Credit Union Times Magazine June-16, 2004

News

  • ATM Operations: Is Your Credit Union In or Out?

    Amid mergers and consolidations, industry upheavals, technical change, competitive pressures, and compliance deadlines, how does a credit union decide whether to take on the task of in-house ATM operations or to outsource this critical member service function? The question is a complex one, but once we cast aside the jargon...

  • Antellocy's Impact Being Felt at AFTECH; Financial Strides Made, But Challenges Remain on New Business Side

    MALVERN, Pa. - AFTECH President Joe Antellocy isn't one to beat around the bush or dodge questions. He doesn't try to hide the fact that AFTECH's customer relations historically hasn't been the best. "Our focus was always product creation. This was an organization driven by programmers, run by programmers," said...

  • Report Eyes the Good, Bad and the Ugly in Tech Spending, Use

    SCOTTSDALE, Ariz. - Spending on technology at credit unions and banks has been pretty level the past five years, and a key to the organization's success remains in how those dollars are spent and how the results are measured. That's a bottom line from "The Cornerstone Report: Benchmarks and Best...

  • Security Specialist Offers Free Test of Vulnerability Assessment Software

    CHAPIN, S.C. - A team of online banking security specialists has developed a software tool to help credit unions determine if their sites can be comprised by automated hacking scripts and denial-of-service attacks. The CUDefense team is trying to drum up business for its new BankBuster software that it's offering...

  • Harborstone CU Launches Web-Posting for Mortgage Docs

    TACOMA, Wash. - Harborstone Credit Union is now putting its mortgage loan documents on the Web, becoming one of the first credit unions to use the eLynx Web Posting Service (WPS) to electronically deliver and track closing documents. "Formerly, most of our first mortgage loan documents were printed in-house and...

  • Leveraging and Marketing Power of Internet for Auto Loans to Members Key to Growing Auto Loan Portfolio

    WASHINGTON - With an increasing number of credit unions getting involved with indirect lending to boost their auto loan portfolios, CUs are quickly learning to appreciate and leverage the power of the Internet in the auto buying process. A white paper from Callahan & Associates, Using Your Website to Capture...

  • Jack Henry Sees Credit Unions as Major Growth Sector With Symitar Subsidiary as the Backbone

    SAN DIEGO - Jack Henry leaders say they knew they were getting a solid company when they acquired credit union data processor Symitar Systems in 2001, but they didn't know the credit union business would be such a revenue generator. Traditionally a bank processor, Jack Henry has learned just how...

  • Fiserv Cites Early Successes in Company-Wide Tech Blending

    BROOKFIELD, Wis. - Integrating a credit decision engine into CUSA Technologies' core processing system is one of the projects that Fiserv Inc. is citing as an initial accomplishment in a companywide initiative to blend the far-flung enterprise's technological capacities. Fiserv has more than 60 integration projects under way, and says...

  • IT Service Specialist Offers Help in Blocks of Time

    OKLAHOMA CITY, Okla. - An Oklahoma City company that specializes in servicing the IT needs of credit unions is now offering its help in blocks of time. The ProBlox plan from RG2 Solutions (www.RG2solutions.com) allows credit unions to buy blocks of programming and systems integration time in blocks of 25...

  • Dollar Addresses AFTECH Users Conference

    MALVERN, Pa. - Former NCUA Chairman Dennis Dollar spoke at the recent 2004 AFTECH Client Conference in Cancun, Mexico. AFTECH is a Fiserv credit union data processing subsidiary. Dollar talked tough on wide-ranging issues that not only summed up NCUA achievements in recent years, but predicted "interesting times" ahead for...

  • Summit Draws More than 560 to San Diego for 2004 Client Group Conference

    CORVALLIS, Ore. - More than 560 people attended the client group gathering held recently by Summit Information Systems in San Diego. The four-day event featured more than 30 sessions on topics such as member-relationship management strategies to disaster recovery and security, while more than 50 exhibitors and industry experts participated...

  • Empire e-Synergy Can Help it Trim Down

    BINGHAMPTON, N.Y. - Empire Corporate FCU has selected XONITEK Systems Corporation to implement e-Synergy, its lean office solution. Empire will utilize e-Synergy to manage its knowledge base, as well as its documents, projects, and workflow. According to XONITEK, while managing the information flow between employees, customers, and suppliers, e-Synergy adapts...

  • Jack Henry Sets Opening Date for Two New Check-Imaging Centers

    MONETT, Mo. - Jack Henry & Associates Inc. plans to open two new remote item processing centers this year to handle the increased business expected in the wake of Check 21, the company says. An OutLink center in St. Louis will open July 1 and another will open in Philadelphia...

  • DI, Metavante White Paper Shows One CU With Steep Bill Pay Growth

    CALABASAS, Calif. and MILWAUKEE - A Digital Insight and Metavante bill payment white paper found clients who participated in the Digital Insight Growth and Retention Program (GRP) during 2003 saw 66% growth in bill payment over non-participants. The white paper includes profiles of marketing best practices at three top-performing clients,...

  • Corrupt Technician Steals Thousands From ATMs

    SYRACUSE, N.Y. - A maintenance and repair technician with Loomis Fargo and Company has been charged with stealing hundreds of thousands of dollars from ATMs spread across four counties, according to an account in the Oswego Daily News. In a statement filed with one of the criminal complaints, the technician...

  • Special Report: Data Processing & Technology

    Behind the systems and solutions of tech companies is a business model. See how one major player is positioning itself and read about other technology news on pages 21-32.

  • McGourty Moves from Fidelity to OSI

    GLASTONBURY, Conn. - Industry veteran George McGourty is Open Solutions Inc.'s new vice president and national sales manager of OSI's Credit Union Group. McGourty has more than 20 years of financial industry experience, including most recently as senior vice president of credit union business development within the Aurum (Miser system)...

  • Share and Share Alike

    CUNA Mutual Mortgage announces announces a new mortgage servicing group that it says could save credit unions big bucks over time. Page 18.

Letters to the editor

  • CUNA Mutual Adapting to Change

    Most CUNA Mutual employees have been with the company for 10, 20 or even more than 30 years. I on the other hand, have not yet celebrated my fifth year anniversary with the company. As a result, I can tell you first-hand that life on Mineral Point Road is far...

  • Columbia CU Conversion: Death Knell or Siren Call?

    In the June 2, 2004 edition of Credit Union Times in his weekly column, publisher Mike Welch added an extraneous comment to an otherwise coherent message. He said: "As even supposedly impartial bank regulators encourage more credit unions to convert to bank charters, don't expect those (conversion) numbers to go...

  • CUNA Mutual One of Wisconsin's Best Employers

    I am writing in response to recent letters about contract negotiations at CUNA Mutual Group. Since 1935, CUNA Mutual has enjoyed success and has been one of Madison, Wisconsin's best employers. We have provided valuable insurance and financial services products to credit unions and their members and have been important...

  • CUNA Mutual Has Evolved For the Better

    I have read with interest the coverage and commentary regarding the negotiations between CUNA Mutual and the Office and Professional Employees International Union (OPEIU) Local 39. Like many employees at CUNA Mutual, I've spent my entire career here - more than 17 years. I started in an entry level job...

  • Show Bankers' Hypocrisy on Taxation Issue for What It Is

    As a former banker who's now working as marketing vice president at Charter Oak FCU in Groton, Conn. I have to comment on testimony that a Connecticut banker, Mark Macomber, CEO, Litchfield Bancorp, offered before Congress on May 12 on behalf of America's Community Bankers (ACB). I was personally irked...

  • CMG and OPIEU are Both Right and Wrong

    I am a 20-year employee of CUNA Mutual Group and a member of the union. I want to thank Mike Welch for his May 19 column, "When CMG and OPIEU Have a Standoff, CUs Lose." With all of the mud-slinging that is going on between the two sides, it is...

Publisher's Column

  • CU Merger Ends Up In Divorce Before Marriage

    Mergers among credit unions are no big deal. Dozens occur every year. Usually they involve a larger credit union swallowing up a much smaller credit union. Not always. But regardless of size, virtually all credit union mergers in recent memory have gone off without a hitch. Mergers are one reason...

News Briefs

  • Vermont Development CU President Named SBA Advocate of the Year

    BURLINGTON, Vt. - For her efforts in helping small businesses thrive in 11 counties here, Caryl Stewart, president of Vermont Development CU, was named Vermont's 2004 Financial Services Advocate of the Year by the U.S. Small Business Administration. VDCU, a state-chartered, community development credit union, considers small business owners to...

  • New Mexico League to Become `Association'

    ALBUQUERQUE, N.M. - The New Mexico Credit Union League appears ready to drop "league" from its name and become an association. "We're always busy in Santa Fe trying to explain to lawmakers what a League is, what we do and that that we're a trade organization," said Phyllis Crawford, chairman...

  • Popular CU Veteran Bob Greene Passes at Home at 71

    SHELBY, N.C.-Bob Greene, who had worked for CUNA at one time in addition to a number of leagues and credit unions, died of a heart attack last month at his home. Greene, 71, moved around the country during his career working for credit unions, but was born and passed away...

  • Financial Literacy Hearings in Pennsylvania Get Under Way

    LEWISBURG, Pa. - The first set of public hearings for the Improving Financial Literacy Committee of Pennsylvania Governor Edward G. Rendell's Task Force for Working Families met here recently. Among the scheduled speakers were representatives from Service 1st FCU in Danville, Pa. The task force was established by executive order...

  • Wal-Mart Subsidiary Offers Web Site Services To Small Businesses

    BENTONVILLE, Ark. - Credit unions' concerns about Wal-Mart Stores' entry into financial services may grow as a subsidiary of the retail giant goes after the small business owner. Wal-Mart's Sam's Club has announced it will offer Web site development and other Internet services to small businesses. The Web site program's...

  • Bethpage FCU Air Show Huge Success, Gets Widespread Media Attention

    Memorial Day Weekend 2004 at Jones Beach, Long Island, New York, saw crowds of nearly 300,000 enjoying the spectacular two-day Bethpage Federal Credit Union Air Show, with such aerobatic attractions as the U.S. Navy Blue Angels demonstration team, shown here.

Publisher's Notebook

  • Worth Reprinting

    Readers may not all be aware that Credit Union Times now handles more requests for professionally produced reprints of articles first appearing in these pages than all other credit union publications combined. In the past year alone, the number of reprints of individual stories produced has more than doubled. We...

Marketing

  • Pan Am Horizons FCU Brand Awareness A Jingle Away

    MIAMI - Recognizing that speaking the members' language is just one key to building better relationship, Pan Am Horizons Federal Credit Union is letting members know We're Here for You! Designed to increase brand awareness, the bilingual radio advertising campaign focuses on how the credit union makes members' lives better....

  • First Educators Credit Union "Smartens Up" with New Name

    HOUSTON -First Educators Credit Union has made a "smart" move to a new name. Effective July 1 the $260 million credit union will change its name to Smart Financial Credit Union. For First Educators Credit Union, entry in the name change game has been sparked in part by its members....

In Other News

  • SCHOLARSHIPS

    West Community Credit Union, Brentwood, Mo., recently awarded five $1,000 scholarships to local high school seniors. Applicants were evaluated on grade point average and class rank, ACT or SAT college entry exams, curriculum and extracurricular activities, financial need, and personal and school recommendations. This is the ninth year West Community...

Tech Bytes

  • IT Job Offshoring Forces Down Pay for Some Specialties, Security Remains Hot

    NEW CANAAN, Conn. - Credit union managers faced with hiring and keeping qualified IT help may find it easier and less expensive for some positions but harder for the hotter specialties, such as information security and network administration. According to Foote Partners LLC, a research firm which regularly gathers information...

  • Worldwide Interactive Services is SAS 70 Certified for YourMSR.com

    ORLANDO, Fla. - Worldwide Interactive Services Inc., a provider of audio response and wireless and Internet banking under the name YourMSR.com, says it has received SAS 70 certification from the American Institute of Certified Public Accountants. "The SAS 70 process ensures that we are crossing every T and dotting every...

  • COCC Combines CheckClear's Endpoint Exchange Network and NCHA

    AVON, Conn. - In the wake of Check 21, COCC says it has arranged for the Endpoint Exchange Network and the National Clearing House (NCHA) to provide electronic clearing and settlement services through COCC's check-imaging facilities. Under the agreement, COCC's nearly 100 credit union and bank clients will be able...

  • qbt Middleware Deployed in Eglin FCU-Share One Project

    NEW YORK - Eglin Federal Credit Union is now linking its EFT platform to its core processing system using the qbt MultiPoint EFT Processor, the company said. At $850 million in assets, the Fort Walton Beach, Fla., credit union is the largest core processing client of the Memphis-based CUSO, Share...

  • Three CUs Ink Teres Solutions for Indirect Lending Platform

    AUSTIN, Texas - Teres Solutions Inc. says it has signed three new credit union users of its indirect lending software: $325 million Denali Alaskan FCU in Anchorage, $400 million Fort Bliss FCU in El Paso, and $394 million Telhio Credit Union in Columbus, Ohio. The three credit unions are using...

  • EPL Staying on its Open Path

    BIRMINGHAM, Ala. - Credit union data processor EPL used its recent 26th Annual User's Conference to showcase its new open system strategic approach. The new approach is based on its I-Power system that runs on Sun Microsystems hardware and an Oracle database. EPL President and CEO Gregg Hipp, speaking at...

People

  • EAST

    Chartway Federal Credit Union, Virginia Beach, Va., has named Janet Lawson vice president of finance. PSECU, Harrisburg, Pa., has named Christian Devine marketing communications unit manager. Luso American Credit Union, Peabody, Mass., has elected the following officers to its board: Edward Martins, chair/president; Gaspar Simoes, first vice chair/first vice president;...

  • SOUTHWEST

    Fort Bliss Federal Credit Union, El Paso, Texas, has elected the following board directors: Christian Heinemann, Gilbert Tijerina and Dr. Kevin Boberg. U.S. New Mexico Federal Credit Union, Albuquerque, Board Chairman W. Charles Bennet has retired after 17 years of service. The following officers have been elected to the board:...

  • MIDWEST

    Guardian Credit Union, West Allis, Wis., has named Bruce Walker assistant vice president of lending, and Kevin Correa human resource manager.

  • SOUTH

    Jackson VA Federal Credit Union, Miss., has appointed Stephen E. Pollman, Jr. president/CEO. In addition the credit union has promoted Donna Albright to vice president of operations and Tracey Hitt to member services director. Barksdale Federal Credit Union, Bossier City, La., has promoted Laura Johnson to Leesville Center manager. Local...

  • WEST

    Redwood Credit Union, Santa Rosa, Calif., has elected the following officers to its board: Robert Wieck chair; Dave Imoto vice-chair; Kathleen Sowers secretary; and Rod Dole treasurer. In addition, June Steeves-Funk and Robert Steele have been elected board directors. RCU has also elected Steve Sharpe supervisory committee chair and James...

Pictorial

  • Johnson Gets Quite a Turn Out for Capitol Hill Reception

    WASHINGTON-A throng of congressional and credit union dignitaries turned out for NCUA Chairman JoAnn Johnson's inaugural reception on Capitol Hill June 3. The reception in the Lyndon B. Johnson Room on the Senate side of the Capitol was hosted by the entire Iowa congressional delegation. Congressmen Tom Latham (R-Iowa), Steve...

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