Credit Union Times Magazine March-24, 2004

In Other News

  • AWARDS

    Central Florida Educators' Federal Credit Union, Orlando, has recognized the following outstanding employees: Fran Perez, Manager of the Year; Nan Fogle, Employee of the Year; Mary Hensel, Employee of the Month; and Linh Dang Distinguished Manager of the Fourth Quarter. Award recipients were selected based on performance, teamwork and service...

  • BRANCHING OUT

    Mid-Atlantic Federal Credit Union, Gaithersburg, Md., has broken ground on a new headquarters building in Germantown, Maryland. The new facility is scheduled to be completed and open for business in Fall of 2004. Jennie Lazerov, Field Representative for U.S. Senator Paul Sarbanes and Candace Curie, President of the Gaithersburg-Germantown Chamber...

  • DONATIONS

    ESL Federal Credit Union, Rochester, N.Y., has helped raise $196,806.24 to benefit local charities here through the ESL Animal Scramble Auction. ESL Animal Scramble involved corporate sponsorships of 130 life-sized, fiberglass animals painted by local artists. The full purchase price of each animal was donated to charity. Fifty percent of...

  • A Tighter Screen; Low Income Tax Payers Face Checks On Way to EITC This Year

    WASHINGTON - As the deadline to file Federal tax returns draws steadily closer, 25,000 low-income Americans who apply for the Earned Income Tax Credit will face additional checks of their data and returns before they receive their credit. The Internal Revenue Service estimated that 21 million taxpayers claimed the EITC...

  • Another Credit Union Opts For ATM Emergency Alert; Muggings at ATM Lead To Change

    ECORSE, Mich. - Another credit union has taken the step of installing technology at one of its ATMs that will enable cardholders to call for help via the 911 network, furthering the debate over whether ATM deployers should seek to assist machine users who might be in trouble. Michael Chmiel,...

  • American Airlines Card Program Likely To Be Very Innovative; Program May Include Approach To Rewards

    DALLAS - When the almost $4 billion American Airlines Federal Credit Union finally starts a credit card program, it might do so using some of the most cutting edge and innovative card reward programs in the industry. Certegy, the credit card processing firm for many credit unions headquartered in Alpharetta,...

  • Adjournment the Only Action Agenda Item at NCUA March Board Meeting

    ALEXANDRIA, Va. - Though the NCUA Board took no action other than adjourning at its March meeting, the board members did receive public briefings on critical provisions in the Fair and Accurate Credit Transactions Act, which all financial services regulators will be addressing shortly. NCUA Staff Attorney Chrisanthy Loizos gave...

  • Columbia Fight Over Looming Board Vote Just Gets Uglier; CU Calls the Cops, Members Go Back to Court

    VANCOUVER, Wash. - The dispute between the board of the $619 million Columbia Credit Union and some of its members got steadily uglier last week as the credit union tried to have some members arrested and the members went back to court to try to get five board members thrown...

  • Columbia Chapter Meeting Rapt for Conversion Discussion

    PORTLAND, Ore. - About 65 credit union executives listened closely on March 10 to a discussion of the issues involved in the credit union-to-bank conversion phenomenon at a meeting of the Columbia chapter of the Oregon Credit Union Association. Tony Ward-Smith, a noted credit union consultant, spoke about his experience...

  • CFA Director Speaks Out Against OCC's Attempt to Preempt State Consumer Regulation of Banks; Calls OCC a "Runaway Agency"

    WASHINGTON - Allen Fishbein, director of Housing and Credit Policy for the Consumer Federation of America has added his name to the growing list of opponents including members of Congress, State Attorneys General, state bank supervisors and state regulators, who have criticized the Office of the Comptroller of the Currency...

  • Addison Avenue FCU Merges Investment Centers, Branch Operations Under One Roof

    ROCKLIN, Calif. - Addison Avenue Federal Credit Union has combined its nationwide branch operations and investment access centers under one roof in an effort to simplify member interaction and streamline management levels. The $1.7 billion credit union, through its investment subsidiary Addison Avenue Financial Partners (AAFP), offers its 124,000 members...

  • WOCCU, Texas, California Leagues Help Mexico's Largest CU Technologically Connect its Branches

    MADISON, Wis. - Mexico's largest credit union is one step closer to a computer system that will connect its 326 branches. Through the World Council of Credit Unions' People to People Partnership, Mexico's Caja Popular Mexicana (CPM) discussions are underway to implement a new computer system that will centralize the...

  • Treasury Aide Lauds Arizona Literacy Effort

    PHOENIX, Ariz. - Arizona credit unions are on the right track in pitching financial literacy programs to adults instead of focusing solely on students, according to a top U.S. Treasury aide. Speaking here to CU executives involved in financial education, Daniel Iannicola, U.S. Treasury Deputy Assistant Secretary overseeing the department's...

  • Abernathy Sticking with PCA Reform, Credit Union Tax Status

    WASHINGTON-In a meeting with Treasury Assistant Secretary for Financial Institutions Wayne Abernathy, CUNA thanked him for his "steadfast" support of credit unions' tax exemption and his commitment to reforming Prompt Corrective Action for credit unions. Though CUNA Associate General Counsel Mary Dunn said she could not share further the details...

  • Navy Federal Reissues Plastic in BJ's Card Compromise

    MERRIFIELD, Va. - The $20 billion Navy Federal Credit Union has reissued plastic credit and debit cards to 40,000 of its cardholders who had their account numbers compromised by a security breach at a BJ's Wholesale Club, a major U.S. so-called big box retailer. Loren Moeller, spokeswoman for the credit...

  • WSJ Acknowledges Banker-CU Battle

    WASHINGTON - Even a large, mainstream publication like The Wall Street Journal has taken notice of the inflamed, yet age-old, banker versus credit union battle over taxation. WSJ ran a story from Dow Jones Newswires on the recent remarks bandied about by top credit union and banking officials. The article...

  • Nothing Illegal Here

    Vancouver, Wash. police cruisers were called to the branches of Columbia CU by the credit union's board to stop members who support a pending recall board election from campaigning for the vote. The police refused to arrest anyone after determining none of the members had broken any law. See stories...

  • Ensweiler Lashes Out at Bank Attacks in Banker Letter to the Editor

    WASHINGTON-Bankers' "latest round of whining and belligerency" demonstrates their misunderstanding - or outright distortion - or the facts about credit unions, CUNA Chairman Dick Ensweiler wrote in a March 12 Letter to the Editor appearing in the American Banker. "The banks repeatedly and loudly carp that credit union competition is...

  • CUNA Mutual SVP Discusses Key Issues with Top White House, Treasury Officials

    WASHINGTON - In recent meetings with top White House and Treasury officials, CUNA Mutual Senior Vice President for Corporate and Legislative Affairs Larry Blanchard thanked them again for sticking to their guns regarding credit unions' tax-exempt status. Blanchard, along with the American Insurance Association, met with Presidential Advisor Karl Rove,...

  • CUNA, FDIC Chairman Exchange Public Words on CU Tax Exemption

    WASHINGTON-CUNA President and CEO Dan Mica has publicly pummeled Federal Deposit Insurance Corporation Chairman Don Powell for stating on more than one occasion that credit unions should be taxed. "There he goes again - Mr. Powell continues to be out of step with the Bush Administration, and out of line...

  • CUNA, SBA Focus Group Hash out Ways to Ease Credit Union Access

    WASHINGTON - CUNA recently hosted a focus group at the suggestion of the Small Business Administration to uncover ways to expand credit union participation in member business and SBA lending. Officials from NCUA; SBA, including General Counsel David Javdan; CUNA; credit unions; credit union service organizations; and CUNA's lending council...

  • Prime Alliance Implements Emerging Market Toolkit from Dexma

    TUKWILA, Wash. - Prime Alliance Solutions is beta testing Dexma's Emerging Market Toolkit that translates mortgage documents into the borrower's native language, thereby allowing mortgage lenders to be more effective with lending to Latinos and other cultural groups. Initially, Emerging Market Toolkit from DEXMA, whose online mortgage application powers the...

  • Oregon Credit Union Helps Charities With Statewide `Open House'

    EUGENE, Ore. - An unusual "statewide open house" sponsored by Northwest Community Credit Union to support Oregon charities hard-hit by the state's economic downturn proved a media hit "though we didn't see the branch traffic that we thought we might get." That was the assessment of credit union management after...

  • North Carolina CU Shows Off Ultimate High Tech Branch

    RALEIGH, N.C . - When it comes to mixing high tech and full service in its branches, North Carolina's second largest credit union, the $1.31 billion Coastal FCU, expects to set the pace - and likely break new ground - for member convenience starting next month. Underscoring a commitment to...

  • Newly-Expanded Church of the Brethren CU Readies CUSO to Offer Socially Responsible Investments

    ELGIN, Ill. - Nearly a month after the Church of the Brethren Credit Union received regulator approval to expand its charter to more than 135,000 parishioners nationwide, talks are underway to launch a CUSO that will offer socially responsible investments. The CUSO will follow the lead of the Brethren Benefit...

  • SECUWA Pioneers BPM Platform in Credit Union Land

    SEATTLE - Doing more with the same is the idea behind the adoption of the BizFlow business-process management (BPM) platform by School Employees Credit Union of Washington. SECUWA plans to complete the deployment in January and will use BizFlow to cut its processing time for VISA applications from 48 hours...

  • Should a League Merge or be Co-Managed? Decision Driven by Factors Unique to Each League

    DUBLIN, Ohio - Does the merger of the North and South Dakota credit union leagues and the pending consolidation of the Washington CU League with the Credit Union Association of Oregon, spell the makings for a trend in regionalization among credit union leagues? League presidents Credit Union Times spoke with...

  • Visions Ink Ready for Another 25 Years

    CLINTON, Md. - For 25 years Visions Ink has been providing marketing/communications support to credit unions, and President Maggie Fielding wouldn't have it any other way. "When we first started, we never dreamed the company would grow into the successful business that it is today or that we would offer...

  • Technology Thwarts Some Credit Card Fraud, But Problems Persist

    FRAMINGHAM, Mass. - Smaller financial institutions such as credit unions are the natural next targets for credit card fraudsters thwarted by the new technologies deployed by the big issuers. And regardless of the size, turning back the invaders, repairing damage and anticipating further attacks should be "at least a top-five...

  • NAFCU Discusses Risk-Based Capital with Top Policymakers

    WASHINGTON-NAFCU staff and board members recently met with top regulatory officials to discuss risk-based capital among other important issues for credit unions. NAFCU was joined by NCUA Vice Chair JoAnn Johnson for a lunch meeting, along with her Executive Assistant Holly Herman, and later caught up with Treasury Assistant Secretary...

  • Mortgage Bankers Association Boosts 2004 Loan Originations Forecast to $2.5 Trillion

    PHOENIX, Ariz. - The Mortgage Bankers Association has hiked its loan origination forecast for 2004 to $2.5 trillion, up from an earlier projection of $2 trillion. The MBA also now expects refinancing to account for 46% of originations in 2004. That compares to 66% in 2003 and 62% in 2002....

  • Five W's of Reporting Help Dupaco Community Credit Union Annual Report Shine

    DUBUQUE, Iowa -When does every member and potential member read an annual report? When it is in the form of a newspaper. For the past three years Dupaco Community Credit Union has delivered its annual report in a unique newspaper-type format and members love it. "We saw this as a...

  • MBA 2004 Technology Study: Top Mortgage Industry Leaders Committed to Technology Investment

    WASHINGTON - If credit unions involved with mortgage lending had any doubts about the impact technology has had on the mortgage industry, they just need to consider the following finding from the Mortgage Bankers Association's 2004 Technology Study: technology operating budgets in 2003 increased by 24% over 2002, and they're...

  • Langley Financial Services President Talks Taxes on Live Radio

    YORKTOWN, Va. - An ESPN radio sports show may not be the place listeners expect to hear advice on tax filings, but that's what they heard if they tuned in recently to a popular radio daily show. Victor Puliafico, president of Langley Financial Services, LLC represented the wholly-owned CUSO of...

  • Is the Future of Credit Union Branches Found in Components?

    MANCHESTER, Mo. - The branch is ready to once again take center stage in credit unions' strategic plans. According to a Datamonitor report entitled Branch Renewal in U.S. Retail Banking, not only will financial institutions transform the role and layout of branches, but they will also leverage the face-to-face nature...

  • House Overwhelmingly Passes Reg Relief, CURIA Adds More Cosponsors

    WASHINGTON-The credit union community's efforts to usher the Financial Services Regulatory Relief Act (H.R. 1375) through the House paid off with a 392-25 vote in favor of passage last Thursday, March 18, just as credit union relief legislation gains steam. CUNA Vice President for Legislative Affairs and Senior Legislative Counsel...

  • Oregon Credit Unions Cited as `Best Work Places'; Portland Teachers CU Comes in at No. 3

    PORTLAND, Ore. - Four Oregon credit unions have been named the "Best Companies To Work for in Oregon" by the Oregon Business Journal. Portland Teachers Credit Union, which has been on the publication's list for the last five years, jumped to No. 3 from No. 8 in the category of...

  • FOMC Maintains 1% Target

    WASHINGTON-For about three quarters now, the Federal Open Market Committee has kept its federal funds target rate at 1%. The Federal Reserve's monetary policy group announced March 16 that it would continue its "accommodative stance of monetary policy, coupled with robust underlying growth in productivity, is providing important ongoing support...

  • Public Relations Key to CU Success

    MADISON, Wis. - With the competition heating up, credit unions have to do what they can to stand out and experts say that public relations can help. According to the latest CUES manual PR for CUs, not only is PR a vital investment in long-term CU success but handled properly,...

  • Spain's Terror Attacks Trigger Flight to Safe Havens for Investors

    MADISON, Wis. - Credit unions may see a rise in U.S. Treasury Bonds from investors seeking safe havens in light of last week's terror attacks in Madrid, Spain. In its weekly Marketline report, MEMBERS Capital Advisors reports the "bottom line for investors is that the Madrid bombings have increased uncertainty...

  • EECU Named Official Credit Union of Fort Worth Brahmas

    FORT WORTH, Texas - EECU is hitting the ice with Central Hockey League's Fort Worth Brahmas. The $520 million CU has been named the official credit union of the professional minor hockey league team. "We are always looking for opportunities to serve the community," said President and CEO Robert Rogers....

  • Trust Services Case Study Featured at NACUSO's Annual Conference

    NEWPORT BEACH, Calif. - Some industry watchers say trust services will continue to be considered a viable CUSO strategy to capture member business going forward. Two experts who have firsthand knowledge will share details of how credit unions can compete with other trust firms. John Henry, CUNA Mutual senior vice...

  • Loss of College-Run Credit Union Seen As `Troubling'

    LAS VEGAS - Once there were more than 120 student-run credit unions on college campuses, but the number has dwindled to less than 20 and their demise "is troubling," according to the new head of the CUNA-linked Campus Credit Union Council. "I think there are valuable learning lessons lost on...

  • Wisconsin CUs Raise a Quarter Million for Kids

    PEWAUKEE, Wis. -Some 300 credit unions here have raised over a quarter million dollars for the Children's Miracle Network. According to the credit unions, the donation represents the most funds raised ever by credit unions. The credit unions will present a check during the annual nationally televised broadcast of Miracle...

  • Ohio Credit Union League Aligns With Other Groups to Protect Senior Citizens

    DUBLIN, Ohio - The Ohio Credit Union League is teaming up with several federal, state and local agencies to offer advice to senior citizens on how they can protect their personal and financial information. The League, along with representatives from the Ohio Consumers' Counsel, the Ohio Attorney General's Office and...

  • Service Plus CU Takes Time for Kids

    RIVERSIDE, Calif. - Service Plus Credit Union has found a creative way to build community relations while encouraging kids to read. The credit union has learned that a celebration of what would have been the 100th birthday of Theodore Geisel-better known as Dr. Suess proved to be a great opportunity...

  • Iowa CUs, League Partner with Local Agencies to Offer IRAs

    WATERLOO, Iowa - Consumers here saving towards their first home, college expenses or starting or expanding a business, may be able to get each dollar they save matched through a popular savings program. Through Operation Works' Building Assets for the Future program, the Iowa Social and Economic Development (ISED) program...

  • Straub Running For Columbia Board

    VANCOUVER, Wash. - Steve Straub, key supporter of the dissident member group Save CCU and former Columbia CEO, is one of the candidates for the replacement board of the $619 million Columbia Credit Union. If Columbia members vote to recall the eight board members, Straub and the other candidates backed...

  • WCUF, Minority Group Team Up to Offer Free Financial Education, Financial Services Access

    FEDERAL WAY, Wash. - The Washington Credit Union Foundation recently inked a deal with a local minority organization to provide free financial education and access to financial services to minority and women business owners in the state. The partnership between WCUF and the Washington State Office of Minority and Women...

  • Connecticut Banking Commissioner Warns that Free Check in the Mail May Come with Costs

    HARTFORD, Conn. - State Banking Commissioner John Burke is cautioning consumers not to be in such a hurry to cash unsolicited checks sent to them by their credit card company. The checks are real, he advised, and if cashed, the money belongs to the consumers, but the price consumers may...

  • CUNA Issues Member Call to Action on Possible Tax Hearing

    WASHINGTON - CUNA Vice President of Political Affairs Richard Gose revealed last week that the trade association has sent out a Call to Action to its members to get credit unions' grassroots moving on the rumor of a potential hearing on tax exempt entities. According to Gose, the Call to...

  • NCUA Helps Kenyan Group Develop Credit Union System

    ALEXANDRIA, Va.-Sixteen Kenyan credit union representatives met with NCUA officials recently to discuss their efforts to create a legal and regulatory scheme for credit unions. "Clearly, Kenya has made significant strides in further developing a safe and sound regulatory structure for their credit union system," said NCUA Chairman Dennis Dollar....

  • NAFCU Lobbyist: New NCUA Board Member Unlikely to Get a Recess Appointment

    WASHINGTON - The White House has apparently struck a deal that, at least for last week's Senate recess, no recess appointments will be made. Senate Minority Leader Tom Daschle (D-S.D.) worked out a deal with the administration that no recess appointments would be made while the Senate is on recess,...

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

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

  • FCUs That Added Underserved Areas Have Had Sharply Higher Growth Trends

    ALEXANDRIA, Va. - Federal credit unions that have added underserved areas to their fields of membership have had three year's of sharper growth in membership, shares and loans compared to Federal credit unions overall, according to data the NCUA has released. The federal credit unions that added underserved areas saw...

  • Michigan CUs to Get a NYCE Offer

    MONTVALE, N.J. - The NYCE Corporation has announced a new sales and marketing partnership with the Michigan Credit Union League. Through its wholly owned subsidiary, CUcorp Inc, credit unions in Michigan will be able to purchase a full complement of NYCE products, including NYCE ATM and point of sale networking...

  • NASA FCU Taps into Small Business

    UPPER MARLBORO, Md. - NASA Federal Credit Union is looking to reach local entrepreneurs. The $650 million credit union has rolled out a Business Services offering that combines 20 products and services designed initially for small businesses. Products range from business checking and savings accounts to a variety of commercial...

  • New York State League Designates March "Hike at Home" Month

    LATHAM, N.Y. - The New York State Credit Union League has designated March as time for New York credit union leaders to step up their meetings with their state and federal legislators, right in their hometowns. During March, each member of the League's board of directors will lead at least...

News

  • Callahan Deploys Digital Facts Channel for CreditUnions.com

    WASHINGTON - Helping software learn while learning a good bit themselves about what credit union members want and need to know is a hot activity for some folks at Callahan & Associates right now. The advisory firm has contracted with Fuze Digital Solutions of Bellevue, Wash., to deploy Fuze MemberLink,...

  • Credit Union of Texas Sets SAIL with DealerTrack in Automated Lending Solution

    DALLAS - Jerry Thompson doesn't mind the "blood, sweat and tears" of being on the bleeding edge of leading edge technology, especially when the risks are so quickly rewarded. Thompson is senior vice president/CIO of Credit Union of Texas, which in January launched its participation in the automated auto-financing loan...

  • Forrester Study Shows Slight IT Staffing, Spending Increases in 2004

    CAMBRIDGE, Mass. - Across North American businesses, information technology staffing will grow just slightly in 2004, tracking IT budget forecasts of meager growth, according to a new study by Forrester Research. Credit unions and other financial service organizations are part of that trend, and IT directors in CU land who...

  • Study Finds Web Metrics Lacking as Online Offerings Grow

    MADISON, Wis. - Technology whizzes looking for a new niche might want to consider a key finding in the "Credit Union E-Metrics Study - 2003." The report, the culmination of a six-month study by the University of Wisconsin E-Business Consortium, found a shortage of available software tools credit unions can...

  • Straight-Through Processing Adoption, Step-by-Step in Credit Union Industry

    COLUMBIA, S.C. - Straight-through processing (STP) may get legs in 2004, but adoption of the system that some analysts say will represent a sea change in the financial services industry is expected to take place step by step in credit union land. The automated end-to-end processing of financial transactions is...

  • Experian Putting Dialup Out to Pasture in Favor Of Internet Credit Pulls

    COLUMBIA, S.C. - For at least one major credit bureau, dialup modem connections are going the way of the rotary phone. Experian plans to retire its dialup network by May 31 in favor of the Internet, which offers greater speed, functionality and service options for loan officers pulling credit reports...

  • Exception-based Alerts, Notifications Seen As Leading Edge for New Relationship

    FRAMINGHAM, Mass. - Emerging alert and notification technology will be make it easier for credit unions to reach out to new members and stay in more profitable touch with older ones. Financial Insights analyst Richard J. Bell expects the leading medium to large financial institutions in the country to deploy...

  • SPECIAL REPORT: DATA PROCESSING & TECHNOLOGY

    Looking for new ways to reach new members and remain in touch with current ones? Turn to pages 22-30 to read about exception-based alerts and other new technologies.

  • OSI Touts Biz Services Functionality In E-Commerce Platform Boost

    GLASTONBURY, Conn. - Open Solutions Inc. has beefed up its offerings to the growing credit union business services market with a new release of its e-commerce product suite. A QuickBooks interface and new ACH origination features are among the enhancements to e-Commerce Banker 5.0, the company said, as is check...

  • Aimbridge Group Gives CUs Online Access To Aimbridge Desktop Tools

    DENVER - The Aimbridge Group introduced what it describes as "a service oriented architecture suite" that allows the company to publish its vehicle loan application decisioning and funding tools on the Internet, thereby providing credit unions easier access to them. Aimbridge Explorer is built on Microsoft .NET technology. It gives...

  • HAVING A VISION

    Visions Ink started out 25 years ago providing marketing and communications support exclusively to credit unions. Turn to page 46 to read about the president's opinions on how CUs' marketing needs have changed.

Letters to the editor

  • Better Marketing Key to Growing CU Membership

    I enjoyed Mike Welch's column on the subject of Membership Growth in the March 20th issue ("Slowdown in Membership Growth Makes No Sense.") As a long time board member and active volunteer, it is a question my fellow volunteers, staff, and I have been pondering for some time. While on-going...

  • It's Not All About Greed

    Your question of the day on the Credit Union Times Web site - "Do you think the potential for individual profit is at all playing a role in the decision making process of the directors and upper management of credit unions who have decided to convert to a bank?" -...

  • Blaine's Remarks, Behavior Embarrassing for CU Industry

    After listening to Jim Blaine's comments at the GAC in his debate with the ABA's Ken Fergeson, not only was I not applauding, but I was embarrassed, humiliated and outraged by one of our industry `leader's' display of some of the most rude, crude and pompous behavior, the likes of...

  • Poll Question Could be Better Worded

    Please allow me this opportunity to express an opinion about the wording on the most recent poll on the Credit Union Times Web site regarding the credit union conversions to banks issue ("Do you think the potential for individual profit is at all playing a role in the decision making...

  • Blaine's Remarks Spoiled GAC

    Mike Welch wasn't the only person in the 3,000 plus audience at the GAC who felt credit unions came off an embarrassing second best. I for one thought the "debate" was the low spot of one of the best GACs in recent years. Everyone I talked to after the "debate"...

  • Blaine's Comments Harmful To CU Movement

    I am in complete agreement with Mike Welch regarding the debate at the GAC between Jim Blaine and Ken Fergeson. I thought the barbs and "brothel' remark by Blaine that was reported in Credit Union Times was very unprofessional and does harm to the movement. I feel the same about...

  • Blaine's "Crass" Remarks a Disservice to CUs

    I have just read Mike Welch's column, "GAC Again Setting for [Mostly] Highlights" in the March 3rd issue of Credit Union Times. Thank you for your comments regarding the "debate" between Ken Fergeson and Jim Blaine. I was anxious to read Welch's column, trusting that he would share his overall...

  • Blaine's Language Embarrasingly "Colorful"

    I wanted to comment on Credit Union Times' coverage of the debate at GAC between Jim Blaine and Ken Fergeson. The "colorful language" you refer to did fly - exclusively from Jim Blaine's mouth. His representation of our industry was immature at best, demonstrating an appalling lack of professionalism and...

  • Blaine Doesn't Represent Credit Unions

    I'm not sure where Mike Welch was sitting during the Blaine/Fergeson debate at the GAC, but any applause following that fiasco from the area where we sat was in appreciation that it was finally over. Several folks, including all those in our group, expressed the disgust with the tone the...

Opinion

  • For Best Results, Look for the Best Practices

    It had its roots in the manufacturing sector and the "process improvement" craze. Now it's spawned an entire industry offering research, consulting, seminars, and other materials. It's the concept of "best practices," and it's clearly gotten the attention of credit unions, especially when it comes to technology. Several factors make...

Publisher's Column

  • From Humble Beginnings, Marketing Has Arrived.But

    As hard as it might be for today's full-time management level marketing professionals currently working for credit unions to believe, at one point there was no such thing as credit union marketing. In fact, to many of those then involved with CUs, including most CEOs, marketing was a dirty word....

News Briefs

  • Utah Gov. Tells League She Supports Duality

    SALT LAKE CITY - The Utah League of Credit Unions said it is heartened by recent comments of Gov. Olene Walker supporting the dual chartering system and "equality" between state and federal charters. The state's new Republican governor made her comments at the League's annual meeting and were repeated in...

  • ICBA Elects New Officers; Guenther Retires

    SAN DIEGO, Calif. - The Independent Community Bankers of America Board said good-bye to their long-time CEO and welcomed its new officers for 2004-2005 at its 2004 National Convention and Techworld in San Diego. Last Tuesday, ICBA President and CEO Ken Guenther, a credit union foe who held the position...

  • CDFI Fund Will Perform Better, Abernathy Says

    WASHINGTON - The CDFI Fund, a program under the U.S. Treasury Department that has helped fund community development credit unions, will perform better in 2004 than in 2003, according to testimony from Assistant Secretary For Financial Institutions Wayne Abernathy. Testifying before the Subcommittee on VA, HUD and Independent Agencies of...

  • Fairfield County CU Approved to Convert Back To Federal Charter

    STAMFORD, Conn. - Fairfield County CU, chartered in 1934 as a federal credit union is once again a federal credit union. The $36 million state-chartered credit union received approval March 5 to convert back to a federal charter. The credit union converted from a federal to a state charter in...

  • Credit Union Division of California DFI Re-Accredited by NASCUS

    ARLINGTON, Va. - The Credit Union Division of the California Department of Financial Institutions, the regulatory authority of the California agency responsible for the examination and supervision of the state's 216 state-chartered credit unions, has earned a five-year re-accreditation by NASCUS. To earn NASCUS accreditation, an agency must meet or...

  • America First Can Still Use Talk Host in Ads

    SALT LAKE CITY - America First Federal Credit Union said it has reached an accord with a Salt Lake City radio station over using a popular talk-show host in its radio commercials after an ad agency for Zions Bank, a CU nemesis, objected to the deal. "The local papers didn't...

  • State-Sponsored 529 College Plans Under Scrutiny

    WASHINGTON -Credit union members may be among those concerned that the 529 college tuition savings plans they opened for their children may have too many fees to offset any tax advantages. House Financial Services Committee Chairman Michael Oxley (R-Ohio) recently wrote to SEC Chairman William Donaldson with concerns about the...

  • Trade Associations have a lot to say about Check 21 and Reg CC

    WASHINGTON-In extensive comments to the Federal Reserve regarding proposed changes to Regulation CC in light of the Check Clearing for the 21st Century Act, CUNA and NAFCU raised several concerns. Both groups' comment letters included a long list of subjects they wanted to express their views on from definitions to...

Tech Bytes

  • DocuMatix, Marketing CUSO Form Strategic Alliance

    SALT LAKE CITY - DocuMatix LLC and Beyond Marketing LLC have announced a partnership to provide e-mail marketing initiatives to credit unions. Kansas City-based Beyond Marketing, the only marketing CUSO in the industry, specializes in e-marketing strategies, campaign creations and implementation and analysis, the companies said. Salt Lake City-based DocuMatix,...

  • TransData, DigitalMailer Partner to Offer Check Images through Check Processor

    NEENAH, Wis. - TransData Services and DigitalMailer Inc. are joining together to offer a check imaging interface to credit unions using TransData's check processing services. Two of Neenah-based TransData's nearly 60 Wisconsin credit union clients - CitizensFirst CU and Parker Community CU - already are using the check imaging interface....

  • PSCU Financial Services Chooses to `Xpedite' Notification Offerings

    ST. PETERSBURG, Fla. - PSCU Financial Services is adding interactive voice alert notification to its lineup of member outreach solutions, the CUSO says. The functionality is part of the voiceREACH platform from Xpedite System, and will allow member credit unions to use personalized, secure voice messages and e-mails to alert...

  • RDS Promotes Directors to VPs, Hires Veteran CU-Side Sales Manager

    INDIANAPOLIS - re:Member Data Services has promoted three employees from directors to vice presidents and made several other key personnel moves, the core data processor announced. Kent Campbell has been named vice president of information technology and will continue to oversee the IT department, while Crystal Yeagy will continue to...

  • Backing Up Online: Reed Data Introduces Web-Based Data Store

    MIDWAY, Utah - Reed Data Inc., a longtime provider of optical storage and backup systems to credit unions, has introduced an Internet-based backup and offsite disaster recovery solution. The 2020iSync system is browser based and allows credit unions to backup data for both routine and emergency purposes through a secure...

Looking Back

  • CREDIT UNION TIMES Vol. 11, No. 13 March 29, 2000

    Looking back four years ago finds NCUA Board Member Dennis Dollar's much anticipated Regulatory Flexibility and Exemption Program making its debut. Despite reservations by NCUA Board Chair Norman D'Amours over the advance notice of proposed rulemaking that would relieve FCU's of regulatory restriction in six distinct areas, Reg-Flex was given...

Advertisement. Closing in 15 seconds.