Credit Union Times Magazine January-21, 2004

News

  • Why Care What Pulse Thinks?

    PULSE is the only ATM and EFT Network in the country that is owned by members who are both banks and credit unions. Credit union and bank CEOs sit on PULSE's board and the association has traditionally used their presence to help it define and articulate positions which it believes...

  • Battle Continues at CCU

    At press time, members of Save Columbia Community CU were set to deliver their signed petitions to the CU. See page 4 story.

  • VISA Readying Roll Out of VISA Extras For Small Business

    SAN FRANCISCO - VISA USA has begun to roll out its VISA Extras rewards program for small business credit and debit cards. Beginning on January 14, VISA is rolling out a six-month advertising campaign designed to promote the program to small business cardholders. The program is the only part of...

  • MasterCard Firing Back At Wal-Mart Over Debit Exclusion

    PURCHASE, N.Y. - With a little more than two weeks remaining before its signature debit cards are banned from Wal-Mart stores, MasterCard has fired back. A survey the card brand commissioned with the Harris opinion research firm found that nearly two-thirds (63%) of respondents say their feelings toward a store...

  • Serlo Leadership Part Of New Book

    ST. PETERSBURG, Fla. - David Serlo, CEO of PSCU Financial Services, the card services cooperative serving over 500 credit unions which process their card transactions with First Data Corporation, has been recognized in The Attitude of Leadership a new book on leadership written by Keith Harrell, a popular speaker on...

  • ASI FCU's Newest Weapon Against Payday Lenders: A POS Payroll Cards for its Low-Income

    NEW ORLEANS - ASI Federal Credit Union likes to consider itself a trailblazer when it comes to serving low- income members, and now the $185 million CU is charting new ground with a payroll card being rolled out this month. The ATM/debit-based card is being pilot tested with a 20-employee...

  • Kessler Clarifying Brokerage Role

    BOSTON - Kessler Financial Services, long considered a brokerage firm with ties to credit card giant MBNA, should more properly be understood as MBNA's business development arm when it is working with credit unions, according to Steven Fuld, Senior Vice President of the Boston-based company. "In the area of affinity...

  • VISA Branded Gift Cards Now Improved

    SAN FRANCISCO - VISA USA has announced that merchants participating in a new service with the card association can let consumers know at the point-of-sale how much money remains on their VISA branded gift cards. Consumers shopping at participating retailers, which most recently includes Best Buy, will now see the...

  • More Americans Resolve To Get Out of Debt Than To Lose Weight

    ISLANDIA, N.Y. - For the first time ever more Americans resolved to start off the New Year by getting out of debt than by losing weight, according to a consumer survey by Cambridge Consumer Research. "More than one quarter (28%) of all Americans say getting out of debt is their...

  • VISA, CFA Find Financial Difficulties a Fact of Life in Female-Headed Households

    WASHINGTON-The Consumer Federation of America and VISA USA discovered that households headed by women earn about half the salary and hold one-third the net wealth of otherwise headed households, the organizations revealed at a Jan. 12 press conference. A joint study of Federal Reserve Board data collected by its Survey...

  • Federal Reserve Bank In Atlanta to Host Remittance Conference

    WASHINGTON - The White House announced on January 13 that the Federal Reserve bank in Atlanta will sometime "later this year" host a summit dedicated to cutting the cost of sending money to Mexico and other Central and South American countries in half. The conference will specifically focus "on establishing...

  • Upstart Card Brokerage Firm Has A Pretty Good 2003

    PETERBOROUGH, N.H. - Brookwood Capital, perhaps the youngest and least recognized of the credit card portfolio brokers, reported having facilitated the sale of between 10 and 12 credit card portfolios in 2003, roughly half of them representing credit union sellers according to Tim Kolk, Brookwood's Managing Partner. The firm's other...

  • PULSE Leader Says Both Credit Unions and Banks Need To Pay More Attention to Payments From Here On Out

    ARLINGTON, Va. - Both banks and credit unions need to pay more attention to payments and to the changes that are taking place in the payments systems across the nation, argues Stan Paur, CEO of the Houston-based PULSE EFT Association. "When I go to bank or credit union meetings," Paur...

  • Special Report - EFT: Credit/Debit/ATMs

    NONE

  • Denver CU Plans Stored Value Card in New Low Income Branch

    DENVER - Citing its role to serve the "unbanked and underserved," Denver Community Federal Credit Union has revealed plans to open a low-income branch next fall that will offer check cashing to non-members while also utilizing a stored value card. The new branch, located in a Hispanic area of Denver,...

  • PSCU Makes Good On Insurance Suit Threat Against AIG

    ST. PETERSBURG, Fla. - PSCU Financial Services, the card services cooperative for over 500 credit unions that process their transactions with Denver-based First Data Corporation, has followed up on its previous threat to file suit against the insurance firm that had written the cooperative a policy covering losses due to...

  • Card Payment Growth Continues to Accelerate; Debit Cardholders Tend to Be High Volume Users

    WASHINGTON - A landmark study of consumer habits conducted by the American Bankers Association and Boston-based Dove Consulting has found that all types of debit transactions have continued to whittle away the percentage of payments held by cash and checks, and that the decline in those two older forms of...

  • MasterCard Starts To Tap Debit Flows

    PURCHASE, N.Y. - Beginning on January 1, MasterCard has begun to assess a three basis point fee on all their debit transactions, using MasterCard branded cards, whether validated with a personal identification number or with the cardholder's signature. The .03% Debit Investment Fee is meant to help MasterCard market its...

  • Special Report: EFT: Credit/Debit/ATMs

    The EFT arena has become a sector of change and evolution. See how the latest changes affect credit unions in the special report on pages 20-28.

  • NJCUL Offers Low-cost Creative Marketing Services To CU Members Through New Department

    HIGHTSTOWN, N.J. - In its latest effort to improve member services and increase the reach of the credit union message, the NJCUL has created a marketing services department that will offer affordable creative media services to New Jersey credit unions. "There's a real need out there for credit unions to...

  • New Jersey League Selects Rep. Garrett for Congressional Legislator of the Year Award

    HIGHTSTOWN, N.J. - U.S. Rep. E. Scott Garrett (R-5th District) has been selected by the New Jersey Credit Union League to be the first recipient of the league's Annual Congressional Legislator of the Year Award. Garrett, who is a member of Wright Patman Congressional CU, serves on the House Budget...

  • Amid Cuts, Proposed California Budget Offers Boost in DFI Funding, Staff

    SACRAMENTO, Calif. - Despite some $4.6 billion in cuts proposed by California Gov. Arnold Schwarzenegger in his 2004-2005 budget, the state's Department of Financial Institutions (DFI) came away with an increase in both funding and personnel. Schwarzenegger's $99.1 billion spending plan calls for an increase of $1.9 million and 20.9...

  • Almost Twice the Number of CUs Leave Credit Card Business in 2003

    ARLINGTON, Va. - The pace of credit unions deciding to get out of the direct credit card issuing business appears to be accelerating as more and more take hard looks at their priorities and costs in capital and other resources of maintaining a credit card program on their own. Almost...

  • Arkansas Credit Unions Battle Proposed Services Tax

    LITTLE ROCK, Ark. - Banks and credit unions here have found a common cause - a battle against a proposed state tax on services, including a wide range of banking activities. If passed, HB 1029 and HB 1030 would tax fees for transferring funds from one account to another, stop...

  • CUNA, NAFCU Give Thumbs Up to FACT Act Effective Dates

    WASHINGTON-CUNA and NAFCU each wrote the Federal Reserve Board and Federal Trade Commission to endorse the recently proposed effective dates for certain provisions of the Fair and Accurate Credit Transactions Act. The agencies previously requested comment on a proposed effective date of March 31, 2004 for changes in the law...

  • Utah AG says Bank/CU Clash Hurts War on ID Theft

    SALT LAKE CITY - The long-running clash between banks and credit unions is hampering the fight on identity theft and hindering progress on developing a common database, Utah Attorney General Mark Shurtleff has complained. "They fight like cats and dogs, and so when they sit down at the table they...

  • Retirement, Pension Groups Critical of SEC Mutual Fund Trading Cutoff Proposal

    WASHINGTON - More than 100 trade groups and other retirement plan advocates voiced their concerns with an SEC proposal that would require mutual fund investment requests be submitted to the fund by its closing time, typically 4:00 p.m. The groups are worried the SEC proposal would force sponsors to "cut...

  • Corporate Central Enlightens Wisconsin Congressmen on the Role of Corporates

    HALES CORNER, Wis. - Some corporate leaders admit that the average member of Congress might not be aware of what a corporate credit union is, but they're working on changing that. The Association of Corporate Credit Unions has a new program in place to try and get members of Congress...

  • ICBA Bashes NCUA Response to GAO Report

    WASHINGTON-Following the release of NCUA's response to a recent General Accounting Office study on the state of the credit union community and its regulator, the Independent Community Bankers of America issued a statement expressing dissatisfaction with NCUA's letter. "Once again, the NCUA and the credit union industry seem to be...

  • No Credit Union Legislation on Horizon in Senate in 2004, Says Utah's Sen. Bennett

    SALT LAKE CITY - With a Presidential election year and a full legislative plate in 2004, the U.S. Senate does not appear ready to take up credit union issues, according to Utah Sen. Bob Bennett (R. Utah). In a press release issued by the Utah League of Credit Unions, the...

  • Most 401(k) Participants Don't Know How Much They Contribute

    CHARLOTTE, N.C. - The majority of 401(k) participants are clueless when it comes to the amount they contribute to their retirement plans but the majority of plan sponsors feel more, ongoing education updates could help the uninformed. This, according to a new survey from ICC Plan Solutions, a provider of...

  • SBA Shuts Down 7(a) Program, Then Quickly Opens it Back Up; Program Becoming Very Popular Among CUs

    WASHINGTON-The U.S. Small Business Administration reopened its 7(a) loan program Jan. 14 after a temporarily halt with an additional $470 million in lending authority and a $750,000 loan cap. Short of funds because of Congress' failure to pass the omnibus appropriations bill, SBA temporarily halted 7(a) guarantees on Jan. 6....

  • Retirement Not in the Cards for Former Robins FCU President/CEO, CUNA Chairman Buck Levins

    MARSHALLVILLE, Ga. - Ed "Buck" Levins isn't ready to throw in the towel just yet, nearly a month after leaving his post as president/CEO of Robins Federal Credit Union. For reasons still not known, the credit union's board of directors chose not to renew Levins' contract for 2004, replacing him...

  • NCUA Chairman Provides Overall Endorsement of CURIA; Membership Participation In Thrift Conversion Should be Higher Than 20%

    ALEXANDRIA, Va.-NCUA Chairman Dennis Dollar offered a few small modifications but overall resoundingly endorsed the Credit Union Regulatory Improvement Act (H.R. 3579) in a letter responding to its authors' request for the agency's point of view. "We certainly recognize the need for ongoing modernization and clarifications of the Act and...

  • NCUA Chairman Dennis Dollar

    Age: 50 Replaced: Shirley Bown Immediate Previous Employment: CEO of Gulfport VA Federal Credit Union Term: Expired April 2003 CUT: What do you think are your biggest accomplishments on the board so far? During over six years on the NCUA Board, I believe we have accomplished substantive and much needed...

  • The Anatomy of a Credit Union Turnaround; Michigan First Had to Embrace Change to Right the Ship

    DETROIT - Nearly three years ago, members at Michigan First Credit Union were used to hour-long waits in teller lines and waiting up to a week to hear the status of their loan applications. The credit union faced a possible exodus of members if changes weren't made soon and implemented...

  • TopLine FCU, Mid-Hudson Valley FCU Turn to Community Ties for Marketing Inspiration

    WEST PALM BEACH, Fla. - Credit unions interested in fresh ideas for their marketing campaigns may want to consider plugging into their communities . Whether as a thank you or simply as a creative way to connect with members, some credit unions are looking to showcase their members' talent in...

  • WOCCU Pushes for Further Changes In Basel Accord to Take Credit Union Structure into Account

    MADISON, Wis. - Concerned that provisions in the Basel II (New Accord) capital standard regarding the treatment of loan loss may create a disadvantage for small financial institutions like credit unions, the World Council of Credit Unions submitted comments last month on the Basel Accord's most recent proposal. WOCCU's comments,...

  • Virginia CUs, ABA's Leggett File Comments on Virginia DFI FOM Proposal

    RICHMOND, Va. - Considering there are about 70 credit unions in the state, the seven comments from credit unions that were filed with the Virginia State Corporation Commission in support of the agency's proposal to allow state-chartered credit unions to adopt underserved areas as part of their field-of-membership, may seem...

  • Vice Chair JoAnn Johnson

    Age: 54 Replaced: Yolanda Wheat Immediate Past Employment: Iowa State Senator, chair of the Senate Ways and Means Committee and the Commerce Committee Term: Expires August 2007 CUT: What do you think are your biggest accomplishments on the board so far? My term at the NCUA has been extremely rewarding...

  • NCUA Board Member Debbie Matz

    Replaced: Geoff Bacino Immediate Past Employment: U.S. Department of Agriculture Deputy Assistant Director for Administration Term: Expires August 2005 CUT: What do you think are your biggest accomplishments on the board so far? My first two years on the NCUA Board, I crisscrossed the country meeting credit union leaders and...

  • NAFCU Kicks Off Online University; A Cost-Effective Way to Educate

    ARLINGTON, Va.-Some in credit union land have been out of school for a while and others are just getting a taste of freedom from tests, but NAFCU is hoping that will not deter them from entering University NAFCU. NAFCU is working to reach out-virtually that is-to employees of its members...

  • CUs Should Follow the Money Trail when it comes To MBLs; Small Business Ready to Grow Again

    WASHINGTON-Credit unions have really opportune timing regarding member business lending. Just as credit unions are completing their first year of complete access to Small Business Administration-backed lending programs and NCUA loosens its MBL restrictions, small businesses are gearing up for borrowing and hiring two recent studies have found. However, it...

  • Consumer Awareness of Louisiana Credit Unions Up Following Public Awareness Campaign

    HARAHAN, La. - Consumer awareness of the state's credit unions has risen by 40% following a 2003 public awareness campaign conducted by the Louisiana Credit Union League, results of a statewide telephone survey show. The campaign, the first cooperative advertising attempt by the League, featured television and radio advertisements that...

  • Columbia Members Getting Closer to Special Meeting; Former Longtime CEO Emerges as Factor

    VANCOUVER, Wash. - While it is still too soon to make predictions, it appears that members of Columbia Credit Union opposed to its attempt to become a mutual bank may succeed in preventing the proposed move. Columbia's membership voted narrowly in the fall of 2003 to change the CU's charter...

  • South Carolina CUs Solicit Big Time for `Victory Junction'

    CHARLESTON, S.C. - South Carolina credit unions led by CPM Federal Credit Union here are getting the new year off to a rousing start by contributing sizable sums to that big "Victory Junction Camp" campaign, the CU fund-raiser in the Carolinas designed to aid seriously-ill kids. "This is a phenomenal...

  • From Coffee to CU Merchandise Tennessee Valley FCU's Latest Branch Could be a Trendsetter

    CHATTANOOGA, Tenn. - For Tennessee Valley Federal Credit Union, a main branch renovation has not only made an impact here but has sparked a new approach to member service. "The whole premise behind this was to create and become a more friendly open environment," said TVFCU Marketing Coordinator Jimmy Johnston....

  • Missouri Credit Union Commission Upholds Director's FOM Expansion Decisions

    JEFFERSON CITY, Mo. - The Missouri Credit Union Commission didn't let a pending opinion written in December by the state Supreme Court recognizing bankers' standing to challenge field-of-membership expansion approval decisions, stand in their way of supporting FOM expansions granted by the director of the Division of Credit Unions. The...

  • Local TV Anchor Shifts Gears to Become Virginia CU PR Officer

    RICHMOND, Va. - Who better to spread credit union news than a popular television new anchor? Virginia Credit Union has tapped longtime local NBC-affiliate morning anchor Mark Hubbard as its new media specialist/public relations officer. After being in the television news business for 20 years Hubbard says he was looking...

  • Open Solutions Lands Another Billion-Dollar CU

    GLASTONBURY, Conn. - Credit union data processor Open Solutions Inc. has signed the $1 billion Dallas-Ft. Worth-based OmniAmerican Credit Union as a new client. Open Solutions Inc. already has a number of billion-dollar plus CU clients. OmniAmerican conducted an extensive vendor survey, with a 25-person team evaluating six other core...

  • AACUC,CUES Offer CEO Institute Scholarship

    MADISON, Wis.- The African American Credit Union Coalition (AACUC) and CUES have teamed up to offer a scholarship to an AACUC member to attend the CEO Institute program. The scholarship totals $20,700 and will pay the full tuition for all three segments of CEO Institute, including costs of rooming and...

  • Nevada FCU Finds Home in New Southwest Valley Development

    LAS VEGAS - Nevada Federal Credit Union has staked its claim in a new $120 million office/retail complex currently under construction. The $678 million credit union is the first announced tenant of the "Rainbow Sunset Pavilion" and will occupy 2,000 square-feet. The 23-acre site will be comprised of 12 buildings...

  • Filene Study Finds Mid-size CU Success Traits

    MADISON, Wis. - A recent Filene Research Institute study finds that mid-sized credit unions with high growth rates share similar management practices. According to the Management Practices and Growth at Mid-Sized Credit Unions" study, a combination of management practices appears to drive growth. Such practices range from implementing a formal...

  • SBA Approves Stanford FCU as SBA Lender

    PALO ALTO, Calif.-Another credit union has joined the ranks of Small Business Administration lender. Stanford Federal Credit Union announced last week that it was approved to provide SBA-backed loans to its membership. "With SBA, we've leveled the lending playing field," SFCU President and CEO John R. Davis said in making...

  • Citadel FCU to Shine Spotlight On Local Sports Hero

    THORNDALE, Penn.- Citadel Federal Credit Union has teamed up with Comcast SportsNet(CSN), a regional, 24-hour sports cable television network, to honor those who have touched the lives of others through their involvement in sports in the Delaware Valley. The Citadel/CSN MVP award is now a monthly feature on CSN's popular...

  • Maine CUs Hit the Airwaves with Operation Phone Home 2004

    Maine CUL Governmental & Public Affairs Manager Jon Paradise chats it up with Bangor's WABI-TV Co-Anchor Lanie Witt just before a live in-studio interview during the station's 5 P.M. Newscast. During the four-minute segment, nearly three-quarters of the state heard about the efforts of Maine's credit unions to collect phone...

  • NCUA Board Members Look Back, Forward

    With NCUA Chairman Dennis Dollar's term already expired, the makeup of the board could change at any time. Credit Union Times asked the current board members to reflect on what they feel their biggest accomplishments have been during their terms, and what they hope yet to accomplish. See what they...

  • Kanjorski Invited to Speak at CCUL Big Valley Educational Conference

    RANCHO CUCAMONGA, Calif. - Congressman Paul Kanjorski (D-Pa. ) will speak at the closing general session of the California Credit Union League's 2004 Big Valley Educational Conference. The three-day conference will be held March 18-20 at the DoubleTree Hotel, Marriott Hotel, and Monterey Conference Center in Monterey, Calif. Kanjorski, a...

  • Branch Appointed Chief Operating Officer of WOCCU

    MADISON, Wis. - As part of its plan to streamline day-to-day operations and focus on international trade association and development efforts, the World Council of Credit Unions has appointed Dr. Brian Branch to vice president and chief operating officer, effective January 1. Branch was previously vice president of WOCCU. Working...

  • Credit Union Times Ranks Tops Among CU Execs in Asset Exchange Survey

    PORTLAND, Ore. - Credit card brokerage firm Asset Exchange wanted to know what credit union publication credit union executives turn to more than any other - Credit Union Times was at the top of the list. Asset Exchange commissioned a market research firm to do an anonymous survey of credit...

  • Connecticut CU Association Search Committee Taking Apps for President Position

    WALLINGFORD, Conn. - The Connecticut Credit Union Association has begun accepting applications for the position of president/CEO to fill the spot that will be vacant when its current President/CEO Kevin Stewart leaves CCUA later this month. Last December, Stewart announced his resignation from CCUA effective Jan. 23. After more than...

  • OCC Chief Goes In for Prostate Cancer Surgery

    WASHINGTON-Comptroller of the Currency John Hawke will undergo surgery for prostate cancer Jan. 30. He is expected to make a full recovery but will have to take some time out of the office, according to OCC Spokesperson Kevin Mukri. Hawke will travel to New York City for the surgery at...

  • Pennsylvania League Reorganizes Senior Management Team

    HARRISBURG, Pa. - In what it describes as "an effort to streamline the organization and to better prepare it to meet future challenges," the Pennsylvania Credit Union Association has restructured its senior staff. Named to the Executive Management Team are: Jim McCormack, president/CEO; Bob Hinchey, executive vice president, fee services;...

  • Auto Financial Group, Membership Marketing Support Services Form Partnership

    HOUSTON, Texas - Auto Financial Group, an online provider of residual-based financing products for credit unions, has formed a partnership with Membership Marketing Support Services, a company that specializes in marketing for credit unions, to deliver a "state-of-the-art" vehicle balloon loan-financial product - MAPS - to credit unions with an...

  • Earl, ex-Utah League CEO, Considered for Colorado League Job

    DENVER - Scott Earl, the former president and CEO of the Utah League and for years a leading national spokesman defending credit unions from bank attacks, is one of two finalists for the top staff job at the Colorado Credit Union System. Informed sources on the Colorado League's search committee...

  • More Than a Third of New York State CUs Counted for Project Zip Code

    LATHAM, N.Y. - The New York Credit Union League announced that at year end 2003, the legislative districts of 37% of credit union members in the state were captured through CUNA's Project Zip Code. That translates to 1.5 million New York State credit union members and 53 credit unions. The...

  • Only One Nomination Received for CUNA District 1 Class B Board Seat

    WASHIINGTON - From the looks of it, the CUNA District 1 Class B board seat will probably go uncontested. At press time, John Prumo, president/CEO of GPO Federal Credit Union in New Hartford, N.Y., was the only candidate submitted. The deadline to submit nominations was Jan. 16. If Prumo is...

In Other News

  • AWARDS

    Norton Community Credit Union, San Bernardino, Calif., has awarded long-time member Charmaine Duncan $10,000 as winner of the Make It Green sweepstakes. Air Academy Federal Credit Union, Colorado Springs, Vice President of Marketing Karin Kovalovsky has been named one of Colorado Springs' Most Dynamic Women of 2003 by the Colorado...

News Briefs

  • Affinity FCU, AGAC Team up For Debt Protection

    BASKING RIDGE, N.J. - Affinity Federal Credit Union has joined forces with American General Assurance Company, an American International Group member company, to offer members debt protection programs. With AGAC serving as program administrator, members will now be able to protect their loans with life, disability and involuntary unemployment products....

  • GAO Study of Secondary Capital in the Works

    WASHINGTON-In June 2003, three lawmakers asked NCUA and the General Accounting Office to answer some questions they had about credit unions' capital options. NCUA responded by the September deadline but GAO simply said they had "little to contribute" in addition to what NCUA had already provided. Those three lawmakers-House Financial...

  • GAC Gears Up to Play Hardball with Matthews

    WASHINGTON-Chris Matthews, host of MSNBC's Hardball and star of NBC's The Chris Matthews Show, has accepted an invitation to speak at CUNA's Governmental Affairs Conference in February. Matthews also anchors MSNBC's election coverage. Previously, he served as Washington Bureau Chief of the San Francisco Examiner and a national columnist for...

  • Sen. Crapo to Head Up Reg Relief Effort

    WASHINGTON-Senator Mike Crapo (R-Idaho) will be taking charge of efforts to determine language for a financial services regulatory relief bill in the Senate. Though a timeline has not been established, according to NAFCU Director of Legislative and Political Affairs Brad Thaler, Crapo's staff has expressed interest in getting it done...

  • CUNA Promotes Grassroots Specialist

    WASHINGTON-Gretchen Graf has been promoted from CUNA's grassroots manager to director of grassroots and political involvement. In making the announcement, CUNA explained that the new title better reflects Graf's role in expanding the trade association's political programs. Graf has been responsible for such innovative programs as the Hike the Hills...

  • Mid-States Selects Minnesota Advisory Group Execs

    WARRENVILLE, Ill. - Mid-States Corporate has selected 11 Minnesota credit union execs for its new Minnesota Advisory Group. Mid-States and Minnesota Corporate completed their merger at the end of last year. The new advisory group is to ensure that Minnesota CUs have a voice in the corporate. Mid-States is a...

  • Virginia Supreme Court to Hear DuPont Community CU Charter Case in First-of-its-Kind Hearing

    RICHMOND, Va. - The Virginia Supreme Court is scheduled on Jan. 14 to hear the case involving the Virginia Bankers Association's appeal of a decision by the state commissioner of the Bureau of Financial Institutions to grant an application to DuPont Community CU to expand its community field-of-membership to five...

Tech Bytes

  • Empire Corporate Finds CUs Hungry for Check 21 Information

    ALBANY, N.Y. - Empire Corporate has made free Check 21 information available on its Web site (www.empirecorp.org), and credit unions are eating it up. The corporate announced that since Nov. 5 when it posted the information, it has been accessed approximately 1,100 times. The materials available include the following: *A...

  • Open Solutions Offers Solution to Help Open Systems

    GLASTONBURY, Conn. - Open Solutions Inc. is offering credit unions its Channel Management Center (CMC), a suite of software tools that allow disparate systems to communicate and open the door to a quicker, deeper knowledge of member transactions and relationships, the company says. Using industry standards for data transfer such...

  • Webinar to Focus on Big Results for Small CUs Using Technology's Tools

    WASHINGTON, D.C. - Technology can be the great leveler between small credit unions and their competitors, but knowing how to use it is the key. That's the idea behind a Webinar set for Tuesday, Jan. 27, at 2 p.m. EST by Callahan & Associates. Presidents of two sub-$50 million CUs...

  • New Jersey League Launches Governmental Affairs Online Action Center

    HIGHTSTOWN, N.J. - The New Jersey Credit Union League has launched a Governmental Affairs Online Action Center as an interactive online resource for credit unions in the state. The Action Center, which is password protected in the `Members Only' section of the NJCUL Web site, is accessible 24 hours a...

  • `Offshoring' Continues to Soften IT Market in United States

    NEW CANAAN, Conn. - Credit union IT managers should find that the market for IT professionals continues to soften, hastened by the movement of technology jobs overseas. According to the latest Quarterly Hot Technical Skills and Certifications Pay Index from Foote Partners, the "offshoring" of U.S. tech jobs has resulted...

  • Austin FCU Makes Information Portable

    AUSTIN, Texas - Austin Federal Credit Union is literally providing staffers and board directors access to credit union information on-the-go. In an effort to securely share internal credit union documents the credit union has ordered the CryptoStick from Cray, North Carolina-based Research Triangle Software. The CryptoStick is a portable encryption...

  • Domain Bank Opens Registration to .coop Users

    WASHINGTON-Credit unions and other cooperatives have been provided a new option for registering or renewing their .coop Internet addressees through Pennsylvania-based Domain Bank, Inc. "We really are pleased to have Domain Bank available for those in North America who want a local registration option," National Cooperative Business Association CEO Paul...

  • AFTECH Launches Service Bureau

    MALVERN, Pa. - In another indicator of the growing popularity of service bureau processing in credit union land, data processor AFTECH has announced that for the first time it is launching a service bureau solution, though AFTECH President Joe Antellocy said the company will take it slow until it gets...

Letters to the editor

  • Ulterior Motives in Converting to Bank Charter

    I applaud the folks who are standing up for the members of Columbia Community Credit Union and any other credit union whose board wishes to convert to a mutual stock owned bank. If it is not a get rich quick scheme by the board, I would challenge each and every...

  • CCUL Role in CUES Harvard School Deserves Credit

    Thank you for the wonderful coverage in your Jan. 7, 2004 edition of the upcoming Advanced Leadership Institute at Harvard Business School ("CUES Signs Up Harvard for 2004 CEO Education Series.") CUES feels fortunate to partner with such a prestigious university for the benefit of the industry and credit union...

  • CU Taxation Not Inevitable, Mr. Onesta

    I just finished P.J. Heller's article in the Jan. 7th issue on Operating Engineers (Local Union #3) FCU's retiring President/CEO Bill Onesta ("CU Tax `Inevitable,' Predicts Retiring CEO Onesta"), and am not sure how you can say that Mr. Onesta remains upbeat about the future of credit unions, when he...

Opinion

Publisher's Column

  • Well-Intended CU Board Actions Can Backfire

    If the primary responsibility of a credit union board of directors had to be boiled down into a single statement, it might read something like this: "To do whatever is in the best interests of the credit union's membership." As the policymakers of the credit union, every member of the...

Staking Out the Stats

  • STAKING OUT THE STATS

    According to a recent Mediamark Research survey, while some 68% of teens age 12 to 19 say they decide how they spend their own money, only 12% agree with the statement "credit cards are great". Here is a look at some other findings: * 59% believe "Credit cards are dangerous...

People

  • SOUTH

    Volunteer Corporate Credit Union, Nashville, Tenn., has promoted G. Janice Miller to vice president of consulting. Memphis Area Teacher's Credit Union, Tenn., has named Judy Bell senior vice president of administration.

  • WEST

    Meriwest Credit Union, San Jose, Calif., has named Mark Antonioli vice president of lending and collections. Columbia Credit Union, Vancouver, Wash., has named Brian Fleetwood vice president/ commercial loan officer. Credit Union Association of Oregon , Beaverton, Ore., has promoted Amy Drew to director of communications. Washington State Employees Credit...

  • SOUTHWEST

    Security Service Federal Credit Union, San Antonio, has named LeeAnn Jackson North Star Mall Service Center manager. City Credit Union, Dallas, has promoted Amy Ecker Ramirez to vice president of marketing and business development Unity One Federal Credit Union, Fort Worth, Texas, has promoted Greg Barnes to vice president of...

  • MIDWEST

    Heritage Federal Credit Union, Newburgh, Ind., has promoted Mark Hudson to vice president of consumer lending and Tony Freels to assistant vice president of internal audit. CUES, Madison, Wis. has promoted Kristina Mattson to vice president of membership; Teri Schacker to vice president of marketing; Jenny Mueller to Web/e-commerce manager;...

  • EAST

    Chartway Federal Credit Union, Virginia Beach, Va., has promoted Cindy Fulcher to director of office operations. In addition, Chartway FCU has named Sidney J. Baumann, director of member investments and insurance. The Central Credit Union Fund, Auburn, Mass., has named John J. Almeida senior investment representative to credit union brokerage...

Billlionaires Club

11

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