Credit Union Times Magazine April-07, 2004

  • NCUA to Consider Proposal Making Low-Income Student CUs Eligible for TAGs

    ALEXANDRIA, Va.-NCUA Chairman Dennis Dollar has announced that NCUA is studying whether student credit unions with low-income designations are eligible to apply for technical assistance grants and loans from the Community Development Revolving Loan Fund and the board will entertain a related proposal. Dollar stated in a letter to Campus...

  • Pennsylvania Check Cashers Agree to Limit Fees

    HARRISBURG, Pa. - State Secretary of Banking Bill Schenck announced that 84% of the check cashers in Pennsylvania that cash government checks and 87% of grocery store registrants have agreed to charge a maximum of 2.5% to cash government checks. According to Schenck's office, while many check cashers in the...

  • Difference Between Subprime Market, Abusive Lending Subject of Joint House Hearing

    WASHINGTON - The House Subcommittee on Housing and Community Opportunity and the Subcommittee on Financial Institutions and Consumer Credit, chaired by Reps. Robert Ney (R-Ohio) and Spencer Bachus (R-Ala.) will hold a joint hearing on March 30 as part of their continuing examination to define the differences between the subprime...

  • U.S. Central Debuts Revamped Board Structure; Elects Four New Directors, Names Officers

    BONITA SPRINGS, Fla. - At its annual meeting held March 25, U.S. Central elected four new board members. The make-up of the U.S. Central Board was under discussion a lot during the end of last year as part of a governance restructuring. The nine-person board now consists of seven corporate...

  • NAFCU Region II and V Seats Decided; Two At-Large Seats Up for Grabs

    ARLINGTON, Va.-Half of the NAFCU Board seats up for election this year have already been decided. Two NAFCU Board incumbents have no challengers for their seats this election, while three NAFCU members, including one incumbent, are running for the two remaining available seats on the board, according to NAFCU Director...

  • Macomb Schools & Government CU, BIS Team Up for Insurance

    CLINTON TOWNSHIP, Mich. - Macomb Schools & Government Credit Union has turned to Holyoke, Massachusetts-based turnkey insurance solutions provider Banc Insurance Services to launch the Macomb Insurance Agency. Through the arrangement the new agency will offer credit union members a full array of insurance products and services, while BIS manages...

  • Colorado Financial Services Board To Take Up FOM Expansion App from Norlarco

    DENVER - The Colorado Financial Services Board will hold a public hearing on April 23 to consider an application from Norlarco CU to expand its field-of-membership to include residents of Larimer County. According to Norlarco's application, the estimated population of Larimer County is 253,137, but the credit union estimates that...

  • CNBS to Sponsor Police Officers' CU Conference

    CHICAGO - CNBS has signed on as the premier sponsor of the Police Officers' Credit Union Conference, which will be held here at the Palmer house Hilton on July 15 and July 16. As part of the deal, CNBS will host the networking social from 3:00 pm to 5:00 pm...

  • Allegacy FCU's Personal Financial Program to `Quarterback' Other CU Services

    WINSTON-SALEM, N.C. - Billed as its Personal Financial Management (PFM) program, Allegacy Federal Credit Union's newest division will act as a "quarterback" in pairing members with a number of specialists. The new program provides analysis of a member's financial situations and will match them with Allegacy specialists in the areas...

  • SECU, ShareBuilder Help Students

    RALEIGH, N.C. - State Employees' Credit Union has teamed up with online brokerage firm ShareBuilder Securities Corporation to provide "Tools for Schools". The "Tools for Schools" program is designed to provide funding for school supplies directly to those students who need them most in the state's 117 public school systems....

  • CUNA Explains Trust Accounts in April Webinars

    MADISON, Wis. - As trust services continue to impact the credit union industry, many are needing answers to questions about opening up such accounts. The CUNA Center for Professional Development is hoping to have the answers at two Webinars on the subject. The April 14 Trust Account Webinar is already...

  • CUs Set Up Fund to Honor Jack Jenkins

    GREENSBORO, N.C. - The Piedmont Chapter of the North Carolina Credit Union League has created a fund for small credit unions in the name of the late Carolina FCU President/CEO Jack Jenkins. "Jack served as chairman of the NCCUL Small CU Task Force and committed his career to helping small...

  • Pentagon FCU Foundation Sets June Rollout on Anti-Payday Venture

    ALEXANDRIA, Va. - Pentagon Federal Credit Union said Wednesday it has selected three test areas - metro Washington, Fayetteville, N.C. and Killeen, Texas - for the rollout in June of a foundation-backed program combating payday lenders. The program, called ARK (Asset Recovery Kit) aims at allowing members for a $6...

  • BECU Links eStatement to Charity

    TUKWILA, Wash. - Boeing Employees Credit Union has found a way to tie its new "eStatement" service to a good cause. BECU will donate $3 to the Children's Miracle Network for every member who signs up for eStatements before June 30, 2004. The eStatements are electronic monthly account statements that...

  • Education CU Council Names Tulane-Loyola FCU CEO as New President

    NEW ORLEANS - The Education Credit Union Council Inc. recently named Constance Kennelly, president/CEO of Tulane-Loyola FCU as its new president. The Council is a national association of credit unions that includes educators, administrators and support staff within their fields of membership. The Council represents more than 8.3 million members...

  • Arizona Media CU Becomes First Edition Community CU

    PHOENIX - In a move designed to better represent its members, Arizona Media Credit Union has changed its name to First Edition Community Credit Union. "We were constantly hearing from people who were interested in joining but they thought the name meant the credit union was only for people in...

  • Braunstein Takes Helm of Fed's Consumer Affairs Division

    WASHINGTON - Starting April 1, Sandra F. Braunstein took over the Federal Reserve's division of Consumer and Community Affairs. Dolores S. Smith, who previously held the position, retired after 28 years with the Fed, including the last six as division director. Braunstein was appointed to the Fed's staff as assistant...

  • Fake CUs Strike in Idaho

    BOISE, Idaho - The "fake credit union scam" currently working its way around the country has hit Idaho. Idaho Department of Finance Director Gavin Gee has issued a cease and desist order against five individuals and one company for fraudulently using the name of Michigan-based Credit Union One to solicit...

  • Pennsylvania CU Association's Compliance Doctor Starts Making House Calls

    PHILADELPHIA - The Compliance Doctor now makes house calls, and the first "patient" was Eagle One Federal Credit Union. It's a new service offered by the Pennsylvania Credit Union Association to bring regulatory compliance training directly to credit unions. Instead of a credit union sending several staffers out of the...

  • OCC Preemption of State Law Subject of Discussion at SFRR Roundtable

    WASHINGTON - Federal preemption of state law is a hot button among state regulatory associations, legislators and attorneys generals, and members of the State Financial Regulators Roundtable (SFRR) had the opportunity to address the issue and exchange perspectives at a recent roundtable discussion. The March 26th meeting was facilitated by...

  • Mountain America Credit Union to Launch Trust Services Subsidiary with Local Trust Company

    WEST JORDAN, Utah - Mountain America Credit Union is the latest to launch a trust services division with plans to form a network with other credit unions seeking to offer estate management to its members. After more than a year of planning including discussions with other trust companies and alliances...

  • Light Commerce Credit Union Poised as Cornerstone for Economic Empowerment

    HOUSTON - Not every credit union ribbon cutting begins with a praise and worship service, but that's exactly how faith-based Light Commerce Credit Union began its grand opening celebration. More than 500 individuals streamed through the doors of sponsor church, New Light Christian Center Church, on a recent Saturday morning...

  • Two Former CUs Turned Banks Have A Profitable Debut on Wall Street

    NEW YORK - Two former credit unions that converted to banks made their initial showing on Wall Street very profitable. Citizens Community Bancorp (CZWI) is the stock issuing owner of Citizens Community Federal Bank, headquartered in Eau Claire, Wisconsin and Kaiser Federal Bancorp (KFED) is the stock issuing owner of...

  • Washington Postal Employees FCU Allowed to Return to Anthrax-Free Postal Facility

    WASHINGTON- After nearly two and a half years, Washington Postal Employees Federal Credit Union has returned to its office in the U.S. Postal Service's Brentwood facility in the nation's capital. WPEFCU was forced to abandon its headquarters when the postal facility where it was located was shut down after the...

  • XCU Capital Explores Adding More Firms to Offer Trust Services to CU Clients

    CARLSBAD, Calif. - Of XCU Capital Corp.'s 42,000 retail clients, it doesn't come as a surprise that not a single trust service relationship has been established with any of them since the credit union-owned broker dealer partnered with Phoenix National Trust in November 2002. Mark Allen, president/CEO of XCU Capital...

  • HUD's Guaranteed Mortgage Packages May be Sidelined, but Providers Putting Own Packages Together

    MADISON, Wis. - Credit unions that thought the U.S. Department of Housing and Urban Development's March 22nd decision to pull its proposed Real Estate Settlement Procedures Act reform rule spelled the end of incentives for Guaranteed Mortgage Packages are in for a rude awakening, say mortgage experts. Not only are...

  • Dollar's Seven-Year Tenure on NCUA Board to End April 30

    ALEXANDRIA, Va.-NCUA Chairman Dennis Dollar is finally pulling the plug on his time at the head of the federal credit union regulatory agency. As of the close of business April 30, more than a year over his allotted six-year term on the NCUA Board, Dollar will leave the agency. He...

  • Columbia Members Narrowly Retain Directors; Raucous Special Meeting Symbolic of Months of Angst

    VANCOUVER, Wash. - After an at times ugly and contentious meeting that appeared to pit the employees of Columbia Credit Union against some of its members, the eight directors at risk of recall barely escaped with their seats in tact. Although Columbia had said it would start registering attendees to...

  • After Four Decades With Dort FCU, Powers Readies For Life Without CUs

    FLINT, Mich. - Gary Powers has few regrets, but the one at the top of his short list is that after working at Dort FCU for 40 years - 21 of which were spent as the credit union's president/CEO -he gave so many hours to his job and wishes he'd...

  • San Antonio CU Recognized by "Best Lending Process That Doesn't Involve Humans" Award

    SAN ANTONIO, Texas - It may have a long name, but the award recently earned by San Antonio Federal Credit Union recognizes the credit union's innovative online process for indirect auto loans that makes it easier for members to apply for auto loans and shortens the process for them. SACU...

  • Credit Unions Reacting More Quickly to Delinquent Loans; it Takes Different Tactics to Get Members to Pay Up

    WYOMING, Minn. - Kelly Becker sees credit unions becoming increasingly willing to contact delinquent members quickly, instead of hesitating to act. That's good news as far as Becker is concerned. He's head of CU Recovery, a firm serving more than 1,400 credit unions in 22 states. Becker notes while delinquency...

  • CU Privacy Notices Already Clear and Concise, Trades Say

    WASHINGTON - In comment letters sent to NCUA, CUNA and NAFCU wrote that credit unions' privacy notices are already brief and easily understood and argued for no mandatory changes at this time for credit unions. Their official comment letters were sent in response to a joint agency request for comments...

  • CU Offers Help to Teachers Facing Layoffs, Budget Cuts

    SANTA ANA, Calif. - Orange County Teachers Federal Credit Union is trying to be at the head of the class in assisting school employees affected by budget cuts and layoffs. The $4-billion credit union, with some 300,000 members, recently launched two new programs to help financially strapped education workers. One...

  • NASCUS Comments on Reg Revisions Concerning Investment in Exchangeable CMOs

    ARLINGTON, Va. - Noting that since NCUA Rules and Regulations Part 703 authorizing investment activities for federally chartered credit unions does not apply to state-chartered, federally insured CU, NASCUS limited its comments to Part 704 of the regulation in its April 2 comment letter on proposed changes to the regulation...

  • Vermont CU Bill Heads to Commerce Committee for Mark Up

    MONTPELIER, Vt. - Members of the Vermont House Commerce Committee are scheduled to meet April 2 to review the proposed bill that would recodify the state's credit union statute and determine whether components will be passed or dropped, and if additional items will be added. The recodified statute seeks to...

  • Senate Banking Committee to Mark Up GSE Bill

    WASHINGTON - The Senate Banking Committee is scheduled to mark-up legislation on April 1 that would create a new regulator for all housing-related government-sponsored enterprises. The bill, drafted by Committee Chairman Sen. Richard Shelby (R-Ala) and ranking member Sen. Paul Sarbanes (D-Md.) would place supervision of Fannie Mae, Freddie Mac,...

  • Voting Poll Results: Majority Think Individual Profit Playing Role in CU-to-Bank Conversions

    WEST PALM BEACH, Fla. - A majority of the 887 voters in Credit Union Times' just expired voting poll believe that the potential for individual profit is driving the decision by some credit unions to convert to a bank. Approximately 55% of voters believed profit was a factor, while almost...

  • Wright-Patt Financial Group Signs Mortgage Loan Origination Agreement with Buckeye State CU

    FAIRBORN, Ohio - Buckeye State CU, based in Akron, Ohio, has become the latest Ohio credit union to sign a wholesale mortgage loan origination agreement with Wright-Patt Financial Group, a wholly-owned subsidiary of Wright-Patt CU. Under the terms of the agreement, Buckeye and WPFG will partner to provide mortgage solutions...

  • Mica Asks House Members to Show Support for CUs' Tax-Exempt Status Amidst Increasing Banker Rhetoric

    WASHINGTON-In a letter to every member of the House of Representatives, CUNA President and CEO Dan Mica has asked lawmakers to "reassure" credit unions of their commitment to credit unions' tax exemption. Following the most recent rash of banker tactics and rhetoric attacking credit unions' tax-exempt status, Mica wrote a...

  • PSCU Declares $11.7 Million Dividend

    St. PETERSBURG, Fla. - PSCU Financial Services has declared $11.7 million in patronage dividends for its more than 500 member credit unions. This is the ninth consecutive year the firm has declared dividends since becoming a cooperative in 1994. "Despite the soft economy in early 2003, we were able to...

  • New Utah CU Causes Confusion, Regulator Steps In

    SALT LAKE CITY - A recent alert from the Utah Department of Financial Institutions on a credit union it says is not state or federally-chartered has resulted in a big misunderstanding claims a company executive. New Century Technologies Inc. Chief Executive James Barrus told the Salt Lake Tribune that he...

  • WSECU CEO Takes Service to New Level

    OLYMPIA, Wash. - Washington State Employees Credit Union President/CEO Kevin Foster-Keddie helps kick off the credit union's new Yakima branch by handing out "Dough-on-the-Go". Foster-Keddie donned a chef's hat and greeted every member who used the branch's drive-up window with a bag of donuts to promote the new feature.

  • WOCCU Secures Temporary Exemption for Accounting Standards for Merged CUs

    MADISON, Wis. - Except for a few isolated cases lately, hostile takeovers and leveraged buyouts don't typically happen with credit unions and the World Council of Credit Unions wants to ensure that merger rules don't cause such scenarios. At a recent International Accounting Standard Board (IASB) meeting, WOCCU pointed out...

  • Wisconsin Bankers Association Asks Members to Calculate Back Taxes

    MADISON, Wis. - The Wisconsin Bankers Association has asked affiliated banks to figure out how much they may owe the state in back taxes under a multiyear settlement over the use of tax shelters. The amount is expected to be in the millions, including interest in as much as 18%...

  • US Federal CU Second in Minnesota to Join IRnet

    MADISON, Wis. - US Federal Credit Union recently became the 227th credit union to join the World Council of Credit Unions' International Remittance Network (IRnet). The credit union is also the second in Minnesota to join the four-year old network that allows immigrant workers to make remittances to their families...

  • NYSCUL Says Bulletproof Glass Bill Not the Answer

    ALBANY, N.Y. - The New York State Credit Union League is saying no to bullet-resistant glass requirements. Assembly Bill 9475, sponsored by Assemblywoman Cathy Nolan (D-Queens), Committee on Banks Chair would require all financial institutions to install bullet resistant glass to help protect employees from harm during a robbery. The...

  • New Online Voting Poll: Why The Increased Banker Attacks?

    WEST PALM BEACH, Fla. - Over the years banking groups have attacked credit unions in one way or the other, whether it be through legal action, lobbying or sound bites, but of late the attacks coming from banker groups has been particularly intense. Why now? Do banking groups simply use...

  • HarborOne Receives HUD Grant For Homeownership Education Series

    BROCKTON, Mass. - HarborOne CU was awarded a $35,000 grant from the U.S. Department of Housing and Urban Development (HUD) to provide a homeownership education series to Brockton Housing Authority Section 8 voucher holders. HarborOne began the homeownership counseling sessions and more than 60 participants attended a general orientation session....

  • Digital FCU Delivers Financing for Segway Human Transporters

    MARLBOROUGH, Mass. - Their steep price has made the Segway Human Transporters a novelty among a select few, but through a recent alliance, Digital Federal Credit Union is hoping to make them more accessible. The Segway, an upright, self-balancing vehicle, costs $5,000. Segway LLC has partnered with the credit union...

  • CURIA Backed by 37 Lawmakers So Far

    WASHINGTON-Four new lawmakers recently signed on as co-sponsors of the Credit Union Regulatory Improvements Act (H.R. 3579), which goes beyond the Financial Services Regulatory Relief Act (H.R. 1375) provisions for credit unions. Congressmen Tom Allen (D-Me.), Robert "Bud" Cramer (D-Ala.), Donald Payne (D-N.J.), and Thomas Tancredo (R-Colo.) all signed on...

  • Granite Credit Union in Utah is 10th to Convert from State to Federal Charter

    SALT LAKE CITY - Another Utah credit union, the $184 million Granite CU of Salt Lake City, is switching to a federal charter making it the 10th to convert since the banker-inspired tax-CU bandwagon in the state legislature got rolling in early 2003. "It is sad that we are at...

  • Empire Corporate FCU, Rhode Island CUs Team Up for "March Madness"

    WARWICK, R.I. - Thanks to Empire Corporate Federal Credit Union and Rhode Island credit unions, high school students here had a chance to participate in their version of "March Madness". This marks the 14th year the joint sponsors have hosted the Credit Union Classic High School Basketball Championships, which include...

  • Gateway CU's H.S. Branch on CNN

    AURORA, Colo. - CNN recently shone the spotlight on Gateway Credit Union's financial literacy efforts with high school students. The $175 million credit union's Kent Denver School branch was recently featured on CNN as "America's Bright Future." The program featured the credit union along with the students who run it...

  • House Passes SBA Funding Legislation Unanimously

    WASHINGTON-The House last week passed by unanimous consent a funding package for the Small Business Administration's popular 7(a) lending program (H.R. 4062). Changes in the funding structure would provide an additional $3 billion to the program, which SBA is trying to take out of the appropriations process. Earlier this year,...

  • Minnesota CU Network, CENCOPAN Sign Partnership Agreement with WOCCU

    BLOOMINGTON, Minn. - The Minnesota Credit Union Network and four representatives from the Paraguayan credit union association CENCOPAN signed a formal partnership agreement on March 25 as part of the World Council of Credit Union's Partnership Program. MCUN and CENCOPAN were paired in the fall of 2003. Their meeting with...

  • Mica Named a Top Lobbyist by The Hill

    WASHINGTON - CUNA President and CEO Dan Mica has been named a "top association lobbyist" by a Capitol Hill newspaper Mica was one of 37 association lobbyists honored by The Hill in its March 24 issue. Last year, he was named one of the top lobbyists of former congressmen. In...

  • Navy FCU on Schedule to Hire Trust Officers for Florida, Washington

    VIENNA, Va. - Nearly a month after its announcement to align with MEMBERS Trust Co., Navy Federal Credit Union is actively interviewing candidates to serve members in Jacksonville, Fla. and Washington and hopes to have trust officers on board in April. A candidate to serve members in the Norfolk, Va.-area...

  • Growing Fee Income Continues to Drive CU Bottom Line, Online Survey Shows

    WASHINGTON - Courtesy pay programs are leading the way in the growth of non-interest income for credit unions, according to the latest online survey by Callahan & Associates. The survey of credit unions representing 13.5% of the industry's overall non-interest income in 2003 found that non-sufficient funds program fees were...

  • Miami CU Exec Part of Group to Pull City from $6.2 Million Financial Hole

    MIAMI GARDENS, Fla. - A seven-member committee formed to assist city officials with its $6.2 million deficit will have the expertise of Beverly Coffey, manager of North Dade Community Development FCU. The financial advisory group has been tapped to go over revenues and expenditures with a fine-tooth comb so that...

  • Indiana Credit Union League Signs JMFA for Overdraft Program

    INDIANAPOLIS - Members of the Indiana Credit Union League can being offering their own members courtesy pay services powered by the JMFA Overdraft Privilege program. The service from Houston-based John M. Floyd & Associates (www.overdraftprivilege.org) is being offered by Servicecorp, a subsidiary of the Indiana Credit Union League representing more...

  • NAFCU Chief Educates Consumers on Zero-Zero Financing on the Airwaves

    ARLINGTON, Va.-NAFCU President and CEO Fred Becker's voice could be heard on radios all over the country last week teaching consumers why zero-zero auto financing may not be the best deal for them. For the last two years, Becker explained, NAFCU has been hearing from its members who are concerned...

In Other News

  • BRANCHING OUT

    US Airways Federal Credit Union, Pittsburgh, Pa., Information Systems Supervisor Wendy Kingsland, has been elected president of the Pittsburgh Chapter of the Pennsylvania Credit Union Association. Steel Works Community Federal Credit Union, Weirton, West Virginia, has elected Kenneth W. Truax, chairman; John R. Thayer, vice chairman; and William E. Teaff,...

News

News Briefs

  • North/South Dakota League Consolidation `On Track"

    SIOUX FALLS, S.D. - The planned consolidation of the North and South Dakota Leagues by yearend is "on track" with hiring of a new president/CEO now slated for June 1, it was disclosed. The deadline to receive resumes for the position as agreed on by the joint boards of the...

  • NASCUS Encourages Abernathy to Support CU Capital Reforms

    ARLINGTON, Va. - NASCUS President/CEO Mary Martha Fortney recently penned Treasury's Assistant Secretary for Financial Institutions Wayne Abernathy a letter reiterating its support of allowing federally-insured credit unions to augment their capital by being allowed to count supplemental capital as part of their PCA-defined "net worth" and encouraging him to...

  • Hershey FCU CEO Heads Philadelphia Federal Reserve Bank CU Council

    HERSHEY, Pa. - Hershey Federal Credit Union President/CEO Diana Roberts has been appointed to serve as the chair of the Federal Reserve Bank of Philadelphia's Credit Union Council. Consisting of CEOs from Pennsylvania, New Jersey and Delaware, the 12-member council provides input and feedback to the Federal Reserve Bank on...

  • CU Rep Named to FASB Small Business Advisory Committee

    NORWALK, Conn.-Scott Waite, chief financial officer for Patelco Credit Union, was recently named to the Financial Accounting Standards Board's new Small Business Advisory Committee. The 24-member committee was established to increase the small business community's involvement in developing U.S. accounting standards. Committee members include lenders, investors, analysts, and preparers of...

  • CUs Gear Up for 2004 Cherry Blossom 10-Miler

    WASHINGTON-Approximately 8,500 runners were scheduled to race through Rock Creek Park last Sunday in the 32nd annual running of the Credit Union Cherry Blossom 10-Mile Run. In Credit Union Miracle Day, Inc.'s third year as title sponsor of the run, the group, which is made up of 66 credit unions...

  • CUNA Tries to Pump Life Into Senate Reg Relief Bill

    WASHINGTON - CUNA President and CEO Dan Mica wrote a letter to Senate Banking Committee Chairman Richard Shelby (R-Ala.) encouraging the committee to get a bill passed this congressional session. The March 25 letter pointed to the House's overwhelming vote (392-25) to pass H.R. 1375, the Financial Services Regulatory Relief...

Tech Bytes

  • Two Corporates Deploy OSI's e-Commerce Banker Platform

    GLASTONBURY, Conn. - Open Solutions Inc. has landed a couple corporate credit unions as users of its e-Commerce Banker product suite, the core technology provider said. They are $4.2 billion Southeast Corporate FCU in Tallahassee, Fla., and $1.6 billion Georgia Central Credit Union in Atlanta. Southeast, 446 member CUs, and...

  • Older Americans are an Online Segment CUs Can't Ignore

    WASHINGTON - Credit unions better not forget about older Americans when designing their online banking presence. According to the Pew Internet & American Life project, the percent of Americans 65 or older who go online has jumped by 47% between 2000 and 2004. The Internet banking numbers are growing even...

  • CRM not DOA: Spending On Relationship Management Tools Continues to Rise

    NEEDHAM, Mass. - Spending on customer relationship management (CRM) technology may not be as feverish as when the new tools first hit the tech scene, but it's hardly faded away. Instead, the emphasis on CRM spending in the financial services sector has gone from investing in data stores on customer...

  • Anti-Spam Slam: Think Firm Sees Shrinking Vendor Field

    STAMFORD, Conn. - Talk about a shakeout. Gartner Inc., the global technology consulting firm, expects the field of approximately 40 enterprise spam-filter vendors to shrink to less than 10 by the end of this year. So, what should the credit union manager responsible for managing spam, and the relationship with...

  • Bankers Systems, RDS Interface on Credit Union Doc Dilemma

    ST. CLOUD, Minn. - An Indiana credit union looking for a better way to document loans has led to Bankers Systems Inc. and re:Member Data Services getting together to offer a new custom interface between their core platforms. The interface ties RDS' cuStar data processing system to the ARTA Lending...

  • IntegraSys inks Deal with Strohl for Disaster Planning

    PLANO, Texas - Fiserv credit union data processing subsidiary IntegraSys will be marketing an online disaster planning tool for credit unions as part of a new agreement with Strohl Systems, a business continuity firm. The online tool, known as PLANet, includes documentation and custom recovery procedures. PLANet can help CUs...

  • COCC and Clients Get Together On Business Resumption and Security Topics

    AVON, Conn. - Business resumption and system security were the hot topics for the latest technical forum put on by COCC for its client credit unions and community banks. One of the presenters, Everett Hanson, vice president of MIS for $1.1 billion HarborOne Credit Union in Brockton, Mass., described how...

  • FedComp Hits 900 Mark with The New Generation Platform

    FAIRFAX, Va. - In the third year after its launch, 900 credit unions now have deployed FedComp's The Next Generation data processing system, the company says. Holy Comforter-Saint Cyprian FCU in Washington, D.C., is the 900th CU to sign up to use the Windows-based open platform. The church-based CU has...

  • Analyst Finds Scattershot Approach to IT Security May Dilute Effect

    CAMBRIDGE, Mass. - As everything a credit union does for its members, from core transactions to processing payments, gets more and more exposure online, security concerns proliferate, as do the tools to meet them. While they're spending more on IT security, but how much value do organizations feel they're getting...

  • Cavion Plus Offers Single Sign-On Through E-Statement Specialist DigitalMailer

    HERNDON, Va. - Credit unions using Cavion Plus for Internet banking can now offer their members single sign-on access to their e-statements through DigitalMailer, the companies said. The first two credit unions to do so are $230 million CitizensFirst CU (www.citizensfirst.com) in Oshkosh, Wis., and $50 million Standard Register FCU...

Opinions

  • A "Personnel View" of Member Business Loans

    Many credit unions are looking for a "quick fix" to offer Member Business Loans. That translates to simply hiring an ex-banker looking for a new lease on life and telling them to run with it. That's the thinking we're seeing. In many credit unions, and (it's scary!) it's not just...

Letters to the editor

  • Blaine Did Credit Unions a Disservice-Big Time

    Relax Mike, you're were not alone! It was such a relief to see Mike Welch's March 3 column on the GAC ("GAC Again Setting for [Mostly] Highlights") and related article on the Blaine/Fergeson debate. For a while I thought we were alone out there. I was waiting for the edition...

  • CUs to Blame for Slowdown In Membership Growth

    Mike Welch's March 10th column regarding the slowdown in membership growth ("Slowdown in Membership Growth Makes No Sense") certainly makes no sense except if we look at what is taking place in many, many credit unions. I think his statement regarding loan denials and delinquency rates being too low is...

  • One Possible Reason for Low Member Growth

    Mike Welch's column in the March 10th issue is right ("Slowdown in Membership Growth Makes No Sense"). Credit unions should be doing more to bring in new members. One reason that has surfaced from time to time to explain why this hasn't happened is that joint owners on an account...

  • Value to Using In-House Created Advertising

    As a marketer with a passion for the credit union movement, I enjoyed Mike Welch's March 24 column, "From Humble Beginnings, Marketing Has Arrived.But", and I share his dismay at some things I also observed at the recent CUNA Diamond Awards. It's disturbing to think that a clip-art billboard can...

  • Give Credit Where Credit is Due, Banker Ad Well Executed

    The side-by-side ads on the front page story of the March 17 issue ("Dueling Ads: Banks and Credit Unions Take Arguments to Print") really got my attention. You don't have to agree with the bankers' position (message) to appreciate their superb ad (medium). It's masterful - great graphic, attention-grabbing color,...

Opinion

  • Credit Unions Can Help Save "Generation Debt"

    While millions of American children are away at college, are you aware how rapidly their credit card debt is growing? From the time they arrive on campus until graduation, students' overall credit card debt doubles. Amazingly, college students hold an average of four credit cards. And while student credit card...

People

  • SOUTH

    Jefferson Parish School Board Employees' Credit Union, Harvey, La., Director of Marketing Mia Perez has been elected to the CUNA Marketing and Business Development Council's executive committee. GulfWinds Federal Credit Union, Pensacola, Fla., has elected the following officers to its board: Fred Houston, chairman; R.L. Owsald, Sr., 1st vice chairman;...

  • WEST

    Eagle Community Credit Union, Lake Forest, Calif., has promoted Amy McCasland to Lake Forest branch manager and current Placentia Branch Manager Andrea Alcala to Rancho Santa Margarita branch manager. Kitsap Credit Union, Bremerton, Wash., has named Connie Rouse PSNS branch manager. Riverside County's Credit Union, Calif., has named Karen Gracia...

  • MIDWEST

    Michigan Credit Union League, Northville Township, has named Stephen Orr, compliance officer and associate counsel and Alan Babcock vice president of strategic consulting services. Security Federal Credit Union, Flint, Mich., has promoted Ginny Anspaugh to vice president communication center. Credit Union ONE, Ferndale, Mich., has elected the following officers to...

  • EAST

    US Airways Federal Credit Union, Pittsburgh, Pa., Information Systems Supervisor Wendy Kingsland, has been elected president of the Pittsburgh Chapter of the Pennsylvania Credit Union Association. Steel Works Community Federal Credit Union, Weirton, West Virginia, has elected Kenneth W. Truax, chairman; John R. Thayer, vice chairman; and William E. Teaff,...

Beyond the Job

  • Barnett Seeks Road Less Traveled for Restored Vintage Autos

    FRESNO, Calif. - In today's fast-paced world, Bruce Barnett is looking for the road less traveled. That's so he can cruise along at the 35 mph to 40 mph top speed of one of the vintage automobiles he has restored. He has restored some 22 cars since he was first...

  • Drums are Music to Ears of Wisconsin CU Shared Service Centers President

    GREENFIELD, Wis. - Some of us as children dreamed of one day playing in a rock and roll band. The president of Wisconsin Credit Union Shared Service Centers is living his dreams. Self taught, Rick Hagopian has toured internationally with Norwegian rhythm and blues songwriter Tina Lie. When he was...

  • Security Patrol: `Like a Box of Chocolates'

    SUN CITY CENTER, Fla. - When asked about the Sun City Center Security Patrol, Credit Union Times correspondent Eileen Courter frequently quotes the line from the movie Forrest Gump. Duty on the patrol, she says, "is like a box of chocolates - you never know what you're going to get."...

Marketing

Publisher's Column

  • Fraud, Dopes, Dumb, Pigs, Kudos, Cuba, Youth, and More

    It's time once again to take a potpourri look around the world of credit unions with some comments on a crazy variety of unconnected topics. In an apparent attempt to assist those actively engaged in identity fraud do a better job, a publication that shall remain nameless to protect the...

Billlionaires Club

In Memoriam

  • Pacific Marine CU Mourns Loss of President/CEO DeCarlo

    CAMP PENDELTON, Calif. - Longtime Pacific Marine Credit Union President/CEO Lou DeCarlo has died at the age of 74. DeCarlo led the $415 million credit union for over 29 years and was also serving on the Defense Credit Union Council Board. Prior to joining PMCU he served as an officer...

Publisher's Notebook

  • CEO of the Year

    There are plenty of opportunities for credit union CEOs to be recognized for their individual accomplishments. But none of the current competitions for top CU CEO honors is free of sometimes intimidating nomination procedures. Or without some sort of catorgorization. Or completely devoid of organizational politics. That's why Credit Union...

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