Credit Union Times Magazine May-14, 2003

News Briefs

  • Arrowhead CU President Sharp Honored for Community Outreach

    LOS ANGELES - Larry Sharp, president/CEO, Arrowhead Credit Union, was recently presented with the Donald G. Hagman Award by the Southern California Association of Governments during its 2003 general assembly. Sharp was recognized by SCAG - the nation's largest regional planning organization, functioning as the Metropolitan Planning Organization (MPO) for...

  • Ogata Elected Chairman of Hawaii CU League

    HONOLULU - Ron Ogata may have retired as a credit union CEO, but he's clearly staying active in the industry. Ogata, the former CEO of HawaiiUSA FCU, was elected chairman of the Hawaii CU League at the league's recent annual meeting. Ogata retired last January after 14 years as CEO...

  • Reg Amendments on Foreign CUs, Debt Cancellation Products on Tap for Texas CU Commission Meeting

    AUSTIN, Texas - The nine-member Texas Credit Union Commission will take up and consider the adoption at a special meeting May 19 two proposed amendments to the state's credit union rules and regulations concerning foreign credit unions and debt cancellation product parity with federal credit unions Commissioner Harold Feeney said...

  • VISA Settles Interchange Suit With Retailers

    SAN FRANCISCO- Late in the evening of April 30, negotiators for VISA and the coalition of leading retailers reached a reportedly $2 billion settlement in their long-standing dispute over interchange rates and the honor all cards rule. VISA's settlement in the case follows by a day a similar settlement by...

  • Oregon CU Tax Bill and Public Funds Bill Should Not Be Merged, says CUAO

    SALEM, Ore. - The four-member team of Oregon credit union lobbyists who testified May 2 in front of the state House of Representatives on a bill introduced by the Oregon Bankers Association to impose a corporate excise tax on CUs with more than $100 million in assets, made it clear...

  • Iowa Bank in the Middle of CU Tax Battle Sold to New Owner

    DES MOINES, Iowa - Hawkeye State Bank, which made headlines in January when the University of Iowa Community Credit Union (UICCU) tried to purchase it and wound up touching off an attempt by state bankers to tax CUs in the state, has a new owner. The bank was bought by...

  • House Subcommittee to Mark up Three Bills to Increase Homeownership

    WASHINGTON - The House Financial Services Housing Subcommittee chaired by Rep. Bob Ney (R-Ohio) met May 7 and approved up three measures designed to make it easier for low-income consumers to purchase homes. H.R. 1276 was introduced by Reps. Katherine Harris (R-Fla.) and Artur Davis (D-Ala.). The America Dream Downpayment...

Tech Bytes

  • CU Village Adds Investor

    NORTHVILLE TOWNSHIP, Mich - CU Village, a credit union-owned provider of Web site development, content management and other e-business services, has added Sunrise Family Credit Union to its list of credit union investors. The credit union is the 13th organization to invest in CU Village. Sunrise Family Credit Union's Web...

  • EDS, Harte-Hanks Partner on MRM Offering

    PLANO, Texas - EDS and Harte-Hanks have arranged to make San Antonio-based Harte-Hanks' e.Vantage member-relationship management solution available to credit union clients of the big core processor. Plano-based EDS is offering the MRM solution as an application service provider to allow remote access, the company said, as well as making...

  • Danola Reunites with Martire at Metavante

    MILWAUKEE - Paul Danola, a familiar name in the credit union data processing space, is joining Metavante Corporation, the financial technology subsidiary of Marshall & Ilsley Corporation, as EVP of its Financial Technology and Wealth Management solutions. Danola will report directly to recently named Metavante President and CEO Frank R....

  • Large CUs Taking to Online Wealth Management; AdviceAmerica Making a Splash

    FREEMONT, Calif. - Think of a pumped up version of account aggregation. That's how some are describing online wealth management. While account aggregation allows members to see all of their financial data, they can't do anything with it. Online wealth management allows members to input financial information via their CU's...

  • Patelco to Install eQueue Call-Center Networking Solution

    SAN FRANCISCO - Patelco Credit Union is installing eOn Communication Corp.'s multi-media contact center solution at the $3 billion credit union's headquarters and call centers in Atwater and Citrus Heights. The CU's member representatives handle more than 250,000 calls per month from its 190,000 members and the new system -...

  • ORCC Integrates CashEdge into Online Financial Management Platform

    McLEAN, Va. - Online Resources Corp. is rolling out what it says is the first personal financial management tool that integrates money movement transactions with account aggregation. The new solution is called Money HQ and integrates CashEdge Inc.'s aggregation and account-transfer solution into ORCC's Quotien suite of electronic financial services,...

  • XP Systems Seeking a New CEO

    MOORPARK, Calif. - Bill Anderson has stepped down as president of XP Systems, a credit union data processing subsidiary of Fiserv. According to XP Systems, Anderson is leaving to pursue other interests. He was CEO for three years. Roger Kuhns, longtime CEO of CUSA Technologies, another Fiserv subsidiary, and the...

  • Internet to give way to Totalnet, TowerGroup guru predicts

    NEEDHAM, Mass. - So long Internet. Hello Totalnet. That's what a TowerGroup's research chief calls the anytime, anywhere tech-driven environment that financial services and much else in our daily lives will inhabit by the year 2020. "While experts today refer to both pervasive computing and the ubiquity of the Internet,...

  • University of Phoenix to Offer College Credit for CUES Work

    MADISON, Wis. - The Credit Union Executives Society will be offering college credits through the University of Phoenix Online for some of its programs. The credits can then be applied toward undergraduate degree programs at the school. The programs are CEO Institute, Directors leadership Institute, CUES Management Institute and the...

Briefs

  • Images & Ink Takes Home the Gold

    NORTHVILLE TOWNSHIP, Mich. - Images & Ink, a division of the Michigan Credit Union League's (MCUL) subsidiary CUcorp, earned Gold Award honors at the Detroit Club of Printing House Craftsmen's 14th Annual Gallery of Superb Printing Competition. The Detroit Club competition recognizes excellence in creative design and printing quality produced...

  • SECURITY FCU Branding Increases Public Awareness

    FLINT, Mich. - SECURITY Federal Credit Union is basking in the glow of a successful brand campaign. According to a recent survey conducted by CTS Advertising, name recognition and general awareness of SECURITY FCU have increased in the Flint and Saginaw areas. The television commercials and print ads feature actual...

  • PSB Launches New Media Production Division

    LAKE FOREST, Calif. - PSB, The Marketing SuperSource", has formed PSB Media Productions, a new division that specializes in syndicated and custom radio and television commercials, in-lobby video and other forms of electronic media. The new division is designed to service small and mid-sized financial institutions. "In today's market," said...

  • Credit Unions Apply for CDFI Funding

    WASHINGTON - Sixteen percent of the 2003 applications for funding from the U.S. Treasury Department's Community Development Financial Institutions Fund came from depository financial institutions, including credit unions, according to the Treasury Department. The CDFI Fund received 131 applications totaling $106 million in requested grants, but the agency has only...

  • American Heritage Federal Credit Union Honors Local Hero

    PHILADELPHIA - American Heritage Federal Credit Union has presented Mike Baker with the American Heritage Award, which is presented to an individual whose selfless act exemplifies the philosophy of "people helping people." Baker became a hero by following his instincts to "do the right thing" when he heard a screech...

  • CALPIRG Report Finds Identity Theft Frustrating for Police, Victims Alike

    LOS ANGELES - A new report by the California Public Interest Research Group finds that identity theft is just as frustrating for law enforcement officers working the cases. The report, Policing Privacy: Law Enforcement's Response to Identity Theft, interviewed police and postal inspectors in the largest cities in California and...

  • Maryland Commissioner Recognized for her Support of CU's Initiative to Serve Underserved

    BALTIMORE, Md. - SSA Baltimore FCU was approved in October 2002 by the NCUA to expand its field-of-membership to include an underserved area in Baltimore, but the $260-million federal credit union recently honored state Commissioner Mary Louise Preis of the Division of Financial Regulation for her support of SSA Baltimore's...

  • CU Leaders Commune in Grand Canyon State

    PHOENIX - For more than two decades, CUNA executives have holed up annually with officials from the nation's largest credit unions and other community leaders to discuss forward-looking credit union strategy. This year's agenda focused on how to position credit unions moving into the future, the state bank attacks on...

  • Bankruptcy Reform Legislation Heading for Full Senate in May

    WASHINGTON-Senate Judiciary Chairman Orrin Hatch (R-Utah) commented last week that he plans to push bankruptcy reform legislation to the Senate floor, bypassing the committee process. The move "could save two or three months.because of the Judiciary Committee schedule," NAFCU Senior Legislative Representative Murray Chanow remarked. Bankruptcy abuse reform has been...

  • American Airlines FCU Beefs Up Counseling as its Sponsor's Financial Troubles Continue

    FORT WORTH, Texas - As its sponsor undergoes a serious shakedown teetering on bankruptcy, American Airlines Federal Credit Union has unveiled a broad-reaching counseling program utilizing loan staff to assist members in coping with "financial stress." The CU itself remains financially sound, but management has been working hard over recent...

  • 1st Community FCU Does its Part to Help With Severe Water Shortage

    SAN ANGELO, Texas - The $115 million 1st Community Federal Credit Union has taken on helping a nearby community that has begun to experience a dire water crisis According to local media, the 895 residents of Miles, Texas, which is within 1st Community's sixteen county field of membership, have been...

  • Aurum Technology Moves Down Market with Acquisition of Computer Consultants

    LAS VEGAS - Once again a credit union data processor that is focused on larger asset credit unions has acquired a processor geared to the lower end of the credit union market. Plano, Texas-based Aurum Technology, which was spun off from EDS' community banking division, has acquired Salt Lake City-based...

  • Potential NCUA Board Candidate Gilbert Gonzalez Called a Quiet Builder for Development

    ARLINGTON, Va. - Gilbert Gonzalez, the Department of Agriculture official whom industry sources say is a possible candidate to be nominated to the NCUA Board, spent most of his pre-Washington professional life quietly but passionately building partnerships for economic development, according to some of his former associates. Gonzalez, a Republican,...

  • NCUA Internal Focus Group to Explore Agency Operations' Effects on Small CUs

    ALEXANDRIA, Va.-NCUA Board Member Deborah Matz continued her support of small credit union issues by announcing an internal working group she established for addressing the specific issues of small credit unions. "Small credit unions, those under $10 million, are the icons of the credit union movement; they are what many...

  • More Credit Unions Adopting `No Hats, No Hoods, No Sunglasses' Policy to Stem Robberies

    ST. LOUIS, Mo. - To thwart would-be robbers who often wear various disguises to conceal their identities, effective May 20, credit unions and banks across the state here will ask consumers to remove hats, hoods, and sunglasses before coming inside their financial institution. The Missouri Credit Union Association (MCUA), Missouri...

  • Sun sets on Suncorp's 25th Year; Regional Status Achieved, says Kenealy

    DENVER - As SunCorp celebrates its 25th year, CEO Eric Kenealy said he feels good about the corporate's ability to establish itself as a true regional corporate, a path he believes the corporate network is moving toward. While some like to speculate on just how many corporates will be around...

  • Treasury Begins Electronic Transition for Savings Bonds; Paper Bonds Successful But Expensive

    WASHINGTON-Treasury Undersecretary for Domestic Finance Peter Fisher announced last week that EE Series savings bonds can be purchased on the Internet as the agency begins to phase out paper savings bonds for electronic versions. Consumers will be able to access their accounts through the TreasuryDirect Web site at www.treasurydirect.gov. While...

  • VISA Still on Track with Extras Program in Wake of Settlement Though Some Details May Change

    SAN FRANCISCO - VISA is still moving forward with its VISA Extras program, the mandatory rewards programs for its debit cards that is scheduled to roll out later this month, according to an association spokesman. The San Francisco- based card giant, however, is "reevaluating" the program's details in light of...

  • Utah Dual Charter System Folding as ABA Warns Again of NCUA Suit

    SALT LAKE CITY - Though not unexpected following the narrow defeat of the state's credit union tax bill in March, the dual chartering system in Utah started unraveling at a quickened pace following NCUA approval of three federal charter applications including the state's largest, the $2.6 billion America First CU...

  • Midwest CUs Starting to Assess Tornado Damage, Continuing to Operate

    CHATTANOOGA, Tenn. - Credit unions in four Midwest states are considering themselves very lucky after coming through relatively unscathed from a series of devastating tornadoes that touched down in various cities May 4-6. Newspaper and broadcast media reported stories of widespread destruction - as of May 7, the death toll...

  • CUNA Mutual Group Offers Investment Products to Puerto Rico Credit Unions, Marks First Time Outside of U.S. Borders

    MADISON, Wis. - More than one million members at 140 credit unions on the Caribbean island of Puerto Rico now have another choice for growth and income investment products, marking the first time CUNA Mutual Group has marketed such services outside of the United States. CUNA Mutual's International Division through...

  • CNBS Offering Corporate CU Owners a Way Out; Inviting CUs to Join Ownership Ranks

    OVERLAND PARK, Kansas - With more corporate credit unions offering broker/dealer services on their own or via partnerships, Corporate Network Brokerage Services' ownership may very quickly go from corporate credit unions to natural person credit unions. CNBS, a broker/dealer currently owned by 18 corporate credit unions, has a private placement...

  • In an Historic Move U.S. Central Certificate Program Available to Natural Person CUs

    LENEXA, Kan. - For the first time in its history, U.S. Central Credit Union will have natural-person credit union money on its books via a new certificate product, though the corporates' corporate is adamant that it is not out to bypass the three-tier system and will only work through corporates....

  • Industry Finding its Way Forward from Card Settlement; EFT Networks Should See Increase in Revenue

    ARLINGTON, Va. - In many different offices across the payment card industry, card executives scratched their heads trying to decipher their business environment in the wake of VISA and MasterCard's settlement with major retailers. It's been a bit like an earthquake, remarked one credit union card executive. The same basic...

  • Indirect Lending CUSO Purchases Bentley Networks' Credit Union Member Lending Colorado/Wyoming Program

    DENVER - After eight years of facilitating the processing of indirect loans for 58 credit unions in Colorado and Wyoming, Bentley Networks' CU Member Lending program for credit unions in the two states was purchased by CUILA, the Credit Union Indirect Lending Association. Effective May 1, CUILA is administering the...

  • Cooperative Hall of Fame Honors Late CUNA Chief

    WASHINGTON-A former top dog at CUNA was inducted into the National Cooperative Business Association's Cooperative Hall of Fame last month. The late Herb Wegner was honored posthumously at a ceremony that took place at the National Press Club in Washington, D.C. April 30. Current CUNA President and CEO Dan Mica...

  • Chatfield Calls ABA's Priorities `Super Misplaced'

    RANCHO CUCAMONGA, Calif. - Perhaps credit unions should be flattered that bankers consider them a bigger threat than money-laundering that supports international terrorism, but the California Credit Union League says bankers' priorities are `misplaced.' The California Credit Union League obtained a copy of the American Bankers Association's "Government Relations Priorities...

  • Bankers' Support of Sub S Legislation Highlights Hypocrisy, say CU Trades

    WASHINGTON-Congressman Clay Shaw (R-Fla.) introduced legislation April 30 to update the Internal Revenue Code to ease the tax burden on Subchapter S entities, including banks. As banks continue to lobby in support of their own tax relief, CUNA Vice President of Communications and Media Outreach Pat Keefe said the push...

  • Familiar Face Promoted to New NCUA Deputy Executive Director

    ALEXANDRIA, Va.-NCUA has tapped Senior Staff Attorney Mike McKenna to become the agency's new deputy executive director. McKenna worked as a temporary executive assistant for both former NCUA Board Member Geoff Bacino and Board Member Deborah Matz, which helped broaden his experience at NCUA. "He was just a terrific choice....

  • Volunteer-run Alaska Credit Union League's Annual Meeting a Hit

    KETCHIKAN, Alaska - The Alaska CU League may only have 13 member credit unions, but it knows how to put on quite a conference. The League, now run solely by volunteers, recently wrapped up its 29th Annual Conference in Ketchikan, Alaska, a city in Southeast Alaska of just 11,000 people....

  • ABA Anxious to get their Opinion on MBL Proposal to NCUA; Says Rule Contrary to Congressional Intent

    WASHINGTON-Nearly a month before the June 3 deadline, the American Bankers Association has submitted its comment letter to NCUA on the proposed member business lending regulation. In the first paragraph of the letter, ABA Executive Vice President Edward Yingling wrote, "ABA strongly opposes the proposed changes in NCUA's Member Business...

  • What the Agreement Changed

    Prior to the settlement, if a retailer wanted to accept VISA or MasterCard as payment for their goods or services, they had to also accept the card associations' debit cards. When they did so, they faced paying an interchange rate on that transaction comparable to the rate for credit card...

  • Harborstone CU Getting Ready to Launch Small Biz Banking Unit

    TACOMA, Wash. - Everything continues to go as planned for Harborstone CU to launch its business banking unit in October. Harborstone CU, the third largest credit union in Washington State with $550 million in assets, is already offering small business investment services through its CUSO, Harborstone Investment Services. The CUSO...

  • Updike Leads CU Crew in Offshore Sailboat Race to Benefit Children's Miracle Network

    TORRANCE, Calif. - Credit unions will go to any length - even ride the high seas - to raise money for charity. Honda Federal Credit Union President/CEO Jim Updike led a crew of six credit union people in an offshore 140-mile sailboat race from Newport Beach, California to Ensenada, Mexico,...

  • Two CU Reps Appear on Panel for SSCRA Special Military Forbearance

    WASHINGTON-Two credit union and several mortgage services representatives took the podium at a press event May 7 announcing Fannie Mae's special mortgage forbearance rights for military personnel on active duty. "Navy Federal Credit Union applauds the actions taken today by Fannie Mae, Freddie Mac and HUD. By their actions, they...

  • Giving Active Duty Personnel Their Due

    Two major military CUs - Navy FCU and Pentagon FCU - were part of a special May 7 press conference by Fannie Mae announcing special mortgage forbearance rights for military personnel on active duty. In this shot Navy FCU EVP Louis W. Jennings (left) speaks with Captain Stephen M. Wellock,...

  • State National Insurance goes Nationwide

    FORT WORTH, Texas - State National Insurance Company is now available in all 50 states and the District of Columbia. New Hampshire has recently granted SNIC authorization to write fire, allied lines, marine, casualty, fidelity, surety, credit, mortgage guaranty, bonds, financial guaranty and liability-including workman's compensation. "Gaining approval in New...

  • CNBS: Historical Perspective

    CNBS was created in 1989 to give credit unions a credit union industry option for broker/dealer services. It was originally owned by U.S. Central, CUNA Mutual Group and CUNA Service Group. In 1996 U.S. Central became the sole owners. Then in 1998 it was spun off and owned by corporate...

  • Virginia's First CU Mall Opens

    RICHMOND, Va. -Call Federal Credit Union, Connects Federal Credit Union and Richmond Federal Credit Union have made history by opening the state's first "Credit Union Mall". When Call FCU outgrew its Hull Street branch, the board and management decided that if a new branch was to be built then it...

  • Leave Well Enough Alone, Fed Decides

    WASHINGTON-The Federal Open Market Committee decided to maintain the federal funds rate target at 1 to 1.25% due to disappointing economic indicators from April. Production and unemployment proved disappointing last month, even taking the war in Iraq into consideration, according to a statement from the FOMC. "However, the ebbing of...

  • FCU Employees are not Investment Advisers.Except When They Are

    ALEXANDRIA, Va.-A federal credit union employee cannot provide investment advice or affect securities transactions that would bring the employee or institution under federal or state securities laws, a recent NCUA legal opinion letter read. Unless, of course, they are a shared employee with a broker, dealer or adviser. "FCU employees,...

  • NACHA Designates May `National Direct Deposit, Direct Payment Month'

    WASHINGTON - NACHA - The Electronic Payments Association has designated this month as National Direct Deposit and Direct Payment Month, and is promoting an educational campaign to market and raise consumers' awareness of direct deposit. According to NACHA data, the number of direct deposits in 2002 increased 4.8% to 3.9...

  • First Resource FCU Continues Out-of-State Merger Trend

    ST. JOSEPTH, Mich. - First Resource FCU, the sixth largest federal credit union in the state, is showing no let up in its habit of merging with out-of-state credit unions. In its latest move, the $350-million FRFCU merged with $3.1-million Marion FCU in Ohio. First Resource FCU is a multi-state...

  • Soldiers' and Sailors' Amendment Approved Unanimously in the House

    WASHINGTON - Legislation amending the Soldiers' and Sailors' Civil Relief Act of 1940 was passed by the House May 7 by a vote of 425-0. H.R. 100, introduced Jan. 7, would rename the act the Servicemembers' Civil Relief Act and revise some civil protections that service members enjoy while on...

  • Southeast Corporate Elects New Directors

    BELLEAIR, Fla. - The $4 billion Southeast Corporate recently elected its new directors at its 26th Annual Meeting held at the Belleview Biltmore Resort & Spa here. Ron Gracie, president/CEO of Coastline FCU in Jacksonville, Fla., and Joe Mangum, president/CEO of Mississippi Telco FCU in Pearl, Miss., were each re-elected...

Letters to the editor

  • Board Member Characterizations Not Familiar

    I just read Mike Welch's April 16th column entitled, "Recognize Any of These CU Board Members?" and was surprised at the way in which he categorized typical past or present board members. While I can't speak for previous boards at my CU (I've only been CEO for 2 years), I...

  • Another Possible Response to Banker Rhetoric

    I enjoyed Mike Welch's April 30th Publisher's column, "Time to Give Banker Rhetoric Pithy Responses." Along with his suggested responses to the bankers age-old anti-credit union rhetoric, we ought to include a tiny bit more commentary. Example: "You are wrong, the only for-profit corporate organizations which avoid paying taxes are...

  • Well-deserved Accolade for Melchionda

    I was so pleased to read Paul Gentile's article in the April 30th marking the 25-year milestone of EasCorp ("Melchionda Hit the road With Determination and Savvy to Sell CUs on the Corporate Concept"). Paul shared a story of one of our credit union leaders and highlighted the tenacity and...

Publisher's Column

  • All-Volunteer Alaska League Is Alive and Well

    The Alaska Credit Union League is alive and well despite what I wrote in this space a couple of years ago when its leadership decided to convert to an all-volunteer operation with no paid staff whatsoever. Here's some of what I said in that column: "The Alaska Credit Union League...

Publisher's Notebook

  • Newsworthiness Is Key

    Sending a Credit Union Times reporter or correspondent to one of the hundreds of credit union meetings and conferences held every year involves a big commitment of time and budget. Yet, the decision regarding which ones to cover entails a much more important consideration. It's not location either. The educational...

People

  • EAST

    Citadel Federal Credit Union, Thorndale, Penn., has named Gregory DiFonzo senior accountant. KSW Federal Credit Union, Waterville, Maine, President/CEO Anne Boulette has retired after 35 years of service to the credit union movement. Boulette began her career as a teller and wound up CU president. Boulette says she will miss...

  • SOUTHWEST

    Mobiloil Federal Credit Union, Beaumont, Texas, has elected the following officers to its board: Richard Hegele, chairman; Paul Wheelington, 1st vice chairman; Tony Lucenti, 2nd vice chairman; Floyd Price, secretary/treasurer; and Scott McCauley, supervisory committee chairman. In addition, the credit union has elected the following board directors: Ronnie Cessac, Giacomo...

  • IN MEMORIAM

    Michigan First Credit Union, Detroit, Mich., has announced the passing of longtime dedicated volunteer Louise Cabell-Smith. Cabell-Smith, a board member for more than 17 years, was a staunch credit union supporter. In addition to her devotion to the movement she was very involved in her community, volunteering for organizations such...

  • WEST

    Educational Employees Credit Union, Fresno, Calif., has promoted Julie Mattern to executive vice president branch operations/loan administration; Natalie Tomajan to vice president branch operations; Darlene Andris to credit manager; Joanne Lockhart to Clovis branch manager III; and Charlie Hyatt to Van Ness branch manager II. Columbia Credit Union, Vancouver, Wash.,...

  • MIDWEST

    Affinity Plus Federal Credit Union, St. Paul, Minn., has promoted Jed Meyer to director of lending. Heritage Credit Union, Madison, Wis., has elected the following officers to its board: Marvin Felton, chairman; William Kuter, vice chairman; James Jerving, secretary and Richard McGrath, treasurer. In addition, HCU has elected Daniel Ott...

News

Opinion

  • e-mail Marketing: What's in a Strategy Anyway?

    E-mail marketing is fast becoming an integral component in the overall delivery channel mix for credit union marketers. So what's all this buzz about, anyway? E-mail marketing is cheaper and faster .... but is it better? With the average consumer getting 110 junk e-mails per week (Source: Forrester Research 2003),...

Billlionaires Club

  • Young, Educated Membership Drives Technology Credit Union

    SAN JOSE, Calif. - Okay, so the dot.com slump has hit Silicon Valley and times are tough. At Technology Credit Union, total membership stagnated last year as the flow of new members from sponsoring companies shrank by half. Consumer loan volume dropped. The ratio of loans to deposits shriveled to...

In Other News

  • DONATIONS

    Truliant Federal Credit Union, Winston-Salem, N.C., call center representatives recently worked on building team spirit by donating their time to bring cheer to the elderly. Calling themselves " April's Angels" staffers visited with residents of Vienna Village Retirement Community for an afternoon of bingo complete with prizes from the credit...

  • SCHOLARSHIPS

    St. Anne's Credit Union, Fall River, Mass., has awarded $1,000 scholarships to 12 local high school students. The recipients were selected for their outstanding achievements both in school and in the community. Merck Sharp & Dohme Federal Credit Union, has presented its Raymond O. Hoffman Memorial Awards to five high...

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