years old Cardinal Community Credit Union found itself needing more room. "Initially we wanted to add on to our existing site, but we were limited by the land and every configuration we tried came up with a roadblock in either...

  • NCUA Slashes Budget $3.4 Million Mid-Year; 18% Usury Ceiling Holds

    ALEXANDRIA, Va.-In a brief board meeting of the NCUA, the agency announced that it had cut its 2003 budget by 2.31%. According to NCUA's Board Action Memorandum, the agency's total operating costs for 2003 were going to be pared down by nearly $3.4 million or 2.31%. Much of the savings...

  • NCUA Shifting toward E-Communications with CUs; MBL Rule Being Carefully Considered

    BOSTON-NCUA Vice Chair JoAnn Johnson announced a new cost-saving measure at NCUA at NAFCU's 36th Annual Conference. She noted that NCUA currently spends about $1 million a year distributing information to credit unions. If just 50% agreed to receive those communications electronically, the agency's savings would be substantial, Johnson observed....

  • Pennsylvania Banking Dept. Warns Mortgage Brokers on Using Misleading Direct Mail Solicitations

    HARRISBURG, Pa. - Attention first and second mortgage loan brokers in Pennsylvania: the state Department of Banking has put you on notice concerning the use of misleading or deceptive direct mail solicitations that use the name of other mortgage companies or lenders. In her letter to mortgage brokers, Cynthia Wirt,...

  • WesCorp to Merge with PacCorp; Timing Was Right Says PacCorp CEO

    SAN DIMAS, Calif. and HONOLULU - This time it's more than just talk - PacCorp and WesCorp have agreed to merge. The $24 billion WesCorp, San Dimas, Calif., is the nation's largest corporate credit union serving approximately 1,000 credit unions in 33 states and Guam. The $567 million PacCorp is...

  • Large Community Charter Approvals: OK. Now What? Credit Unions Work on Penetration

    WALKERSVILLE, Md.-NCUA has caught a lot of flack lately from certain sectors for approving very large community charters, which the banks have attacked in the courts as illegal. But what are these credit unions that have converted to vast community charters doing with them? "We had originally been chartered as...

  • DuPont Community CU Digs in For fight with VBA, Keeps its Charter Options Open

    WAYNESBORO, Va. -Given the reactions of other states' bankers associations to their state-chartered credit unions' field-of-membership expansions, Gerald Hershey, president/CEO, DuPont Community CU saw the Virginia Bankers Association's challenge of his credit union's approved FOM expansion last year by the Bureau of Financial Institutions as being `almost a sure thing.'...

  • CUNA, NAFCU Ready Intervention On NCUA Utah Suit

    WASHINGTON - Two of the industry's leading trade groups, CUNA and NAFCU, are planning to intervene on behalf of the NCUA against the July 15 Utah field of membership suit brought by the American Bankers Association. "We're still working the issues, but the leadership of CUNA and NAFCU are committed...

  • CFA Survey: Most Consumers Don't Understand Credit Reports or Scores

    WASHINGTON - A new survey conducted by Opinion Research Corp. for the Consumer Federation of America found that not only do consumers lack essential knowledge about credit reports and scores, but that low- and moderate-income Americans who tend to pay the highest price for credit and are most vulnerable to...

  • Expect Economy Boost by End of the Year, Federal Reserve Bank of Chicago President tells CUNA

    CHICAGO - Even though the "road to recovery has been bumpier than expected," Federal Reserve Bank of Chicago President Michael Moskow is optimistic that the economy will regain momentum through the end of this year and into 2004. Moskow recently spoke to 130 attendees at CUNA's Economic and Investment Conference....

  • Hudson Valley FCU is Keeping it Simple with New Multi-County Marketing Push

    POUGHKEEPSIE, N.Y. - Just three little words that have helped Hudson Valley Federal Credit Union become the credit union members flock to -"Now You Can." Designed to coincide with the $1.6 billion credit union's launch of its community charter into three counties, the multimedia campaign plays up the idea that...

  • Financial Services Committee Approves FACT Act, Full House Expected to Pass it in September

    WASHINGTON-The House Financial Services Committee overwhelmingly passed H.R. 2622, the Fair and Accurate Credit Transactions Act, out of committee recently. In a late night session before the House left for its August recess, the committee approved the FACT Act, which permanently extends the federal preemption of credit reporting standards and...

  • New York League Offers Patriot Program to Credit Unions

    LATHAM, N.Y. - The New York State Credit Union League has partnered with Certegy to offer its member credit unions a better price on Certegy's Patriot Guard, a program designed to help credit unions meet their obligations under the USA Patriot Act. Certegy's Patriot Guard is a comprehensive program to...

  • Securian E-learning Helping CUs Sell

    ST.PAUL, Minn.- According to Securian Financial Network National Program Management Consultant Cindy Maag, although the "e" in e-learning technically stands for "electronic," it could also mean "economical" or "effective." A Brandon-Hall study finds that the cost to train individuals across all industries during the past five years is $760 for...

  • Texas League Campaigns for Passage of Home Equity Reform Amendment

    FARMERS BRANCH, Texas - Vote "yes" on proposition 16. That's the message behind a new consumer awareness campaign launched by Texas Credit Union League. Proposition 16 is the constitutional amendment that Texans will vote on Sept. 13 that would reform home equity lending in Texas. The League is urging credit...

  • Not Everyone Views CUs as they See Themselves

    BOSTON-Three major, incorrect perceptions of credit unions exist that the community needs to work to reverse, NCUA Board Member Deborah Matz told attendees of NAFCU's 36th Annual Conference. Matz said that there are three dangerous misperceptions some lawmakers have about credit unions: that large credit unions are just like banks;...

  • First CU in Western Washington Participates in Economic Power Project

    ENUMCLAW, Wash. - White River Credit Union is the first credit union in the western part of the state to participate in a multi-state project, Economic Power Project, to serve the unbanked or underserved minority populations in seven Western states. The Hispanic community is the target population in Washington State....

  • Utah First Acquiring Two Small CUs

    SALT LAKE CITY - Utah First Federal Credit Union announced July 30 it is planning to acquire two state-chartered credit unions in a move that will bring Utah First's total assets to more than $150 million once the transactions are completed. The proposed transactions include Utah First's acquisition of Salt...

  • Security Concerns Will Help Smart Cards' Arrival

    BOSTON - Efforts by Visa and MasterCard to fight fraud will likely provide the institutional push to make U.S. credit unions and other financial institutions adopt so-called smart card technology more widely. Charles Walton, senior vice president of Caradas, Inc, a card consultancy firm based in Braintree, Massachusetts, told an...

  • Negotiations are about Process, not Substance

    OSTON-Focus on process and not substance in negotiations and all parties should walk away from the table better, according to Collaborative Thinking President Michael Chaffers. It is rare that parties to negotiations sit down and think about how to talk with the other party, yet "It's one of the most...

  • Oregon League Offers Vendor Guide, Retainer

    SALEM, Ore. - Often saddled with processing and manpower expenses beyond their reach, small Oregon credit unions this month are being armed with two new tools from the Credit Union Association of Oregon to make their job easier: creation of a statewide vendor directory and the introduction of a legal...

  • CCUL, Richard Myles Foundation Pet Walking for Education

    RANCHO CUUCAMONGO, Calif. -The Richard Myles Johnson Foundation and local chapters of the California Credit Union League are hitting the streets with their pets during the "Paws for Education Walks" to raise money for financial literacy education in California high schools. Credit union staff, members, volunteers, and others will collect...

  • No Small Afair - Small Business Can Mean Big Returns for Credit Unions

    BOSTON-With standing room only, Joanna Bruno, president of J.R. Bruno & Associates told attendees of NAFCU's 36th Annual Conference that credit unions have the opportunity to hook some pretty big fish through Small Business Administration-backed loans. She noted that while it is called the `Small' Business Administration, it can guarantee...

  • Former HUD Secretary Cisneros to Keynote 2003 CRA & Fair Lending Colloquium

    BOSTON - Henry Cisneros, former HUD Secretary and the first Hispanic-American mayor of a major U.S. city, will keynote the 2003 CRA & Fair Lending Colloquium to be held Nov. 3-5 in Atlanta, Ga. Cisneros now serves as the CEO of American CityVista, whose goal is to build communities in...

  • Exit Mills, Enter Furnas

    New NAFCU Board Chairman Diane Furnas, president/CEO of Southwest Airlines FCU, accepts the gavel from outgoing NAFCU Chairman Jim Mills, president/CEO of Three-Rivers FCU. NAFCU presented Mills with a bronze plate thanking him for his six-years of service to the NAFCU Board, the last three as chairman. See full coverage...

  • PacCorp and WesCorp Invite Hawaii Credit Unions to Meeting

    An invitation went out from both corporates to Hawaii CUs inviting them to an informational meeting to discuss the merger. The meeting is scheduled for Wednesday Aug. 20 from 10:00 a.m. to 1:00 p.m. to be held at the Honolulu Country Club. A prime rib buffet luncheon will be served....

  • Addison Leaving Constitution State Corporate for Top Job at Texans CU

    RICHARDSON, Texas - Constitution State Corporate CU President/CEO David Addison is leaving the corporate to become CEO of Texans CU. Addison is leaving the corporate network, but he goes from one billion dollar institution to another. Constitution currently has $1.4 billion in assets, while Texans CU has $1.2 billion. Addison...

  • Members, Not Regulators, Are Top Priority in Privacy Decisions

    BOSTON-Often when credit union officials and others in the financial services industry hear the word privacy, the first thing that comes to mind is regulations and privacy notices. According to Fidelity Investment Chief Privacy Officer Leigh Williams, that should not be the case, even though those matters are important. Member...

  • 0% Interest Rate an Option, says Fed Gov

    WASHINGTON - The Federal Reserve could be forced to keep interest rates low or even reduce them to 0% if the rate of inflation continues to fall even if the economy picks up in the second half of the year as some experts have predicted, said Federal Reserve Gov. Ben...

  • Providing Affordable Housing Good For Credit Unions

    BOSTON - Partnering with local non-profits to provide affordable housing can help a credit union as well as its local community, a community development leader and credit union executive told an audience at NAFCU's annual conference. In the eight years since it began working with a local non-profit group to...

  • Children Only at Kid Town CU

    GREAT FALLS, Mont. - Children rule here at Kid Town Credit Union where a hands-on approach to financial education is a must. The "credit union" is actually one of the interactive exhibits at the new Great Falls Children's Museum. The exhibit features a small, brightly painted building complete with a...

  • NAFCU Doles out its Annual Awards; ESL FCU is This Year's White Hat Winner

    BOSTON-During its 2003 Annual Conference, NAFCU honored numerous federal credit unions and their officials with awards spanning from Professional of the Year to Best Newsletter. These awards went to NAFCU members exemplifying "strong leadership, commitment to high quality member service, product information, sound financial management, and impressive community involvement." Below...

  • New Callahan Guides Help CUs Build Auto Loan Market Share

    WASHINGTON - Callahan & Associates has come out with two new hands-on guides to help credit unions develop programs to increase their auto loan portfolios. The first guide, "Indirect Auto Lending: Strategies and Successes" provides best practices in successful credit union indirect auto lending programs. The second guide, "Using Your...

  • Dollar Sees Two Challenges for Credit Unions into the Future

    BOSTON-NCUA Chairman Dennis Dollar told attendees of NAFCU's 36th Annual Conference that he sees two major issues running into the future for credit unions: risk management and taxation. Along with risk management comes the diversification necessary to achieve proper balances of risk. Dollar pointed out that NCUA has implemented a...

  • Federal Regulators Provide Discount Window Guidance

    WASHINGTON-NCUA and the other federal financial institution regulatory agencies issued guidance recently on the appropriate use of the Federal Reserve's primary discount window program in liquidity risk management and contingency planning. The guidance explains the Fed's discount window programs, including the new primary and secondary programs initiated in January. It...

  • Washington State Div. of CUs Using New Contractor for IS&T Exams

    OLYMPIA, Wash. - Effective last month, the state Division of Credit Unions began using a new contractor to perform the Information Service & Technology portion of the division's examination. The new contractor, Trust Consulting and Compliance, will work with credit unions on information service products and risk evaluation. The Division...

  • Sarbanes Introduces Financial Literacy Legislation

    WASHINGTON-Senate Banking Committee Ranking Member Paul Sarbanes (D-Md.) recently introduced legislation to establish an intergovernmental committee with the aim of bolstering financial education opportunities and improving consumers' financial decision-making. He said that currently there is little coordination and excessive duplication within the government and outside of it on financial literacy...

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

  • 10 Things to Consider Before Adding a Card Rewards Program

    Rewards programs have emerged as one of the single most effective ways to reach consumers and influence their payment choices and purchase behaviors. For generations, consumers have been able to save box tops and other proofs of purchases and exchange them for tangible rewards. Rewards programs operate much the same...

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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