Credit Union Times Magazine June-04, 2003

News Briefs

  • SBA Draft Strategic Plan Notes Use of CUs

    WASHINGTON-The Small Business Administration's draft strategic plan for 2003-2008 recognizes the role credit unions can play in helping SBA continue to meet small business needs "in an era of declining resources and increasing expectations." "New ways must be found to use limited resources to serve more small businesses, and to...

  • Staatz Appointed President/CEO, SECU of Maryland

    BALTIMORE- Rod Staatz has been appointed by the board of directors of State Employees CU of Maryland to succeed Teresa Halleck as SECU's new president/CEO. Staatz's appointment was effective May 12. Halleck left SECU last year to work as president/CEO of the Golden 1 CU in California. She succeeded Stan...

  • UNFCU Joins CO-OP Network

    ONTARIO, Calif. - The worldly $1.7 billion United Nations Federal Credit Union has joined CO-OP Network. "The UNFCU membership creates a unique challenge for their credit union - to provide product and service offerings that meet the special needs of more than 57,000 members spread across the globe," said CO-OP...

  • NY Bill Passes Allowing CUs to Participate in Banking Development Program

    ALBANY, N.Y. - The New York State Assembly unanimously passed the Banking Development Districts bill - A. 399 - that allows credit union in banking development districts. The Banking Development District Program provides property tax breaks to banks and thrifts that establish branches in underserved areas. It also allows municipalities...

  • Shelby Asks for NCUA's Opinion for Senate Reg Relief Bill

    WASHINGTON-Senate Banking Committee Chairman Richard Shelby (R-Ala.) recently requested suggestions for a regulatory relief bill in the Senate from NCUA Chairman Dennis Dollar. Shelby explained in his May 23 letter that he felt regular review of the effectiveness of banking laws and regulations is important. "To this end, I respectfully...

  • Home Equity Reform Legislation Passes in Texas

    AUSTIN, Texas - The Texas House of Representatives has passed SJR 42, the Home Equity Reform Legislation authored by State Senator John Carona and supported by the Texas Credit Union League. The measure includes the following provisions: authorization of lines of credit up to 50% of fair market value of...

  • Matz Chooses CUNA Staffer for her Next Executive Assistant

    WASHINGTON-CUNA seems to have become a breeding ground of late for their constituents' regulator. CUNA Vice President of Information Services Steve Bosack, also vice president of public relations, is the latest CUNA staffer to move over to NCUA. Earlier this year, former CUNA lobbyist Maura Hampton was hired on as...

  • WesCorp's Record RUDE Helping Pay Operating Expenses

    SAN DIMAS, Calif. - WesCorp said its Reserves and Undivided Earnings (RUDE) recently topped $500 million, a new record. RUDE and fee income help WesCorp pay the majority of its operational expenses, which it says help it become even more flexible in returning money to its members through better yields....

Quotes Worth Quoting

  • Quotes Worth Quoting

    "I do not wish to see Congress lower the standards. In fact, I would strongly oppose lowering the bar. It just seems to me that the PCA standards, to be most effective in encouraging better risk management by credit unions, should be based on a percentage of at-risk assets, not...

In Other News

  • DONATIONS

    Santa Ana Federal Credit Union, Calif., has donated $1,000 to benefit the Children's Miracle Network. The funds were raised by selling five-dollar Candy Safes. Virginia Credit Union, Richmond, employees have volunteered their time to help second and third grade students from Patrick Henry Elementary School bring their reading fully to...

  • MILESTONES

    State Employees Credit Union, Lansing, Mich., employees received a special surprise visit from Governor Jennifer M. Granholm. SECU representatives were making business development calls to promote the credit union's products and services to state of Michigan employees when the Governor made her appearance. Point Loma Credit Union, San Diego, has...

  • AWARDS

    Marion & Polk Schools Credit Union, Salem, Ore., has been singled out by the Association of Retired Person's Driver Safety Program for its senior member education efforts. Over the past decade MaPS CU has hosted two classes each year and paid members' enrollment fees. Each of the classes graduates some...

Tech Bytes

  • Tech CU Implements MemberBridge Suite

    SAN JOSE, Calif. - Technology CU has partnered with Corporate Network eCom for its MemberBridge suite of products. The suite includes bill payment, OFX connectivity, and an ACH transfer application. "MemberBridge gives us increased control over our Internet-based applications. We can now offer technology-savvy members a full range of online...

  • Andrews FCU Chooses eFunds to Drive U.S., Europe ATMs

    SCOTTSDALE, Ariz. - The $650 million Andrews FCU has selected eFunds Corporation to drive its ATMs and network access in the U.S. and Europe. Prior to this AFCU controlled the driving of their ATMs, but will now outsource that function to eFunds. The CU said it chose eFunds primarily for...

  • New CUSO to Focus on Call Centers, Shared Branching, and Others

    KENTWOOD, Mich. - A new CUSO that will focus on creating financial, managerial and financial solutions for its networked credit unions has been created in western Michigan, and its board and first president have been named. Scott Collins, a veteran of IBM AS/400 sales and management, is the president of...

  • CFS Unveils CAM

    SAN DIEGO, Calif. - CUSO Financial Services,LP (CFS) has launched a new wWeb-based managed account platform. The CUSO Asset Management (CAM) platform will help CFS investment advisors allocate their client's funds to specific money managers via the Web. CAM will help prepare client proposals, run portfolio diagnostic reports, make change...

  • CU*Answers Adds Non-Member, Courtesy Pay Services to Core Platform

    KENTWOOD, Mich. - CU*Answers said it will be adding non-member teller services and non-return checking programs to its flagship software product - CU*Base. The core-processing CUSO formerly known as WESCO says its non-member teller services will be a standard feature offering check cashing and other over-the-counter services to non-members, and...

  • DSI Calls LoanMagic First Fully-Integrated Contact System for Mortgage Officers

    CARSON, Calif. - Document Systems Inc. has released what the company calls the first fully integrated customer contact management system specifically for mortgage loan officers. LoanMagic handles lead management, client information, loan comparison, meeting scheduling, loan comparisons, rate locks and report transfers between clients and contacts. The new solution interfaces...

  • U.S. Central Protecting Systems with eEye

    LENEXA, Kan. - The corporates' corporate is using eEye's SecureIIS Application Firewall to protect its systems. U.S. Central Credit Union has implemented the solution to protect its approximately 20 Microsoft IIS Web servers. eEye is an enterprise security firm based in Aliso Viejo, California. SecureIIS operates within Microsoft IIS to...

  • OSI Lands Bethpage FCU, Adding to List of Big Conversions

    GLASTONBURY, Conn. - Open Solutions Inc. has landed another big credit union for its core processing services, signing on $1.5 billion Bethpage FCU on Long Island. It will be the largest technology conversion in New York credit union history, the company says, and comes on the heels of OSI's core...

  • Fiserv/FSV Cardholders Can Utilize Payroll Debit Cards Via Allpoint

    BROOKFIELD, Wis. - Fiserv announced that an agreement providing for surcharge-free ATM transactions for its payroll debit card programs has been signed between Financial Stored Value (FSV) Payment Systems Ltd. and ATM National, operator of Allpoint, a nationwide network of 23,000 surcharge-free ATMs. Access for Fiserv and FSV cardholders at...

  • CUSOs can Develop DP Software for CUs but Cannot Invest in LLC to do the Same

    ALEXANDRIA, Va.-Credit Union Service Organizations are permitted to develop data processing software to license to credit unions but generally cannot invest in a limited liability company for the same purpose, NCUA wrote in a recent legal opinion letter. Currently, a federal credit union can invest up to 1% in aggregate...

  • CSI to Acquire ATTUS Technologies

    PADUCAH, Ky. - Computer Services, Inc., a large bank processor, has signed a definitive agreement to acquire ATTUS Technologies, Inc., a leading provider of technology-based compliance solutions for banks, credit unions, insurance companies and securities firms. The acquisition is expected to close by May 30, 2003. Terms of the acquisition...

  • Online Bill Payment May Exceed $200 Billion in 2003, NACHA Says

    HERNDON, Va. - NACHA - The Electronic Payments Association NACHA estimates that the dollar amount of online bill payments could surpass $200 billion in 2003. "Online bill payment is now a mainstream consumer activity," said Elliott C. McEntee, President and Chief Executive Officer of NACHA. "Tens of millions of consumers...

  • Paragon Services Names DigitalMailer Preferred E-Services Vendor

    HERNDON, Va. - Paragon Services Inc., a wholly-owned CUSO of Paragon FCU, was named the CUSO's preferred vendor to provide digital communications products to the list of e-services the CUSO offers to its 100 credit union-related clients. Under the marketing alliance, DigitalMailer will offer its e-strategy products such as newsletters,...

  • Meadows CU is Latest CU to Partner with CashEdge

    ARLINGTON HEIGHTS, Ill. -Meadows Credit Union is the latest to partner with CashEdge, a facilitator of online money movement between institutions. Through the relationship new members can open an account with Meadows instantly via the CU's Web site. Members will also be able to transfer funds between any two accounts...

Letters to the editor

  • Bentley Networks' Check Delivery More Timely

    In the May 14, 2003 issue of Credit Union Times, I was quoted in an article written by Elaine Barr titled "CU Control - Indirect Lending CUSO Purchases Bentley Networks Credit Union Member Lending Colorado/Wyoming Program." The quote was "When CUILA dealt through Bentley Networks it typically took one to...

People

  • SOUTHWEST

    Fort Bliss Federal Credit Union, Texas, has named Brandy Bermes assistant vice president for Internet services.

  • EAST

    Olean Area Federal Credit Union, N.Y., has appointed Daniel R. Rourke CEO. Chartway Federal Credit Union, Virginia Beach, Va., has named Celia Woodham Director of Operations. Maine Credit Union League, Westbrook, has named Jane Thomas director of education. Citadel Federal Credit Union, Thorndale, Penn., has elected Kevin L. Gravatt board...

  • MIDWEST

    Landmark Credit Union, New Berlin, Wis., has named Julie Cooper business loan officer and Michelle Polacheck training and development officer. Missouri Credit Union Association, St. Louis, has named Bob Ruh director of plastic card sales/implementations. Motor Parts Federal Credit Union, Auburn Hills, Mich., has named Robin R. Johnson executive vice...

  • WEST

    Kitsap Credit Union, Bremerton, Wash., has named Marianna Nye Puget Sound Naval Shipyard branch manager; Brenda Peterson support services manager and Kathy Thompson Poulsbo branch manager. Hawaii State Federal Credit Union, Honolulu, has elected the following officers to its board: Beverly Ing Lee, chair; Andrew Endo, vice chair; Louise Akamine,...

  • SOUTH

    Insight Financial Credit Union, Orlando, Fla., has named Heike Collins Oviedo branch manager. In addition Insight Financial CU has promoted Barbara Lay to call center branch manager. Georgia Federal Credit Union, Atlanta, has promoted Daveeth Svansson to Northlake branch manager and Lori Young to assistant branch manager. Volunteer Corporate Credit...

News

Opinion

Publisher's Column

  • The Number of Questions Keeps Increasing

    Like many persons involved in credit unions, I work hard to keep current with the ever-lengthening list of credit union issues. Yet, it often seems that the more information I digest, the more I end up with more questions than answers. Questions like these: What will it take for lawmakers,...

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