Credit Union Times Magazine January-07, 2004

  • Board at Washington State Employees CU Seeks to Protect CU Structure Forever

    OLYMPIA, Wash. - The board of the $1 billion Washington State Employees Credit Union has voted to change the credit union's bylaws to make it more difficult for the credit union to convert to a bank charter in the future. The board amended the portion of the bylaws that is...

  • Bush, Dollar and the American Dream

    NONE

  • ASI Sues Former United Telephone CU Officials for more than $2 Million

    ROCKY RIVER, Ohio-American Share Insurance has filed a multi-million dollar civil complaint against United Telephone Credit Union's former board of directors on several counts, including fraud. In total, the plaintiffs are seeking relief of at least $2,253,008.79 in damages in addition to punitive damages, attorneys' fees and expenses. The Ohio...

  • Board Chooses Not to Renew Ed "Buck" Levins' Contract with Robins FCU

    WARNER ROBINS, Ga. - The board of directors offered no explanation on its decision to not renew the contract of Edward "Buck" Levins for 2004, after serving 16 years with Robins Federal Credit Union as president/CEO. Levins, 62, continued to serve as CEO for the remainder of 2003, according to...

  • Another Utah SCCU, University of Utah CU, Converts to Federal Charter

    SALT LAKE CITY -University of Utah CU has become the eighth Utah state-chartered credit union to convert to a federal charter since February 2003 just prior to the March passage of a new anti-credit union state law which narrowly missed taxing credit unions for the first time. The $321 million...

  • America First Buying Wal-Mart Branches from Utah Bank

    OGDEN, Utah - In a twist on the Utah credit union/bank wars, America First FCU, the state's largest, is acquiring four Wal-Mart "in-store" branches from Centennial Bank of Ogden. The $2.8 billion America First said acquiring the in-store branches fits well with expansion plans under way for months at Wal-Mart...

  • NAFCU and the Fed's 12-year Tradition

    NONE

  • Arizona Trust Law Halted Weeks Before Going Into Effect

    PHOENIX - An Arizona law scheduled to go into effect on Jan. 1, 2004 that would require beneficiaries to be notified about trusts they have a stake in was recently stopped cold by legislators. The law will now go into effect Jan. 1, 2006. The state's Revised Uniform Trust Code...

  • Robinson, Commissioner Kentucky DFI, Former NASCUS President, Retires

    FRANKFORT, Ky. - Ella Robinson, commissioner for the Kentucky Department of Financial Institutions and NASCUS President from 1990-1991, retired Dec. 1 after a more than 20-year career with the state's DFI and service to NASCUS. Robinson was a member of the NASCUS Board from 1985-1995. During that time, she served...

  • Orlando Mayor Names Day in Honor of Central Florida Educators Federal Credit Union

    ORLANDO, Fla. - For its efforts in establishing a comprehensive disaster preparedness program for its more than 300 employees, the mayor of Orlando has proclaimed Dec. 8th `Central Florida Educators' Federal Credit Union Day.' The credit union received an award from the International Association of Emergency Managers (IAEM) during their...

  • Three Candidates Stand Out Among Possible NCUA Board Nominees

    WASHINGTON-Three candidates are leading the pack among the potential NCUA Board nominees to fill the open seat currently occupied by NCUA Chairman Dennis Dollar. Sources knowledgeable with the NCUA confirmation process have confirmed that two officials from within the credit union community and one housing regulator are heading up the...

  • Financial Partners Credit Union the CEO Joe Schroeder Resigns

    DOWNEY, Calif. - Joe Schroeder has resigned as president/CEO of $611 million Financial Partners Credit Union after eight years at the helm. Schroeder left on Dec. 17, 2003 to pursue other business opportunities, according to a press release from the credit union. Joseph Spetz, a member of Financial Partners CU's...

  • Fed, FTC Avert Hiatus in Credit Reporting Standards, Request Comment on FACT Act Interim Regs

    WASHINGTON-The Federal Reserve Board and Federal Trade Commission jointly issued a request for comment in December on interim final rules and proposed rules concerning the Fair and Accurate Transactions Act of 2003. The FACT Act extends the federal preemptions from the Fair Credit Reporting Act dealing with consumer credit information...

  • Matz Urges Greater Financial Education Before Offering Credit

    ALEXANDRIA, Va.-In a recent op-ed published in the St. Louis Post-Dispatch, NCUA Board Member Debbie Matz advocated that American children get financial education early on so they do not become overwhelmed with credit card debt when they go to college. In the opinion piece, she says that the students and...

  • Matricula Consular Acceptable for Loans

    ALEXANDRIA, Va.-In a recent legal opinion letter (03-0964), NCUA stated that it is permissible for a federal credit union to rely on individual taxpayer identification numbers (ITINs) and the matricula consular identification cards or state identification cards to open a loan account. According to the letter, the board of Chicanos...

  • Business Lending Expected to Rev Up in 2004

    ROCHESTER, N.Y. -NCUA's new rules concerning member business lending which became effective Oct. 31, 2003 are still being digested by credit unions, but they're already drawing widespread interest and are expected to spark credit union business lending during the coming year. That's the word from C. Dennis Beaver, principal of...

  • NWA FCU, American Airlines FCU Poised to Counter Aviation Industry Setbacks Through New TIP Charters

    MINNEAPOLIS - The sting of the Sept. 11 tragedy not only wounded the airline industry through thousands of layoffs and flight cutbacks, its impact spilled over to airline-affiliated credit unions, forcing most to rethink their charters. NWA Federal Credit Union and American Airlines Federal Credit Union both applied for and...

  • Northern Schools FCU Helps Grant First Section 8 Mortgage in Alaska

    FAIRBANKS, Alaska - Despite spinal ailments and other health problems, Antonia Fandyzc was so excited about moving into her new house December 17 she spent the first night on the floor in a sleeping bag. Furnishing and decorating could wait, she figured. A coffee pot in the kitchen would do....

  • New York CUs Team With Sen. Clinton to Support Micro-enterprise in New York

    LATHAM, N.Y. - The New York State Credit Union League has joined with other organizations supporting New York's first statewide microenterprise association called MicroBizNY that was launched Dec. 10 by several upstate and downstate microenterprise organizations to promote enterprise opportunities for people and communities throughout the state. Representatives from the...

  • Schooler Takes Over for Barry at USERS; Barry Moves Up

    BROOKFIELD, Wis. - Credit union data processor USERS, a Fiserv subsidiary, has had a change at the top. Joe Barry has left the CEO position to become president of the Fiserv Credit Union Eastern Region, responsible for Fiserv's USERS, Aftech and Galaxy credit union data processing subsidiaries. Fiserv has a...

  • Supreme Court Campaign Finance Decision has Little "Im-PAC-t"; CU PACs May Even Be Better Off

    WASHINGTON-Political Action Committees, such as the Credit Union Legislative Action Council, may get a leg up on other interest groups following the Supreme Court's recent ruling upholding most of the new campaign finance law. "Overall, the legislation itself, the vast majority, was upheld by the Supreme Court," CUNA Political Director...

  • What's That, asks Larry Johnson? Running League Like `Herding Cats'

    GREENSBORO, N.C. - "Have you ever tried herding cats?" asks Larry G. Johnson, the now retired president/CEO of the North Carolina Credit Union League. Huh? What is Johnson talking about? The answer, of course, is managing a state CU league, a job he says that can become "impossible" given the...

  • Victory Masonic Mutual CU, Historic Black-owned Community CU, Merges With Truliant FCU in Unique Arrangement

    WINSTON-SALEM, N.C. - For the past six years, Truliant FCU and Victory Masonic Mutual CU have worked together to build a mutual trust in each other while concurrently crafting a partnership and successful working relationship. Now, in a strategic decision that caps off their six-year history, Victory Masonic Mutual CU...

  • Utah League Picks Ex-GOP Staffer Simpson as New President/CEO

    SALT LAKE CITY - Mindful of legislative setbacks last year in the celebrated tax fight with the banking lobby, the Utah League of Credit Unions is opting for a "political strategist" - albeit a youthful one - as its new president and CEO in 2004. He is 34-year-old Scott Simpson,...

  • NCUA Maintains NCUSIF Operating Level at 1.3% for 2004; Decides Not to Assess Premium for 2003

    ALEXANDRIA, Va.-Arguably the most important news to come out of NCUA's December Board meeting was that the insurance fund's operating level remains the same. The NCUA Board voted unanimously to maintain the National Credit Union Share Insurance Fund's operating level at 1.3%. Because federally insured credit unions remain well capitalized...

  • NAFCU's 12th Annual Meeting with Fed Upbeat; Fed Scores High Marks on their Product Sets

    WASHINGTON-While the NCUA Board was considering a number of items at its Dec. 18 meeting, NAFCU was at its annual meeting across the river with the Federal Reserve Board. NAFCU took full advantage of its 12th annual opportunity to share credit unions' point of view with top Fed officials. Federal...

  • Columbia Members Hope To Gather Enough Signatures In Time To Save Charter

    VANCOUVER, Wash. - Members of Columbia Community Credit Union who wish to force the $600 million credit union to vote again on whether to change its charter say that they have "well over" 50% of the signatures they need. A very narrow margin in the original balloting has encouraged members...

  • Close Liaison Seen as Being Essential Between Auditors and CU Supervisory Panels

    Riverdale, Utah - Open communication and a close liaison between supervisory committees and internal auditors is practical and can prove productive regardless of the 2002 Sarbanes-Oxley law, according to a top audit executive for America First Federal Credit Union in Riverdale, Utah. Retaining an open dialogue between auditors and the...

  • CFA, Other National Housing Groups Announce "Build Wealth Through Homeownership" Initiative

    WASHINGTON - The Consumer Federation along with other national housing groups have announced a new "Build Wealth Through Homeownership" initiative that's part of a broader America Saves campaign to help low and moderate income households save and build wealth. The announcement was made at a news conference last month at...

  • CUES Signs Up Harvard for 2004 CEO Education Series

    MADISON, WIS. - Aiming to prepare CEOs for "unique challenges" relating to bank attacks and mergers as well as acquiring leadership skills, the Credit Union Executives Society is looking to set up its first education linkup with Harvard University in 2004. Under a new "Advanced Leadership Institute" program for top...

  • CU Tax `Inevitable,' Predicts Retiring CEO Onesta

    DUBLIN, Calif. - Forget about credit union platitudes, talk about the "people helping people" credit union philosophy and reasons why credit unions are different from banks and shouldn't be taxed. That's some of the advice longtime credit union leader William (Bill) Onesta gave on one of his last interviews before...

  • MBA Reports Mortgage Delinquency Lowest in Three Years

    WASHINGTON - The Mortgage Bankers Association delivered an early holiday present to lenders earlier this month. The MBA's latest National Delinquency Survey, covering the third quarter 2003, found the delinquency rate at 4.28%, the lowest in three years. It was down 34 basis points from 4.62 in second-quarter 2003, the...

  • Few Saw the Sudden Resignation of Herman from Kraft Foods FCU Coming

    PURCHASE, N.Y. - A week prior to her Dec. 10 resignation at Kraft Foods Federal Credit Union, former president/CEO Holly Herman participated in a spirited Webinar discussion on clearly defining the roles of directors and CEOs through the policy governance model. "We had a lot of leaders and no clear...

  • Department Of Justice Approves First Data, Concord Merger

    WASHINGTON - In the end, the simmering fight between federal anti-trust regulators and two ATM network giants seeking to merge ended not with the bang of a judge's gavel but with the relative quiet of a negotiated settlement. In a deal announced December 15, lawyers for First Data Corporation, Concord...

  • CU Defendants File Objections to Discovery in Utah FOM Case

    WASHINGTON-NCUA filed an objection to a ruling by a magistrate judge Christmas Eve to allow for discovery in the American Bankers Association lawsuit against the agency. The other credit union defendants followed suit. The costs of discovery, including depositions from third parties, would likely tally in the thousands for all...

  • Fannie Mae Disputes Findings of Fed Study on GSE's Relationship with Fed Government

    WASHINGTON - Fannie Mae strongly disputed a recently issued preliminary report written by a staff economist at the Federal Reserve that opined that while Government-Sponsored Enterprises Fannie Mae and Freddie Mac were primarily created to provide liquidity to the national mortgage market and lower the costs of homeownership for consumers,...

  • Dueling Web Sites

    Both sides in this struggle have employed sites on the World Wide Web to try to get their points across. Soon after the Save CCU began to promote its Web site against the conversion (www.saveccu.com) Columbia added pages to its own Web site (www.columbiacu.org) promoting the move. "Despite what detractors...

  • State Lawmaker Heading Up Utah League's Foundation

    SALT LAKE CITY - In a move seen as improving ties with state lawmakers, the Utah League of Credit Unions disclosed it has on its staff a state senator put in charge of the League's year-old Education Foundation and the "100% for Kids" program. Hired to manage the foundation's school...

  • Legislation to Regulate Independent ATMs Could be on Horizon

    WASHINGTON - According to wire service reports, Senator Charles Schumer (D-N.Y.) plans to introduce legislation in 2004 that will mandate licensing and background checks for independent organizations and individuals that place ATMs. Reacting to the arrest of three men who had used an ATM fraudulently to steal $225,000 from Manhattan...

  • NCUA Assists California Earthquake Victims

    ALEXANDRIA, Va.-After a sizeable earthquake rocked central California, NCUA activated its disaster relief policy to assist credit unions and members in California's San Luis Obispo County. On the morning of Dec. 22, an earthquake measuring 6.5 on the Richter scale struck the region, which led to two fatalities. Over 90...

  • GAC Scores Coup in Shelby, Snow, Greenspan Appearances

    WASHINGTON-Senate Banking Committee Chairman Richard Shelby (R-Ala.) has been added to the growing list of speakers for CUNA's 2004 Governmental Affairs Conference. Shelby joins the GAC speaker list with Federal Reserve Board Chairman Alan Greenspan and Treasury Secretary John Snow. It will be his first address to the GAC since...

  • Graham Joins CUNA Mutual's Board

    MADISON, Wis. - Kinecta FCU President/CEO Thomas Graham has been named to the CUNA Mutual Board. Graham fills the seat left vacant by James C. Barbre, President/CEO, ACT Technologies Inc., Dalton, Ga. Graham joins the following other directors of the CUNA Mutual Board: Chairman Loretta M. Burd, President/CEO, Centra CU,...

  • Shooting at BECU ATM

    ISSAQUAH, Wash. - A man filling a Boeing Employees Credit Union ATM with cash was shot in the shoulder early in the morning of December 26, according to an account in the Seattle Post Intelligencer. The man, who was not identified as a credit union employee, was helping another man...

  • NASCUS Educates Fed on State Regulator Oversight Of SCCUs

    ARLINGTON, Va. - NASCUS accepted an invitation from Federal Reserve Board Gov. Susan Bles and met with her and several Federal Reserve Board staff the week of Dec. 8 to educate them on state regulator oversight of state-chartered credit unions. According to NASCUS, Gov. Bles and her staff were particularly...

  • Prime Alliance Solutions No Longer Wholly-Owned

    TUKWILA, Wash. - Four months after it filed a private placement memorandum with its credit union and CUSO members, Prime Alliance Solutions issued stock to 12 credit unions and CUSOs that chose to become part owners in the wholly-owned CUSO of Boeing Employees CU. The company's newest investors include: City...

  • CUNA Looking to Battles Ahead; Beefing Up State Staff

    WASHINGTON-In an effort to bolster CUNA's ability to keep up with state events, the trade group has promoted government affairs staffer Phil Drager to its state advocacy team. Drager worked for CUNA for the last five years, formerly serving as manager of government affairs, and will now serve as manager...

  • ASAE Honors NAFCU's Operation: Helping Hand

    ARLINGTON, Va.-NAFCU made the American Society of Association Executives Honor Roll for its Operation: Helping Hand program earlier this year. Operation: Helping Hand raised $80,000 for the Army Emergency Relief, Air Force Aid Society, Coast Guard Mutual Assistance and Navy-Marine Corps Relief Society. The programs provide emergency assistance to the...

  • CUcorp Partnership with Sprint Saves Members Money on Wireless Services

    NORTHVILLE TOWNSHIP, Mich. - The Michigan Credit Union League's wholly-owned subsidiary, CUcorp has partnered with Sprint to provide credit union members wireless phone services at a discounted rate. Under the agreement that will be administered by Images and Ink, a division of CUcorp, credit union members throughout the U.S. will...

  • Bush Nominates Jackson to Succeed Martinez

    WASHINGTON - President Bush nominated HUD Deputy Secretary Alphonso Jackson as Secretary of the agency to succeed Mel Martinez who resigned in December. Jackson has been Deputy Secretary for the past three years. The president described him as "an experienced executive in the public and private sectors, a man who...

  • Mica Touts CU Work on Financial Education on Radio Show

    WASHINGTON-CUNA President and CEO Dan Mica recently hit the airwaves to promote credit unions' work toward financial literacy and the need for more financial education. Mica gave an interview, which was aired Dec. 21, on Shirley Rooker's "Call for Action" radio show on WTOP in the Washington, D.C.-area. During the...

  • Three More CUs Take Their Card Portfolios to TNB

    DALLAS - Three more credit unions, two in Texas and one in Ohio, have sold their credit card portfolios to TNB Card Services and signed agent agreements with the firm to manage those portfolios. TNB Card Services is the card division of the credit union owned Town North Bank and...

  • Applicant List Down to 20

    ARLINGTON, Va. - The deadline for interested applicants to send their resumes to NASCUS for the position of president/CEO officially ended December 8, and now the seven-person CEO Search Committee is in the process of reviewing the resumes it received and narrowing the list to no more than 20 applicants...

  • Mid-States and Minnesota Corporate Complete Last Step in Merger Process

    WARRENVILLE, Ill. - Minnesota Corporate FCU and Mid-States Corporate FCU will start the new year as one corporate. The last step in the merger process was completed on Dec. 23 with Minnesota Corporate's members overwhelmingly approving the merger. The merger officially happened on Dec. 31. This merger was a long...

  • Community One FCU Becomes Equity Partner in Business Partners LLC

    LAS VEGAS - Community One FCU has become the latest equity owner in Business Partners LLC, formerly a wholly-owned CUSO called Telesis Partnerships LLC of Telesis Community CU, Chatsworth, Calif. Community One is currently the only Nevada CU that has become an equity owner in the member business lending CUSO....

  • WesCorp is First Corporate to Conduct Full Image Exchange

    SAN DIMAS, Calif. - December 18 was a historic day for WesCorp, the nation's largest corporate, as it became the first corporate to utilize full image exchange. Instead of transporting paper checks from its member credit unions to the Fed, the paper trail ended at WesCorp. Digital images of the...

  • Cold Snap Doesn't Slow Down Service

    FAIRBANKS- Alaska USA Federal Credit Union and its subsidiary, Alaska USA Mortgage Company, didn't let a little cold weather get in the way of member service. A recent cold snap in Fairbanks had members braving sub-zero temperatures for the first time in almost two years. Fairbanks is known as a...

  • Christmas Made a Little Better for Raffle Winner

    DULUTH, Ga. - It could have been a credit union CEO or a director who won the prize, but the Christmas season became a lot more exciting for Cynthia Connelly, senior vice president of advocacy for Georgia Credit Union Affiliates, the $25,000/car winner of the nationwide Dec. 12 raffle to...

  • Fear Factor Winner Invests in and Promotes SECU

    LANSING, Mich. -State Employees Credit Union member Daren Ferden has recently won $50,000 on popular NBC television show Fear Factor. The 25-year-old winner says as a credit union member for the past six years he's learned the importance of saving and wants to share the message with other young adults....

  • Former HUD Secretary Martinez Reconsiders Bid for U.S. Senate

    WASHINGTON - Former U.S. Housing Secretary Mel Martinez, who resigned in early December as the 12th Secretary of the Department of Housing and Urban Development and who initially turned down requests from the White House to run for the U.S. Senate, is giving a second thought to running to fill...

  • Senate Confirms Curry for FDIC Board

    WASHINGTON-The Senate recently confirmed Thomas J. Curry, Commissioner of Banks for the Massachusetts Division of Banks, as a member of the Board of Directors for the Federal Deposit Insurance Corporation for a six-year term. Prior to being Massachusetts' bank commissioner, Curry served as first deputy commissioner of banks and as...

  • Nevada Cooperative Ad Campaign Gaining Strength

    RANCHO CUCAMONGA, Calif. - A second year of cooperative advertising by nine northern Nevada credit unions is continuing to shift the public's perception of financial institutions away from banks and towards credit unions. What's more, an increased number of consumers included in a public awareness survey said they'd consider joining...

  • One Texas Credit Union Accounts for 10% Of State Shared Branching Transactions

    PLANO, Texas - Credit union members in the state of Texas regularly use a branch of one credit union to make roughly 10%, on a monthly basis, of all the state's shared branching transactions that are routed through the Credit Union Service Corporation, one of the nation's three nationwide shared...

  • CUNA Updates Logo for First Time in 30 Years

    MADISON, Wis. - CUNA's logo has been refreshed. The logo, which has stayed the same for the last 30 years, is taking on a more contemporary look, according to the association. The theme though will stay the same. The new logo will continue to represent two hands holding a globe....

  • Tell Us Everything

    The following are the elements which must be disclosed in any future charter change at Washington State Employees Credit Union: 1. A comparison of the existing member rights and privileges and the member rights and privileges under an alternative financial institution charter. 2. The existing financial condition of the Credit...

  • Filene Launches New Group - i3

    MADISON, Wis. - With a $60,000 sponsorship from U.S. Central, the Filene Research Institute and the Center for Credit Union Innovation have launched i3. i3 will consist of 25 CU leaders who will essentially be looking for innovations in the financial services marketplace and help get the word out in...

  • CDCUs to Get at Least 55 Vista Volunteers in 2004

    NEW YORK - In a sharp reversal from some dire predictions earlier this year, community development credit unions will have the help of at least 55 federally reimbursed volunteers from the Americorps VISTA program in 2004, according to the National Federation of Community Development Credit Unions. The 55 will be...

  • Runners Race to Register for Cherry Blossom 10-Miler

    WASHINGTON-Credit unions had no trouble meeting the maximum number of entries permitted for the 32nd Annual Credit Union Cherry Blossom 10-Mile Run. Online registration opened Monday, Dec. 15 and closed by the morning of Thursday, Dec. 18, even though the entrants were increased from 6,500 to 8,500 this year. Last...

News

News Briefs

  • Connecticut Regulator Appointed to NASCUS Board, Pennsylvania Regulator Woodward Retires

    ARLINGTON, Va. - Howard Pitkin, Administrator of Depository Institutions for the Connecticut Department of Banking, was appointed to the NASCUS Regulator Board by NASCUS Chairman Roger Little, director of the Michigan Credit Union Division. Pitkin fills the seat vacated by John Woodward who retired in December from the Pennsylvania Department...

  • U.S. Central Board Approves Governance Changes

    LENEXA, Kan. - The U.S. Central Board structure has changed. The board approved a new governance structure that calls for a nine-member board made up of seven corporate credit union CEOs and two non-corporate U.S. Central members such as leagues, CUSOs, trade associations, etc. The corporate seats will be broken...

  • Dollar Hobnobs with President Bush at Homeownership Bill Signing

    WASHINGTON-On Dec. 16, NCUA Chairman Dennis Dollar attended the signing of the American Dream Downpayment Act of 2003 celebrated at the U.S. Department of Housing and Urban Development. "As a result of President Bush's commitment for more Americans to achieve the American Dream of owning their own home, and with...

  • California League Ends Fire Relief Program with Nearly $168,000 in Grants

    RANCHO CUCAMONGA, Calif. - The California Credit Union League has concluded its program to aid the victims of the California wildfires that burned 750,000 acres in five counties in the state near the end of October. The League was able to provide 347 grants totaling $167,900 to credit union staff,...

  • CORRECTION

    In the `Finally Some Good News on Lending' story in the Dec. 10 issue, a photo of William Schenck, Pennsylvania's Secretary of Banking was mistakenly used. The photo should have been Mike Schenk, CUNA and Affiliates Vice President, Economics and Statistics, as shown here. We regret the error.

  • CenCorp Declares $400,000 Special Dividend

    SOUTHFIELD, Mich. - The $2.7 billion CenCorp declared a $400,000 patronage dividend to members last month. The dividend was to be paid as part of the dividend on Member Capital Share Deposit (MCSD) accounts in December 2003. The December dividend on that account was 6%. Including the patronage dividend, the...

  • CU Regulatory Improvement Sponsors Seek NCUA Backing

    WASHINGTON-Like basketball legend Michael Jordan to Hanes, the representatives sponsoring the Credit Union Regulatory Improvement Act (H.R. 3579) are seeking NCUA's endorsement of the bill. Congressmen Ed Royce (R-Calif.) and Paul Kanjorski (D-Pa.) have written a letter to NCUA Chairman Dennis Dollar requesting NCUA to provide its opinion of H.R....

  • DuPont Community FOM Case Court Date Scheduled

    WAYNESBORO, Va. - The DuPont Community Credit Union field-of-membership case involving the Virginia Bankers Association's appeal of a decision by the commissioner of the state Bureau of Financial Institutions to approve FOM expansion request by the credit union has been scheduled before the State Supreme Court for Jan. 14, 2004....

People

  • WEST

    USE Credit Union, San Diego, has named Phillip Goodrich senior vice president of human resources/training. Heritage Community Credit Union, Rancho Cordova, Calif., has named Brandon Ivie vice president/CFO and Celeste Martinez vice president of lending.

  • MIDWEST

    MidWest Financial Credit Union, Ann Arbor, Mich., has promoted Lora Bingham to marketing communications director and Erin Hooks to human resources manager. US Federal Credit Union, Burnsville, Minn., has promoted the following employees: Leon Eichten to senior vice president/CFO; David Hutchins to senior vice resident/chief administration officer; Marty Kelly to...

  • SOUTHWEST

    Regina Colbert has been promoted to Vice President of Operations at Otero Federal Credit Union, Alamogordo, New Mexico. Southwest Corporate Federal Credit Union, Dallas, has promoted Brad Ganey to director of item processing and named Bill Brennan manager of the Jacksonville site.

  • SOUTH

    Louisiana Credit Union League, Harahan, has promoted Jennifer Green to director of education. IBM Southeast Employees' Federal Credit Union, Boca Raton, Fla., has named David Lyons vice president of human resources and training.

  • EAST

    Member One Federal Credit Union, Roanoke, Va., has named Jonie Arrington vice president/Westlake branch manager and Leslie Ingram assistance vice president/assistant branch manager of the Westlake branch. HarborOne Credit Union, Brockton, Mass., President/CEO James Blake has been elected board director of outsourcing and software development firm COCC. American Eagle Federal...

Events Calendar

  • 2004 VENDOR CALENDAR

    JULY 15-16 Brick & Associates' Strategic Conference, Marriott, East Lansing, Mich. For info: 800-332-8188. JULY 15-18 CU Conferences' 22nd Annual Focus on Lending Conference, Marriott, Downtown Chicago, Ill. For info: John Berra, 888-465-6010. JULY 28 CU Financial Services' CU Capital Options-Bank Charter/Merger Update, Portland, Maine. For info: Alan D. Theriault,...

  • 2004 VENDOR CALENDAR

    APRIL 6-9 Telesis Community CU and Business Partners (formerly Telesis Partnerships) Business Symposium co-hosted with California CU League, Fairmont Scottsdale Princess, Scottsdale, Ariz. For info: Neal Schwartz, 800-472-1702, x 3254. APRIL 15-18 Card Service's for CU's (CSCU), Annual Meeting, Renaissance Vinoy, St. Petersburg, Fla. For info: Karen Fry, 727-536-6800. APRIL...

  • 2004 VENDOR CALENDAR

    JANUARY JANUARY 11-12 Creditors Law Centers Mopother Bankruptcy School, Basics of Bankruptcy, Embassy Suites, Las Vegas, Nev. For info: Mary Kay McCubbin, 502-587-5451. JANUARY 14 CU Financial Services' CU Capital Options-Bank Charter/Merger Update, Las Vegas, Nev. For info: Alan D. Theriault, 800-649-2741. JANUARY 13-15 Creditors Law Centers Mopother Bankruptcy School,...

Letters to the editor

  • Time for Credit Union Trades To Take Offensive

    I was pleased to read in one of Publisher Mike Welch's recent columns that he now believes that the credit union trade associations need to become more aggressive in our battle against the bankers and the banking associations. In case no one has noticed, the bankers have become ever more...

  • Recently Introduced CU Bill Makes Common Sense

    The recently introduced Credit Union Regulatory Improvement Act of 2003 (H.R. 3579) represents an important development for credit unions, and I want to commend U.S. Representatives Ed Royce (R-Calif.), Paul Kanjorski (D-Pa.), Steve LaTourette (R-Ohio), and Carolyn Maloney (D-N.Y.) for taking the initiative to introduce this landmark legislation. I also...

Publisher's Column

  • What Does 2004 Hold for Credit Unions?

    The first issue of Credit Union Times for the year means it is time once again to peer into the crystal ball for my annual credit union industry predictions for the next 12 months. No matter how credit unions are measured, impressive records will be achieved in virtually all significant...

Opinion

  • Credit Union Marketing is a Full Contact Sport

    For some credit unions, "advertising" means "marketing." But in truth, that's like saying flag football is just like NFL football. Both may be played with pigskins, but it's hogwash to say they are the same. It's time credit unions stop equating advertising with marketing and get busy playing "full contact...

In Other News

  • DONATIONS

    University of Tennessee Federal Credit Union, Knoxville, Tenn., has donated some 250 teddy bears to the Knoxville Police Department. The bears were collected through the credit union's "Credit Union Bears for Cops" program. The bears will be given to officers to use whenever they are involved in a situation where...

Tech Bytes

  • NAFCU Revamps Online Presence

    ARLINGTON, Va.-NAFCU is working to ring in the New Year with expanded capabilities for its Web site. NAFCU members are now able to log-in to NAFCU's Web site and register for events online. In addition, NAFCU has redesigned and expanded the online version of The Federal Credit Union Magazine. The...

  • Prime Alliance Solutions, LSI Reach Marketing Alliance

    TUKWILA, Wash. - Members of credit unions and CUSOs that are Prime Alliance Solutions clients now have access to 24/7 lending center services as a result of a marketing agreement the leading mortgage CUSO reached with Lending Solutions Inc., a leading provider of lending center services and consulting programs for...

  • Alliance One Launches New Site

    COLUMBUS, Ohio - Alliance One, a selective surcharge ATM Network which was developed and managed by Corporate One, has a new Web site designed to help notify cardholders of terminal locations and to help its member institutions access their information. Financial institution members can log-in to a special area of...

  • CUNA Mutual's Top IT Exec to Retire

    MADISON, Wis. - CUNA Mutual Group Chief Technology Officer Steve Haroldson has announced his retirement. Haroldson has had a 38-year career with the company, joining in 1965 within CUNA Mutual's Information Technology Services (ITS) division. Succeeding Haroldson is Rick Roy, who most recently served as SVP and general manager at...

  • FedComp Notches 800th User of TNG Platform Two Years After Launch

    FAIRFAX, Va. - FedComp Inc. said it has signed on its 800th user of the core processor's TNG (The Next Generation) platform, $2.8 million Illinois Central Railway Employees FCU in Terry, Miss. FedComp released TNG in October 2001 as a Windows-compliant data processing system available in-house or hosted, with a...

  • IntegraSys and Floyd Form Alliance

    PLANO, Texas - Credit union data processor IntegraSys, a Fiserv subsidiary, and John M. Floyd & Associates have formed a strategic alliance. IntegraSys will be adding Floyd's Overdraft Privilege program to its product menu. IntegraSys clients will enjoy reduced pricing as part of the deal. Floyd has been making a...

Looking Back

  • CREDIT UNION TIMES Vol. 8, No. 1 January 1, 1997

    Looking back six years ago finds 11 Utah credit unions filing a counter suit against the Utah Bankers Association seeking $1.5 billion in damages. The damages represent the losses the credit unions would collectively suffer if the UBA should succeed in its effort to restrict credit union membership only to...

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