Credit Union Times Magazine July-28, 2004

In Other News

  • DONATIONS

    Travis Credit Union, Vacaville, Calif., has donated much needed furniture to the Antioch/Brentwood School system. Schools in Antioch/Brentwood received four steel case desks with returns and overhead shelves, six printer stands, two solid wood tables, two bookcases and 30 file cabinets. The furniture will be used in the administration offices...

  • AWARDS

    Fort Bliss Federal Credit Union, El Paso, Texas, has named Alexander Galaviz the 2004 Leo Ziegler Employee of the Year. Galaviz is part of the information systems department and manages the credit union's employee helpdesk and was selected for his great positive attitude. The Employee of the Year Award is...

News

  • Bank Attacks `Like Bad Weeds'; Continue Sprouting State-by-State

    LYNCHBURG, Va. - Those bank attacks - from Minnesota to Utah to here in Virginia - continue to pop up on Web sites, in letters to editors, in financial magazines and on op-ed pages across the land, "like so many bad weeds" as one CU executive put it. The moves...

  • CDFI Industry Outperforms Banking Industry, Study Claims

    PHILADELPHIA - Community development financial institutions, including community development financial institutions, saw asset growth of almost double that of commercial banks between 2000 and 2002, according to a study by the CDFI Data Project. The Data Project is an effort of CDFI supporters, supported by Foundation grants, including the National...

  • Chicago Fed Says No to CU Council, But it Appreciates CU `Views'

    CHICAGO - The Federal Reserve Bank of Chicago has apparently joined other regional Fed banks in turning thumbs down on creating a separate credit union council to advise bank leadership on policy, structure and financial issues. But Michael Moskow, the Chicago Fed president, did say through a spokesman that the...

  • California CUs Offer Members Help During State's Budget Stalemate

    SACRAMENTO, Calif. - Credit unions in California are again this year offering beleaguered state employees some financial relief as lawmakers remain locked in a budget stalemate. At press time, there were signs that some progress was being made on resolving the few remaining issues over the $103 billion budget. Only...

  • Municipal CU's William Porter to Receive Pete Crear Lifetime Achievement Award

    NEW YORK - Municipal CU President/CEO William Porter will receive the Pete Crear Lifetime Achievement Award from the African-American Credit Union Coalition on Aug. 13 during the group's annual meeting in Atlanta. Porter has led MCU since 1981, helping propel it to a $1.2 billion institution. Over the years, Porter...

  • Columbia Will Hold Annual Meeting In September

    VANCOUVER, Wash. - The $619 million Columbia Community Credit Union which was the subject of an extraordinary fight over a charter conversion earlier this year, will hold its annual meeting on September 15 at a local area high school, the credit union has announced. The credit union nominating committee has...

  • Colorado CU Offers 5.28% on Jumbo CD as `Mile High Rate'

    BOULDER, Colo. - U of C Federal Credit Union has begun offering a "mile high rate" of 5.280% on its 60 month jumbo certificates of deposit, making it the highest in Colorado and "a very attractive rate nationwide," according to Bankrate Inc., the North Palm Beach, Fla. rating firm. U...

  • New HUD Rule Makes Lenders Responsible for Appraisals

    WASHINGTON - In a move designed to curb predatory lending and increase accountability in its mortgage insurance programs, the U.S. Department of Housing and Urban Development (HUD) passed a final rule July 20 that makes lenders accountable for appraisals on mortgages insured by the Federal Housing Administration (FHA). The rule...

  • Ent Federal Credit Union Latest to Offer SBA 7(a) Loans

    COLORADO SPRINGS, Colo. - Ent Federal Credit Union joins the growing number of credit unions that have received a U.S. Small Business Administration license to offer 7(a) loans. SBA's 7(a) loans carry a maximum amount of $2 million and loans of $150,000 or less carry a maximum guarantee of 85%....

  • Bank Mergers Spawn Trust Services Mismanagement, Poor Service, Lawsuits, WSJ Reports

    NEW YORK - Credit unions considering or currently offering trust services may have an edge thanks to the number of lawsuits that have sprang up accusing trustees of mismanagement and poor service mainly as a result of bank mergers. The Wall Street Journal recently reported that "amid financial-industry consolidation, many...

  • House Passes Bill Requiring Companies to Report Top Executives' Employee Stock Options

    WASHINGTON - A bill that would require publicly-traded companies including banks to report employee stock options granted to chief executives and their next four highest paid officers was passed by the House of Representatives on July 20. The House approved the bill 312 to 111. H.R. 3574, the Stock Option...

  • Summary of HUD's Proposed Housing Rule

    HUD's proposed rule includes three housing goals: (1) Low and Moderate Income Goal (families with incomes less than or equal to the area median income); (2) Underserved Areas Goal (families living in low income and high minority census tracts); and (3) Special Affordable Housing Goal (very low income families and...

  • NCUA Wants Members to be Given Concise Disclosures on Why Their CU Wants to Convert to a Bank

    ALEXANDRIA, Va.-Proposed regulations regarding mutual charter and private insurance conversions were the highlight of the NCUA Board's July meeting. While the issue of credit unions converting to mutual thrift institutions has been a hot one among credit unions, the proposed disclosures NCUA may impose have reached beyond the borders of...

  • NACUSO Presses on with CUSO Inclusion in SEC Broker/Dealer Exemptions Three Years After Incidental Powers Revisions

    NEWPORT BEACH, Calif. - As the industry waits for final SEC rules on broker/dealer exemptions to credit unions, NACUSO continues to make its case for the inclusion of CUSOs in the regulator's language. Many of NACUSO's members have expressed an interest in continuing to enable CUSOs to enter into networking...

  • New Wisconsin CU League Government Affairs Director Wants to Leverage Numbers to Grow Fundraising Base, Influence

    MADISON, Wis. - As a former contract lobbyist with the Madison office of lobbying firm Broydrick and Associates, Tom Liebe is well aware of what it takes to influence legislative decisions. Now he's going to have the opportunity to apply those skills and others to affect credit union-friendly regulatory and...

  • Wings Financial Federal Credit Union Makes Use of TIP Charter through New Alliance with AirTran Airways

    APPLE VALLEY, Minn. and ORLANDO, Fla. - Nearly five months after its debut, Wings Financial Federal Credit Union has secured a partnership with AirTran Airways to offer the airline's more than 5,800 employees access to financial products and services. In March, $1.5 billion NWA Federal Credit Union launched Wings Financial...

  • Trades, GSEs Concur HUD Affordable Housing Proposal, in Current Form, Not Conducive to Meeting Goals

    WASHINGTON - While concurring with the U.S. Department of Housing and Urban Development's (HUD) objective to increase home ownership among low-income families and minorities, CUNA and NAFCU, as well as the housing Government-Sponsored Enterprises Fannie Mae and Freddie Mac have each sent the agency their comment letters on HUD's proposed...

  • Sunmark FCU's Portable Mortgage Lets Homeowners Take Their Mortgage With Them When They Trade Up

    SCHENECTADY, N.Y. - In a unique twist on the traditional 30-year mortgage, Sunmark FCU has introduced portable mortgages that give members the option of carrying their current mortgage to their next home and potentially saves them money. Sunmark says the product, which has been popular in Canada for many years,...

  • Matricula Fight May Be Back On; ID Supporters To Try To Stifle Measure

    WASHINGTON - Credit union lobbyists were surprised July 15 when an unexpected amendment to an appropriations bill threatened to derail an important element of credit unions' outreach to Hispanic communities that they had thought secure. At risk is credit unions' ability to accept the so-called matricula consulars. The matricula consular...

  • Kansas CUs Come Through for State Treasurer on Literacy

    TOPEKA, Kan. - With support from the Kansas Credit Union Association, State Treasurer Lynn Jenkins is fulfilling a long-standing personal goal next month of energizing the financial community into improving financial literacy among Kansas youth. "You know I shouted from the mountaintops for financial institutions to help me out and...

  • Even as Record Consolidation Continues, Answers for Slowed Membership Trend Hard to Come by, Solutions Easier to Pinpoint

    MADISON, Wis. - May 2004 might go down in history as the most active month ever for credit union consolidation. According to CUNA's Monthly Credit Union Estimates, May saw the loss of 135 credit unions - the highest month-only decline ever. This decrease brought the total credit union count down...

  • Ent FCU Introduces InterestFirstT Mortgages

    COLORADO SPRINGS, Colo. - Faced with rising mortgage interest rates and an appreciating home market, Ent FCU has introduced two 30-year fixed-rate Fannie Mae InterestFirstT mortgage programs that allow members to make interest-only payments for the first years of their fixed-rate mortgage, consequently freeing up cash for other uses. The...

  • Credit Union Community Presents United Front to Congress at CURIA Hearing

    WASHINGTON-The entire credit union community, from trades to regulators, showed unanimous support for the provisions contained in the Credit Union Regulatory Improvements Act (H.R. 3579) before the House Financial Institutions and Consumer Credit Subcommittee. In testimony before the subcommittee last week, NCUA Chairman JoAnn Johnson expressed strong support for all...

  • Farmers In Missouri File To Charter CU; New CU Would Start With Statewide FOM

    JEFFERSON CITY, Mo. - The Missouri Farmers Union has filed with the state to charter a credit union "to offer an alternative to conventional or consolidated banking systems," the group said. The Missouri Farmers Credit Union will help alleviate lending barriers to young, new or entrepreneurial farmers who are being...

  • Fed Withdraws Proposed CRA Amendments That Would Have Eased Reporting

    WASHINGTON-The Federal Reserve Board on July 16 withdrew its proposed amendments easing Community Reinvestment Act reporting regulations. Bankers offered strong support to the proposal, which would have raised the threshold to fall under the small bank examination from $250 million to $500 million and lower a bank's CRA rating if...

  • Federally-Insured, State-Chartered CUs Must Adhere to NCUA MBL Reg or One State Reg Approved by NCUA

    ALEXANDRIA, Va. - NCUA recently clarified that federally insured state-chartered credit unions (FISCUs) may only engage in business lending under the terms of NCUA's MBL regulation or a state member business lending regulation approved by the NCUA Board. In a July 2 opinion letter to John P. Smith, director of...

  • Massachusetts Lawmakers Override Gov's Veto of Insurance-Related Directors Bill

    BOSTON - The Massachusetts House of Representatives and Senate voted unanimously to override Gov. Mitt Romney's veto of a bill - Senate 13 - that allows directors serving on a credit union board who are denied group health insurance coverage by their insurance carrier, to obtain the benefits in a...

  • RBC Mortgage Makes Prime Alliance Available to CUs Nationwide

    ROSEVILLE, Calif. - RBC Mortgage - Credit Union Division has activated its Prime Alliance Internet Origination site, making it available to credit unions throughout the U.S. to help them increase mortgage lending to members. RBC Mortgage - Credit Union Division has been offering mortgage services to credit unions since 1986,...

  • CFA Says Survey Results Show Lack of Knowledge About ARMs Risk

    WASHINGTON - The Consumer Federation of America will release at a press conference on July 26 the results of a new consumer survey on attitudes towards and understanding of the mortgage market. New information on the differences between low-income and minority Americans and others will also be available. According to...

  • St. Mary's Bank President Recognized in Congressional Record for Community Work

    MANCHESTER, N.H. - At the April 28th meeting of the House of Representatives, Congressman Jeb Bradley (R-N.H.) read a statement for inclusion in the Congressional Record recognizing St. Mary's Bank President Ron Rioux for his work in helping low-income families in the state achieve the goal of homeownership. Rioux, chairman...

  • Wasuau Benefits Unveils HDH Plan

    WAUSAU, Wis. - Wausau Benefits, a member of the Fiserv Health Group, has launched a high deductible health plan product offering for self-funded employers. The HDH plan has a deductible of at least $1,000 for single coverage and at least $2,000 for family coverage and is a required component for...

  • `Support the Troops' Proves Hit at Nebraska Credit Union

    KEARNEY, Neb. - Describing the sales as "phenomenal," Kearney Federal Credit Union has sold - in little more than a month - nearly 1,200 yellow ribbon car magnets containing the logo, "Support the Troops." "We've had to reorder couple of times now and it's unreal the demand we've received with...

  • CUES CEO Institute Prompts Promotion

    MADISON, Wis.-According to a recent survey, attending the CUES CEO Institute has resulted in career promotions for some 35% of graduates. The three-tiered leadership development program is held at several schools including The Steinberg Conference Center at The Wharton School, University of Pennsylvania, Philadelphia; Johnson Graduate School of Management, Cornell...

  • Community Development CU Appears in USA Today Article as Part of Savings Program

    CLEVELAND, Ohio - The July 13 issue of USA Today featured the activity of the privately insured Faith Community United Credit Union as a supporter of the Consumer Federation of America's Cleveland Saves campaign. The credit union is a community development credit union and a leader in the National Federation...

  • Mid-Atlantic Corporate FCU Tees Off for CU Foundations

    MIDDLETOWN, Pa. - Mid-Atlantic Corporate Federal Credit Union has raised over $6,000 for the Pennsylvania Credit Union Foundation and the National Credit Union Foundation during its 10th Annual Charity Golf Tournament at the Hershey Golf Club in Hershey, Pa. Over 100 golfers participated in this year's event. The donated funds...

  • Cosby Cracks Up NAFCU

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  • American Airlines FCU, Enterprise Car Sales Partner on Used Vehicle Program

    FORT WORTH, Texas - Members of American Airlines FCU who finance their vehicle through the credit union can take advantage of a newly created car sales program created for the credit union as a result of its partnership with Enterprise Car Sales, a division of Enterprise Rent-A-Car, located in St....

  • CURIA Update: Sanders is Lone Independent, but Not Alone in his Support for CURIA

    WASHINGTON - Vermont Congressman Bernie Sanders, the House of Representatives' only Independent, recently became the 62nd member of Congress to back the Credit Union Regulatory Improvements Act (H.R. 3579). Sanders also recently spoke out in favor of the credit union tax exemption in a statement he had inserted into the...

  • Clarke American Uses Nostalgic Care Bears for New Check Design

    SAN ANTONIO, Texas - Since 1981 when they were first introduced, the Care Bear characters have appealed to children and children-at-heart for their charm and ability to teach the lessons of caring and sharing. Now Clarke American has put the popular Care Bear characters on their new check designs and...

  • Two Vermont CU Employees Admit to Stealing Funds

    BARRE, Vt. -Two employees of United Community CU may be charged with felony embezzlement for taking $26,000 in CU funds over the last three years. Arraignment is scheduled for September. While acting independently, the women-one a member services representative, the other, head teller-admitted to talking about how to steal money....

  • Mutual Savings CU CEO Makes "40 Under 40" Cut

    BIRMINGHAM, Ala. - Mutual Savings Credit Union President/CEO and Alabama Credit Union League Board Chairman Dale Dalbey has been named one of Birmingham's "Top 40 Under 40" by the Birmingham Business Journal. This annual ranking honors local individuals who are making a difference in the community. "Aside from being extremely...

  • CUNA Publishes Member Business Services Guide

    MADISON, Wis. - Credit unions considering the addition of member business services to their portfolio have a new resource from CUNA. CUNA's new Credit Union Member Business Services Guide examines a number of different business services issues, including: member business checking accounts, commercial loans, SBA loans, lending considerations, loan participations,...

  • Washington DFI's Predatory Lending Campaign Generates Public Interest

    OLYMPIA, Wash. - A summer campaign launched by the Washington State Department of Financial Institutions to raise consumer awareness of predatory lending by releasing television, radio and print public service announcements, apparently is doing what it set out to do. Since the start of the campaign, DFI has received an...

  • Denali Alaskan FCU New Matching Program Raises Funds for CMN

    ANCHORAGE, Alaska - Denali Alaskan Federal Credit Union has donated some $6,000 to the Children's Miracle Network. Children's Miracle Network helps Alaska Children's Hospital offer critical health services to children from all over the state. The majority of the funds were raised through "Twice the Help," a matching program Denali...

  • BMI FCU, Worthington Industries Inc. FCU to Merge

    COLUMBUS, Ohio - BMI Federal Credit Union and Worthington Industries Inc. Federal Credit Union have recently agreed to merge. Under the agreement effective October 1 Worthington Industries Inc. FCU's $11 million in assets and 3,500 members will be part of BMI FCU. BMI FCU currently has $210 million in assets...

  • City of Salem Employees FCU Unites with Freedom First

    SALEM, Va. - The $6 million City of Salem Employees Federal Credit Union has merged into the $129 million Freedom First Federal Credit Union. As part of the merger agreement City of Salem Employees FCU members will now have access to nine area branches, online services and over 10,000 surcharge-free...

  • VolCorp is Latest Corporate to Join CU Business Group

    NASHVILLE - Another corporate credit union has joined the ownership ranks of CU Business Group, LLC. This time it's VolCorp. VolCorp joins Mid-States, FirstCorp, Northwest Corporate, First Carolina and Empire Corporate as owners in CU Business Group, LLC, a CUSO originally formed by Northwest Corporate to provide credit unions with...

  • CEFCU Offering USDA Rural Housing Guarantee Home Loans

    PEORIA, Ill. - CEFCU has begun offering the USDA Rural Housing Guarantee Home Loan financing option, a loan program for home buyers that features loan amounts up to 100% of the appraised value of the home and can include all closing costs. The USDA Rural Housing Guarantee Home Loan program...

  • Williams Appointed President/CEO of METRO Credit Union

    WARREN, Mich. - Deidra Williams, EVP and Chief Operations Officer of the $184 million METRO CU since 1996, has been named the CU's new president/CEO. She succeeds Kevin O'Connor who held the position through May 2004. Prior to working at METRO CU, Williams worked as an auditor with Cindrich, Mahalak,...

  • Palm Beach CU Chapter Hosts First Annual GAC Picnic

    WEST PALM BEACH, Fla. - Credit unions in the Palm Beach Chapter of the Florida Credit Union League recently teamed up to host a Governmental Affairs Committee picnic for members. Over 325 consumers attended the event to learn more about local and state candidates up for election and their stand...

  • St. Mary's CU Branches Out

    MARLBOROUGH, Mass. - For the first time in 91 years, St. Mary's Credit Union is branching out of Marlborough. The $441 million credit union has recently purchased a 3,600 square-foot building in Northborough. The facility will be renovated as a full service branch featuring six teller stations and two drive-up...

  • State National Companies, Western Reliance Team Up

    FORT WORTH, Texas - Insurance solutions provider State National Companies and Western Reliance Corporation, a leading west coast insurance agency and loan tracking specialist, have joined forces. The move, designed to capitalize on each other's strengths, will provide Portland, Oregon-based Western Reliance clients with State National's force-placed insurance services including...

News Briefs

  • Tinker FCU Card Portfolio Leaps $3 Million in Eight Weeks

    OKLAHOMA CITY - The $1.3 billion Tinker Federal Credit Union saw its card portfolio increase in value by $3 million after the credit union employed a mixture of credit line increases, new account acquisitions, pre-approved upgrades and balance transfers, the credit union said. This spring, the credit union mailed more...

  • House Lawmakers Approve $60 Million for CDFI

    WASHINGTON - The House VA-HUD Appropriations Subcommittee has appropriated $60.4 million for the U.S. Treasury Department's CDFI Fund in fiscal year 2005, this is equal to the FY 2004 appropriation and $12 million above the Bush Administration's request of $48.4 million. It is also a very pleasant surprise for CDFI...

  • Duffy Leaving Keefe, Bruyette & Woods

    NEW YORK - Peter Duffy, a senior vice president with Keefe, Bruyette and Woods is leaving the firm headquartered in New York City. Duffy declined to name the new company because some of the details had yet been finalized but said he expected there would be a formal announcement in...

  • Newport News Shipbuilding Employees' CU Adds Two Distressed Communities to FOM

    NEWPORT NEWS, Va. - Newport News Shipbuilding Employees' CU received approval from the State Corporation Commission, Bureau of Financial Institutions to expand its field-of-membership to include two areas considered to be "distressed communities." This makes Newport News Shipbuilding the first credit union to add an underserved community under the state's...

  • Senators to FDIC: Stop Letting Payday Lenders Rent Bank Charters

    WASHINGTON - The Consumer Federation of America applauded Sen. Charles Schumer (D-N.Y.) for urging Federal Deposit Insurance Corp. Chairman Donald Powell to "end the misuse of federally insured state banks to help payday lenders evade state usury and small loan laws." In a prepared statement, CFA Director of Consumer Protection...

  • 26 Navy FCU Branches Nominated for Best Navy CU of the Year

    VIENNA, Va. - A record-breaking 26 Navy Federal Credit Union on-base branches have been nominated for the "Best Navy Credit Union of the Year" award. Annually, the Office of the Assistant Secretary of the Navy recognizes the on-base financial institution-credit union and bank-that provided exceptional service to military and civilian...

  • CUNA to Update CUs on HSAs

    WASHINGTON - With talk of Health Savings Accounts on the rise, CUNA will host an audio-conference on HSAs on August 10 from 2:00 -3:30 p.m. EST. Approved as part of the Medicare Prescription Drug, Improvement and Modernization Act of 2003, HSAs are designed to help individuals save for medical and...

  • Isner, EVP/COO of Arizona CU League, Dies

    PHOENIX, Ariz. - Gary Isner, executive vice president and chief operating officer of the Arizona Credit Union League died July 15 after a six month battle with cancer. He was 60 years old. Isner was with the ACUL for 19 years, beginning in May 1985 as vice president. He was...

Marketing

  • Arizona CU League, LEMMON-AID Marketing Win Pro & Blockbuster Award

    TEMPE, Ariz. -The American Association of Credit Union Leagues has presented the Arizona Credit Union League and LEMMON-AID Marketing Services a Pro & Blockbuster Award during the PR/Communications/GAPS Conference. The award honors excellence in public relations, marketing and advertising efforts, based on creativity and informational/educational value. The Arizona Credit Union...

  • Energy First CU Cleaning Up Environment-One Highway at a Time

    MONTEREY PARK, Calif. - Energy First Credit Union, in keeping with its "green" awareness philosophy, has recently adopted a two-mile stretch of the Long Beach (710) Freeway. This marks the second highway adopted by Energy First CU - in March the $399 million credit union adopted a two mile stretch...

  • SECU Mascot Welcomes State Legislators

    RALEIGH, N.C. - Who says youth club mascots are just for kids? State Employees' Credit Union is using its kids club mascot FAT CAT to not only have fun but help build relationships and brand awareness across the state. Recently SECU's FAT CAT mascot along with representatives from SECU's education...

  • DFCU Financial Promotes Green Education

    DEARBORN, Mich. - For DFCU Financial, educating youth takes many forms-including a green thumb. The $1.6 billion credit union has sponsored a hands-on science education program called TreeKeepers Kids organized by the non-profit organization The Greening of Detroit. The TreeKeepers Kids Program is an integrated, hands-on environmental education program that...

  • Santa Clara County FCU Makes Summer Fun for Young Members

    San Jose, Calif. - Santa Clara County Federal Credit Union kicked off the summer by hosting its Looney Tunes summer party for its LOONEY TUNES savings club members. To make the event a memorable one for kids the third annual Looney Tunes Summer party featured a who's who of cartoon...

  • Marketing a Dream Come True for North Island CU's Geri Dillingham

    CHULA VISTA, Calif. - While her start in credit unions may have been a fluke, North Island CU Executive Vice President of member relations Planning Geri Dillingham has always been drawn to marketing. "I took a marketing class my senior year of college and enjoyed the creativity and strategy of...

Tech Bytes

  • OSI Launches Version 3.9 of Core Platform

    GLASTONBURY, Conn. - Open Solutions Inc. has released Version 3.9 of its core platform - The Complete Credit Union Solution and The Complete Banking Solution. Improved risk controls, application integration and access to relationship data are among the highlights of the fast-growing core processor's flagship platform, the company says. "Financial...

  • Corillian Launches Solution Aimed at Preempting Attacks

    PORTLAND, Ore. - Corillian Corp. has put together a new anti-phishing solution it says features Web log analysis and methodology that can help proactively take on the problem of fraudsters sending e-mails to unsuspecting consumers who then go to phony Web sites and reveal personal information. The Corillian Fraud Detection...

  • EDS Focusing on the Big Boys

    PLANO, Texas - EDS is doing what it said it would do after selling off its community bank and credit union data processing businesses - it's focusing on large clients. EDS, which has been beaten up in recent years with weak earnings, mild stock scandals, and massive layoffs, recently announced...

  • Fiserv Imagesoft Releases Upgraded Anti-Fraud, Imaging Platform

    LAKE MARY, Fla. - Fiserv Imagesoft has released a new version of its Guardian Series software suite that it says will better able financial institutions to guard against fraud and meet the technology demands of Check 21. Guardian Series version 8.3 is browser-based and includes enhancements that allow credit unions...

  • Scheurman to Lead Corporate Item Processing CUSOs

    PORTLAND, Ore. - Mike Scheuerman has been named president of two corporate-owned CUSOs that could potentially play a key role in the creation of a national image exchange network. Scheuerman will lead Credit Union National Item Capture and CU eArchive Solutions, two CUSOs owned jointly by FirstCorp and Northwest Corporate....

  • Baxter CU to Deploy Image Processing, Check-Truncation Platform

    CLEARWATER, Fla. - Baxter Credit Union will deploy a back-office image processing and check truncation platform from TWS Systems that will help the $880 million Illinois CU prepare for Check 21, the company said. The credit union plans to fully implement IMAGECENTER before the Oct. 28 official enactment of the...

Opinions

  • Technology Outsourcing: We Have Met the Enemy, and He Is Us

    Outsourcing technology is common, either because a credit union does not have the internal resources to develop and implement a technology or because outsourcing promises cost savings. For every outsourcing project that ends successfully, there is at least one more that ends in disappointment - through cost savings not realized,...

Opinion

  • How Credit Unions Can Create a Successful Document Management Strategy

    Given the option, most credit union CEOs would elect to eliminate paper from their day-to-day operations. Many of the benefits of a seamlessly integrated paperless environment are readily apparent. However, beyond the elimination of paper, the full benefits of a successful document management solution have not been well understood by...

  • Credit Unions and "A Sense of Community"

    Marshall McLuhan, the world-renowned communications icon first coined the terms "global village" and "the medium is the message." Today the business of credit unions is the constant invention of new membership villages - community charters, global outreach, new messages, new mediums, and growing confrontations with old financial village merchants (banks)....

Publisher's Column

  • NAFCU Returns From North of the Border a Winner

    Every summer about this time, a large part of the credit union world focuses in on the Annual Conference and Exhibition of NAFCU. And for good reason; it attracts a lot of credit union movers and shakers under one roof. And a lot important to credit unions happens there. This...

Quotes Worth Quoting

  • Quotes Worth Quoting

    "Some of our members have told me that they feel we've thrown in the towel but that's not the case," - Bob Dorsa, NACUSO president on the Association's more than two-year effort to include CUSOs in an SEC proposal that recently extended broker/dealer exemptions to credit unions. "Our idea was...

People

  • MIDWEST

    Three Rivers Federal Credit Union, Fort Wayne, Ind., has appointed Jeff Meyer President/CEO. Meyer replaces James G. Mills, who has retired after serving in the President/CEO position since 1985. K.C. Police Credit Union, Kansas City, Missouri, has appointed Douglas L. DeGroot vice president/chief operating officer. Wisconsin Credit Union League, Pewaukee,...

  • IN MEMORIAM

    CME Federal Credit Union, Columbus, Ohio, former board director Carl Spaeth has died at the age of 78. During his 32-year tenure on the board, Spaeth served in a variety of leadership roles including five terms as board chairman. Spaeth retired from the Columbus Division of Fire after 33 years...

  • WEST

    Ventura County Credit Union, Calif., has named Peggy Pollard vice president of lending services. Fiscal Credit Union, Glendale, Calif., has named Don Turner vice president of lending; Tracey Marchand assistant vice president, sales and service; Avo Mkhitaryan lending manager; and Lisa Harmon-Collins assistant vice president, support services and compliance.

  • SOUTH

    Memphis Area Teachers' Credit Union, Tenn., has named Deborah Hughes member connect director. Spartanburg Regional Federal Credit Union, S.C., has named Omero DeLorenzo chief operating officer. Vystar Credit Union, Jacksonville, Fla., has named John Turpish executive vice president/ chief financial officer.

  • SOUTHWEST

    University Federal Credit Union, Austin, Texas, has named Michael Guthrie UFCU Financial Services associate register representative; Tom Cartwright senior manager of insurance services and Laurie Roberts real estate manager. Security Service Federal Credit Union, San Antonio, has promoted Donna Anderson to member contact center manager.

  • VENDORS

    CENTRIX Financial, LLC, a financial management and services firm, has appointed H. Dane Hooks executive vice president of financial operations. DealerTrack, Inc., a technology services company, has named Bryan Lewis vice president, national sales. United Guaranty, a mortgage guaranty insurance provider, has named Cindy Kirkley vice president and group executive...

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