Credit Union Times Magazine July-09, 2003

News

Tech Bytes

Opinion

News Briefs

  • Credit Union Card Portfolio Drew a 26% Premium Card, Executive Says

    THOUSAND OAKS, Calif. - A credit union card portfolio characterized as "small but high quality" brought a 26% premium over book value, according to R.K. Hammer, a noted card portfolio evaluator. According to Hammer, six card portfolios worth over $15 million sold in the second quarter of 2003, on top...

  • CCUL Gives NCUA High Marks for Deposit Parity Proposal

    RANCHO CUCAMONGA, Calif. - The California Credit Union League congratulated NCUA for proposing amendments to the share insurance rules that would give credit union members the same extended grace period in deposit coverage that customers of federally insured banks receive when two institutions where they have deposits merge, or when...

  • NSC Selects BSI as Preferred Partner

    WASHINGTON - NAFCU Services Corporation(NSC), has selected Bankers Systems Inc as its preferred partner for USA PATRIOT Act solutions. Effective October 1, 2003, it is mandatory that credit unions prepare their staff and infrastructure to be in compliance with Section 326 of USA PATRIOT Act rules and regulations. "Now that...

  • Carolinas CUF Honors Retiring NCCUL President with Spiritual Center

    PINEHURST, N.C. - Campers at the Victory Junction Gang Camp will now have a Spiritual Center thanks to the Carolinas Credit Union Foundation. CCUF will build the Larry and Hanna Johnson Spiritual Center in honor of retiring North Carolina Credit Union League President Larry Johnson. "This Spiritual Center has been...

  • Ernst & Young Honors Digital Insight CEO

    CALABASAS, Calif. - Digital Insight President/CEO John Dorman has been presented the 2003 Greater Los Angeles Ernst & Young Entrepreneur Of The Year Award for Technology. The award honors outstanding entrepreneurs who have demonstrated excellence and extraordinary success in such areas as innovation, financial performance, and personal commitment to their...

  • Louisiana CUs Raise $54,000 for CULAC

    BATON ROUGE, La.-Louisiana credit unions raised more than $54,000 this year as part of their CULAC Challenge to raise money for CUNA's Credit Union Legislative Action Council. The CULAC Challenge is a competition held between the Louisiana Credit Union League's nine chapters from Jan. 1 through June 19, the last...

  • Check Truncation Legislation Moves Full Steam Ahead

    WASHINGTON-The Senate gave the Check Truncation Act of 2003 (H.R. 1474) the green light when the bill passed the chamber by unanimous consent June 27. While credit unions already have the authority to truncate their checks and have done so for decades, the legislation provides for truncation more often and...

Briefs

  • Constitution State Corporate Gives Money and Tech to CIF

    WALLINGFORD, Conn. - Like other corporates, Constitution State Corporate has stepped up its contribution to the National Credit Union Foundation (NCUF) through a $500,000 investment in the Community Investment Fund (CIF), but that's not the end of Constitution's help to NCUF. Constitution is lending some of its tech prowess to...

  • Mid-Atlantic Corporate Announces Election Results

    MIDDLETOWN, Pa. - Mid-Atlantic Corporate FCU elected its board of directors on June 21. The following incumbents were re-elected to serve three-year terms: Treasurer Richard Burtnett of the Pennsylvania Grange FCU; Vice Chairman Bob Edmondson of Atlantic Credit Union; and Chairman J. Charles Forney, Members 1st FCU. Forney has served...

  • First Carolina Corporate Hits the Links for Charity

    GREENSBORO N.C. - The $2 billion First Carolina Corporate Credit Union raised $25,000 at its First Annual Charity Golf Classic on Sunday, June 22 at the Little River Golf Club in Pinehurst, N.C. Money was raised through sponsorship from First Carolina's credit union members and business partners. The money was...

  • Georgia Central Offers 2003 Network Security Seminar

    DULUTH, Ga. - Georgia Central wants its members to be secure. On July 16th, the $1.6 billion corporate is sponsoring the "2003 Network Security Seminar," at the Crowne Plaza Ravinia in Atlanta, from 10 a.m. - 3 p.m. Experts from Securadigm will discuss cyber-crime, viruses, and intrusion detection and offer...

  • Southeast Corporate Maintains `AA' Rating

    TALLAHASSEE, Fla. - Once again Southeast Corporate has received one of Standard & Poor's (S&P's) highest ratings. In a rating report dated June 18, 2003, S&P issued a rating of `AA/Stable/A-1+' to Southeast Corporate. In the report, S&P said: "The ratings on Southeast Corporate Federal Credit Union are based on...

Publisher's Column

  • Reader Puts Director Types Shoe On Other Foot

    A column earlier this year (April 16, 2003), describing different types of credit union directors I have observed over the years, brought a predictable response from both credit union directors and CEOs. Many directors didn't like it much. One found even the category titles (Givers, Takers, Zealots, Politicians, Power Brokers,...

People

  • EAST

    New Horizon Credit Union,Manassas, Va., has named N. Bradford May senior vice president/COO. Hudson Heritage Federal Credit Union, Newburgh, N.Y., has named Stephen Kirby executive vice president. New York State Credit Union League, Latham, has elected the following officers to its board: Entertainment Industries FCU President/CEO John C. Gibardi chair;...

  • MIDWEST

    Heritage Federal Credit Union, Newburgh, Ind., has named Jeffrey Odom assistant vice president. Glacier Hills Credit Union, West Bend, Wis., has appointed Dennis D. Degenhardt president/CEO. Capital Community Credit Union, Lansing, Mich., has named Denise Ronning business development manager. Three Rivers Federal Credit Union, Fort Wayne, Ind., has promoted Jim...

  • VENDORS

    Harland Financial Solutions, a financial solutions provider, has named Rick Martin Southeast regional sales manager. Allied Solutions, a provider of insurance services, has named Bob Vedder sales manager of the Tennessee, Alabama, Georgia, Mississippi, Texas and Arkansas territories.

  • SOUTHWEST

    Texas Dow Employees Credit Union, Lake Jackson, has named Matthew Diaz vice president of internal auditing and Carol Stryker vice president/chief information officer/chief financial officer. In addition TDECU has promoted Janice Arizmendi to vice president of human resources/chief of staff.

  • WEST

    Safe 1 Credit Union, Bakersfield, Calif., has named Cindy Wonderly chief financial officer. Wescom Credit Union, Pasadena, Calif. has named Vesceni Ramirez vice president of business and government affairs and Tom Orman vice president of real estate. Kitsap Credit Union, Bremerton, Wash., has named Deonne Edwards South Kitsap branch manager....

  • SOUTH

    Alabama Credit Union, Huntsville, has promoted the following employees: Kayce M. Bell to chief operations officer; Becky Farley to branch network coordinator; June Landrum to branch manager; Benson Bolling to manager of business and card services; Debbie Smith to Bryant Drive branch head teller; and Lara White to trainer. Central...

In Other News

  • Scholarships

    Robins Federal Credit Union, Warner Robins, Ga., has awarded scholarships to five high school seniors. Each year, Robins FCU selects the best of high school graduating seniors and awards them the honor of being a member of the Most Excellent Senior Team. Recipients will each receive a one-year, $1,000 scholarship...

  • Donations

    Newport News Shipbuilding Employees' Credit Union, Va., staffers have teamed up for the America Cancer Society's Relay For Life event. Dedicated team members spent five months collecting more than $13,000. From the participating 250 teams, NNSECU ranked in the top 10 teams in the amount of money raised. Its campsite...

Letters to the editor

  • Continuing to Make Annual Reports Better

    I and our credit union's marketing manager Cecilia Salinas appreciated Mike Welch's Publisher's Column in the June 11th issue regarding annual reports ("Most Important Annual Report Decision: Purpose"). For the first 26 years of our existence, our annual report was an eight-and-a-half by 11-inch sheet of paper folded in half,...

  • Mid-sized CUs' Survival Not at Risk

    I have to take exception to Mike Welch's June 18th column, "Middle-sized CUs Most at Risk of Survival." Let's see, our credit union is $50 million in assets ("the middle group") with 4,800 members (not a bad average balance), our assets have increased by over 30% during the last two...

In Memoriam

Publisher's Notebook

  • See It Here First

    As a publication that has as its main focus providing news of interest and value to credit unions, it shouldn't be surprising that Credit Union Times strives to be first when it comes to reporting all breaking news. To be able to do that, our editorial team has established an...

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