Credit Union Times Magazine March-05, 2003

In Other News

  • BRANCHING OUT

    Randolph-Brooks Federal Credit Union, Universal City, Texas, has celebrated the grand opening of its Ben White Branch. The celebration included a speech from TCUL General Counsel/Advocacy Ann Graham. Following the ribbon cutting ceremony, the Winston J. Robinson Duo strolled through the branch playing acoustic country western music. The facility features...

  • DONATIONS

    Bell-Tel Credit Union, Orlando, Fla., Real Estate Manager Candice Nowadly played cupid this year as she presented seven large boxes of valentines to the James A. Haley Veterans Hospital. The hospital serves approximately 350,000 veterans in Central Florida. The valentines of much needed items such as shampoo, soap, toothpaste, combs,...

  • AWARDS

    SECURITY Federal Credit Union, Flint, Mich., is among the finalists at the first annual Flint & Genesee County Business Awards. The credit union was recognized in both the service industry and e-commerce categories. The award program was started by the Flint Area Chamber of Commerce to recognize area businesses for...

News

  • Affinity FCU Family Referral Campaign Results in Lucky Winner

    BASKING RIDGE, N.J. - Affinity Federal Credit Union has recently awarded a Disneyland/Universal Studios vacation package to lucky member Colleen McDonald. McDonald's name was drawn from a pool of members who entered a raffle drawing as part of Affinity's Family Referral Promotion. The two-month promotion resulted in an additional 2,700...

  • Progeny Marketing Innovations Hits Road with BMW

    NASHVILLE, Tenn. - Progeny Marketing Innovations is hitting the convention road with a BMW convertible giveaway. For the fourth year in a row, the marketing strategy firm will be giving away a vehicle during the BAI Retail Delivery conference. Registered attendees at some 15 conferences throughout the year can enter...

  • CUDL's 2003 Marketing Campaign Evokes Fond First Car Memories

    RANCHO CUCAMONGA, Calif. - Everyone remembers their first car - how they paid for it, the make and model, the color, their first time behind the wheel, maybe even what they named the car. Even if their first car was only a toy car, they can remember that just as...

  • Helping Consumers Make a Quick Switch

    LAKE FOREST, Calif. - PSB The Marketing Supersourcer has launched a new "Switch Kit" Program to help set credit unions apart from the competition. The customizable program emphasizes the ease and convenience of converting an account from one existing institution to another. "With real growth of financial service products at...

  • Southern Tier CUs tops in "Rocker-thon 2003"

    BINGHAMTON, N.Y. - For the third straight year, the Southern Tier Credit Unions' Public Relations and Marketing Council (PRMC) took first place honors by raising the most funds during the annual Mom's House "Rocker-thon." For its contribution of more than $1,700, the PRMC was awarded a $100.00 gift certificate to...

  • MAC Hosts Multicultural Marketing Workshop

    WALNUT CREEK, Calif. - In light of growing diverse cultures in the United States, the Marketing Association of Credit Unions (MAC) will be presenting two workshops on multi-cultural marketing on March 5 at the California/Nevada Credit Union League office in Rancho Cucamonga and March 12 at the Embassy Suites Hotel...

  • UT FCU Shock Ad a Ringer for Students

    KNOXVILLE, Tenn. - Apparently it is not how much but what information is placed on a bald head that will appeal to elusive Generation X'ers here. "We wanted the students here to know that UTFCU accounts really stand out in a crowd and that we are `head and shoulders' above...

  • Wescom Puts the Pedal to the Brand

    PASADENA, Calif. - As Wescom Credit Union's small PT Cruiser "convoy" zips around southern California, consider it branding on the move. The three cars toting license plates 1WESCOM, 2WESCOM and 3WESCOM are the brainchild of Wescom CU President/CEO Darren Williams who wanted his business development officers to have vehicles that...

  • Kowal offers 3600 View of Call Centers

    BOSTON - The latest offering from Kowal Associates, a contact center consulting firm, hopes to provide a 360-degree call center view. The Contact Center Review 3600 highlights areas where the contact center is performing well, identifies performance gaps and outlines what changes need to be made to achieve the desired...

  • Chicago "Savvy Single" Launches Branding Firm

    CHICAGO - Today's Chicago Woman Business Magazine has named Kirsten Osolind, founder of re:invention a brand image consulting firm, one of the city's Savviest Singles of 2003. Osolind recently launched her firm to offer such services as strategic planning, competitive auditing, client business development, marketing promotions, and position-driven communication programs...

  • Special Report: Retail Delivery Systems/Marketing

    From a tattooed bald head to electric blue PT Cruisers racing around the California coast, see how credit unions are distinguishing themselves from the competition in a special report on pages 18 to 20.

  • Valley First Credit Union Adds Personality for Young Members

    MODESTO, Calif. - Valley First Credit Union has literally breathed life into its preteen club Planet M with a life-size version of HANC. Taken from the main character of Liberty Marketing Services' popular Planet M, eight-foot HANC (Human Assistant Network Communicator) has been busy on the road, making stops at...

  • Protecting Private Insurance

    A NASCUS Board member and an ASI executive speak out on attacks on private insurance. See story page 3.

  • SCC National Marketing Blitz Begins; Leveraging on the One-Stop Theme

    SOUTHFIELD, Mich. - The first shared branching network - Service Centers Corporation-is ready for its national marketing debut. Although well known locally and in Washington D.C. since merging with CO-OP Network, the largest credit union owned ATM/EFT network in June, SCC is making the most of its position as the...

  • ASI Firing Back at Private Insurance Nay Sayers

    WASHINGTON-Recent negativity about private share insurance has American Share Insurance President and CEO Dennis Adams all fired up. Most recently, NAFCU announced in a Credit Union Times exclusive (CU Times, Feb. 26) a policy statement that it believed all credit unions chartered in the United States should carry federal insurance...

  • CEO of ESL FCU Leaves on Strong Note - $5 Million Dividend to Members, `Robust' Growth

    ROCHESTER, N.Y. - Members of ESL FCU received their seventh consecutive year of bonus distributions, but this year's bonus was bittersweet since the credit union's president/CEO David Vigren, who's been in the corner office for nearly nine years, retired on March 1. The dividend was paid to members with any...

  • California Lawmaker Says CU Taxation Not Intent of Her Bill

    SACRAMENTO, Calif. - A bill to study the imposition of a "fee" on state and federally chartered credit unions in California has been introduced in the California Assembly - but the sponsor of the measure insists that is not the intent of her legislation. "I realize it looks like we're...

  • Are Credit Unions Moving Closer to Offering Payday-Style Products?

    RALEIGH, N.C. - It was standing room only for a payday lending breakout session at CUNA's GAC, portending what could be a more aggressive stance by credit unions to take on payday lenders. Twenty-five thousand members of the $9 billion State Employees' Credit Union use a payday loan-like product monthly,...

  • SECURITY FCU Staffers now Know Fame

    FLINT, Mich. - Several employees of SECURITY Federal Credit Union may soon be signing autographs since starring in the latest television advertising campaign. Two new television commercials airing on local television stations across the area, play up SECURITY FCU's tagline as "The People Who Know." Throughout both commercials, SECURITY employees...

  • Navy Surcharge Decision Not Linked to Joining CO-OP

    MERRIFIELD, Va. - Navy Federal's recent decision to start surcharging foreign users of its ATMs had nothing to do with its recent decision to join the CO-OP Network, according to Navy Federal spokeswoman Loren Moeller. Navy Federal, the world's largest credit union, is a $17 billion institution based in Merrifield,...

  • Michigan Financial & Insurance Services Commissioner Leaves Position

    LANSING, Mich. - Commissioner Frank Fitzgerald of the Michigan Office Financial and Insurance Services announced his plans to leave his position, effective the end of Feb. 21. OFIS had no comment on the reason for Fitzgerald's sudden departure. Fitzgerald was appointed commissioner of insurance by former Gov. John Engler in...

  • Massachusetts CU CEO Appointed by Governor to Highway Commission

    SHREWSBURY, Mass. - David L'Ecuyer, president/CEO of Central One FCU was selected by Gov. Mitt Romney here to serve on the newly-created Massachusetts Turnpike Commission that will work to save the state millions of dollars each year. L'Ecuyer joins seven other officials including legislators, university administrators, a former Internal Revenue...

  • CUNA Survey: Credit Unions Moving Aggressively Into Underserved Areas

    WASHINGTON - Credit unions that have added underserved areas to their fields of membership have aggressively sought to market membership and services to people living in those areas, according to CUNA's first nationwide survey of how credit unions serve low- and moderate-income members. The survey results represent the credit union...

  • Utah Senate Panel Votes 5-3 for Tax Bill; Moves it to the Next Stage

    SALT LAKE CITY - The bill to tax three Utah credit unions, seen by the U.S. credit union industry as a dire harbinger of banking's attack on CUs in state legislatures, has moved a step closer in the Utah Senate with committee passage of a first-time-ever 5% corporate franchise tax....

  • Southern California CUs to Launch $1 Million Radio, Billboard Ad Campaign

    LOS ANGELES - A $1 million advertising campaign aimed at "dispelling myths" about credit unions was scheduled to be launched Feb. 27 by more than three dozen Southern California credit unions. The cooperative advertising campaign will utilize radio spots and billboards. Credit unions from the Los Angeles, Orange County and...

  • Landmark CU Expands First-Time Home Buyer Program with Construction Loans

    NEW BERLIN, Wis. - Not everyone who buys a home wants a house someone's lived in before. Some people prefer to build their own home and be the first occupants. Sometimes building a home from scratch is simply a better value than buying a pre-existing one. Members of Landmark CU...

  • Filene Research Reveals More Evidence that CUs are Primed to Set Up Check-Cashing Stores

    PHILADELPHIA - Do 25-30 million Americans represent a market segment for credit unions? This is the number of Americans that use check cashing outlets, according to a Filene Research Institute study that shows that the average check cashier has a steady income, tends to be non-white and under the age...

  • Mortgage Abuses Exist, but Proposed RESPA Reform Not the Solution

    MERRIFIELD, Va. - Hearings on the Department of Housing and Urban Development's proposal to reform the Real Estate Settlement Procedures Act and simplify the home buying process continued in the House Financial Servicing Housing Subcommittee last week, but credit unions and trades say it's the wrong reform for the right...

  • New Mexico New Hot Spot for Tax Bill on CUs

    SANTA FE, N.M. - New Mexico is the latest state to come under the national spotlight as a prospective new battleground for a banking/credit union duel over taxes. A bill, introduced in the New Mexico House Feb. 20, seeks to levy a 5% corporate franchise tax on state-chartered CUs with...

  • New Pilot Program Focusing on Back Office Support Promises Credit Unions Greater Access to SBA Loans

    WASHINGTON - A new pilot project from CUNA and a designated small business lending corporation promises to allow a wide variety of credit unions greater access to loans guaranteed by the Small Business Administration. The federal agency that backs loans to small entrepreneurs decided on February 14 to allow all...

  • Idaho CU League to Add Direct Deposit to LSI Payroll Services

    BOISE, Idaho - In April the Idaho Credit Union League subsidiary League Services Inc. will add direct deposit to its newly-launched payroll processing service for member credit unions. The rollout will be the latest step in a service offering ICUL began at the request of credit unions. "Technically, we started...

  • Metuchen Assemblers FCU, Local NAACP Form Partnership

    EDISON, N.J. - Metuchen Assemblers Federal Credit Union is welcoming thee Metuchen-Edison Area Branch of the National Association for the Advancement of Colored People (NAACP) as its newest member. "Our newly fostered relationship with Metuchen Assemblers FCU fell into place. I was in the process of searching for a credit...

  • NASCUS Speaks Out Strongly Against Federal Regulation Through Insurance Fund

    WASHINGTON-Mary Louise Preis, Maryland commissioner of financial regulation and NASCUS Board member, spoke out tenaciously against NCUA strong-arming its way into regulating state chartered credit unions through the insurance fund. "We need to ensure that state chartered credit unions have their view in decisions the agency makes about the share...

  • Bankruptcy to get First Hearing of 108th Congress March 4

    WASHINGTON-The bankruptcy reform bill is expected to get its first hearing this time around in the early part of March. While the bill had not been introduced at press time, the House Judiciary Subcommittee on Courts, the Internet, Intellectual Property has scheduled a hearing for March 4 at 2 p.m.,...

  • Fed Issues Final Amendment on Equal Credit Opportunity Act Reg

    WASHINGTON-The Federal Reserve Board approved a final rule recently amending Regulation B, implementing the Equal Credit Opportunity Act. The Reg B amendments create an exception to allow creditors to collect nonmortgage applicants' personal characteristics to `self-test' for ECOA compliance. Also addressed in the changes is a 25-month record retention requirement...

  • CU Expansion, Taxation Make ABA Priority List

    WASHINGTON-Tripping up credit union expansion efforts and supporting their taxation are among the American Bankers Association's top priorities for 2003. ABA's statement on credit unions was third on a list of priorities listed in February's ABA Banking Journal chairman's column. However, other items included in the list are matters that...

  • Credit Unions Happy to See Hector at GAC

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  • Rohn Named Director of CUNA Councils

    MADISON, Wis. - David Rohn, association executive for CUNA & Affiliates, has been named director of the CUNA Councils, effective March 17. Rohn will provide overall strategic leadership and direction to the CUNA Councils' seven professional development groups, serve as the primary advocate of the Councils' interests to both internal...

  • Marketing Agreement Makes ICUL First League to Fund Centrix Loans

    SPRINGFIELD, Ill. - Centrix Financial L.L.C. has marketing agreements with credit union leagues in 20 states that promote the financial and risk management firm's Portfolio Management Program. Now an innovative marketing agreement reached between the Illinois Credit Union League Service Corp., a subsidiary of the Illinois Credit Union League, and...

  • President Notes CUs in Tax Plan Speech

    KENNESAW, Ga.-President George W. Bush paid homage to credit unions recently when he mentioned them in comments touting his tax plan. In a meeting with small business owners at Harrison High School in Georgia, President Bush explained that a family of four could be eligible to get $1,300 back from...

  • Networking Galore at GAC

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  • Credit Unions a Remedy for Financial Stress Blues?

    MADISON, Wis. -A recent Filene Research Institute report, finds that credit unions are in a unique position to help reduce employee financial stress and increase workplace performance. According to Filene Research Institute Executive Director Bob Hoel, one study revealed that the dollar cost to an employer for an employee who...

  • Aranjo's D. Edward Wells FCU Placed into Conservatorship

    SPRINGFIELD, Mass.-NCUA assumed control of service and operations at D. Edward Wells Federal Credit Union in Springfield, Mass. as of Feb. 21. D. Edward Wells was placed into conservatorship for failing to provide full access to its books and records and serious operational deficiencies, according to NCUA, including unreconciled financial...

  • SBA Lifts Half-Million Loan Cap

    WASHINGTON-Administrator Hector Barreto of the U.S. Small Business Administration last Tuesday lifted the cap on SBA-backed loans, an action which had many large lenders in an uproar. Participating lenders can once again submit applications for guaranteed loans of up to $2 million, as set in the statute, according to SBA....

News Briefs

Opinion

  • Creating a Newsletter Your Members will Read

    We all like to think that member pore over their monthly or quarterly newsletters, reading every word and considering how they can use all the wonderful services the credit union offers, participate in credit union events, and convince their families and co-workers to join the credit union. Reality check: Is...

Publisher's Column

  • Once again GAC looks the same with differences

    In between paralyzing snow and rain storms, the huge annual CUNA Governmental Affairs Conference in D.C. once again came off with a familiar sameness, but several differences too. Here are some random observations: * The record turnout of 3,000-plus again strained the conference facilities of the Washington Hilton Hotel. For...

GAC

  • Liberty Designated NCUF's Exclusive Check Partner

    MOUNDS VIEW, Minn. - The National Credit Union Foundation has designated Liberty Enterprises as the foundation's exclusive check partner. Since 1998, Liberty has pledged more than $110,000 to NCUF. Liberty President/CEO Stan Hollen said the company plans to make another "significant contribution" to NCUF at the Herb Wegner Memorial Awards...

  • Capital Limitations Biggest Regulatory Issue Facing Credit Unions, Researcher Says

    WASHINGTON - An easing or restructuring of credit unions' capital requirements is the biggest regulatory hurdle facing credit unions, according to William Jackson III, economics professor at the University of North Carolina at Chapel Hill. Jackson has authored a study, The Future of Credit Unions: Public Policy Issues, for the...

  • Credit Union House Purchase Paid Off but Don't Pack Up the Hammers and Saws Yet

    WASHINGTON-Many cannot fathom what it would feel like to get out from under a mortgage. That is exactly what Credit Union House did by making the last payment (totaling $600,000) to CUNA in January on the $1,375,000 loan for the purchase of the adjoining property, according to CUNA Vice President...

  • Symitar Lands U.S. Central after Corporates' Corporate Spent Over 20 Years With EDS

    WASHINGTON - Symitar Systems has landed its largest credit union client ever in U.S. Central. Credit Union Times first reported last August (CU Times, Aug. 21) that U.S. Central had selected Symitar for its core processing, and the two parties made it official at CUNA's GAC. Symitar President/CEO Bruce Cormode...

  • CUNA Mutual, Liberty, and U.S. Central, Each Contribute $100,000 to NCUF

    WASHINGTON - CUNA Mutual Group, U.S. Central, and Liberty Enterprises each donated $100,000 to the National Credit Union Foundation (NCUF). The donations were presented on Feb. 23 prior to the 2003 Herb Wegner Memorial Awards Dinner. Michael B. Kitchen, CUNA Mutual president/CEO, made the contribution for CUNA Mutual. "We are...

  • Community Resource Credit Union Launches Shared Branching Program

    HOUSTON - Members of Community Resource Credit Union couldn't wait for the official live date to conduct their financial business at shared branching facilities across the country. Community Resource Credit Union became the first Texas credit union this year to bring its shared branching program online through the Texas Credit...

  • CU Image Strong on Capitol Hill, Congressmen Say

    WASHINGTON-Two congressmen told attendees of CUNA's Governmental Affairs Conference that credit unions' presence on Capitol Hill is strong and positive. "When I think of credit unions, I think of grassroots," Congressman Bob Ney (R-Ohio) said during a panel discussion. While credit unions generally do enjoy strong bipartisan support, to keep...

  • CUNA Launches New Consumer-oriented .coop Site

    WASHINGTON -CUNA has launched a consumer-focused credit union Web site under the .coop Internet domain. CUNA said it developed the new site to provide consumers with targeted, relevant and timely information about credit unions and financial literacy tools in an easy-to-navigate format. Much of the information already appears on the...

  • Matz Wants Credit Unions to be PALS

    WASHINGTON-During her speech last week before CUNA's Governmental Affairs Conference, NCUA Board Member Deborah Matz introduced an initiative to aid credit unions in networking to share experiences and learn "best practices" from fellow credit union leaders. "This is my contribution to [NCUA] Chairman [Dennis] Dollar's Access Across America initiative which...

  • A Send Off for Hill Marchers

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  • Snow a Factor in This Year's GAC

    WASHINGTON -Snow did indeed make itself known during CUNA's GAC. While heavy snowfall plagued the Washington D.C. area and other East Coast cities during the week prior to CUNA's GAC, it also showed up at the end of the conference. Heavier than anticipated snow fall meant that one speaker had...

  • Frank: Credit Unions Not Immune to Overall Economic Situation

    WASHINGTON - Credit unions overall should feel more secure than they have in years about their overall situation, according to Rep. Barney Frank (D-Mass.) ranking Democrat on the House Financial Services Committee. However, they are not immune to the economy's overall situation and should be wary of the Bush Administration's...

  • Dollar Uses GAC to Float Risk-Based PCA Idea

    WASHINGTON-NCUA Chairman Dennis Dollar told attendees of CUNA's Governmental Affairs Conference last Monday that the prompt corrective action law should be modified to take into account a credit union's risk. Dollar pointed out that different diversifications of a portfolio makes a credit union a higher or lower risk entity and...

  • PSCU Sought New Impact With USA Today Ad

    ST. PETERSBERG, Fla. - PSCU Financial Services paid less than $5,000 for a full-page advertisement in USA Today to get the attention of credit union executives and board members assembled at the 2003 CUNA GAC, according to Brian Crawford, Chief Marketing Officer for the firm. "Credit unions have probably noticed...

  • Johnson Pushes MBL Initiatives for Near-Future NCUA Board Meeting

    WASHINGTON-NCUA Vice Chair JoAnn Johnson laid out three of maybe a dozen provisions to be included in the highly anticipated update to the agency's member business lending rule during a CUNA Governmental Affairs Conference general session. Johnson's proposal, among other things, will: * Exclude the purchase of a business loan...

People

  • VENDORS

    Building Committee Inc., a design build firm, has named Don A'Hearn midwest sales manager. LA GARD, an electronic locking device manufacturer, has named Dan Sparks south/midwest regional sales manager. qbt Systems, an integration platform provider, has appointed Brian Bodell president.

  • MIDWEST

    Credit Union ONE, Ferndale, Mich., has named Rob Meijer Traverse City branch mortgage specialist and Samuel J. Secson Grand Rapids region mortgage specialist.

  • WEST

    Global Credit Union, Spokane, Wash., has named Pamela Judson, Terry Lynn Sjolie, and Eunice Toombs member services representatives, and Michael Reimer LAN administrator specialist.

  • SOUTH

    Charlotte Postal Credit Union, N.C. has elected the following volunteers to its board of directors: Hugh Livingston Jr., president; Phillip Kridel, vice president; George Johnson, treasurer; Barry Williams, secretary; Phillip Robinson, Edd Murphy, Judi Gore, DC Trull and Harold Harless, board directors. In addition, CPCU has elected Chuck Burch, Cam...

Letters to the editor

  • United Teletech CU Still CUANJ-Affiliated

    The article "Clark Out as Shaughnessy is Named Interim President of CUANJ; New Jersey CUs in Wait and See Mode" that ran in the Feb. 19 issue of Credit Union Times listed United Teletech Federal Credit Union with the names of a few credit unions that disaffiliated from their association...

Looking Back

  • CREDIT UNION TIMES Vol. 8, No. 10 March 5, 1997

    Looking back six years ago finds Nancy Pierce facing a packed house of GAC attendees barely containing her glee. "Ladies and gentlemen we have some good news to report. The Supreme Court of the United States has agreed to hear the credit union case," said Pierce. The jubilation was followed...

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