Credit Union Times Magazine May-05, 2004

News

News Briefs

Tech Bytes

  • Summit Information Systems Hosts Interchange Conference

    CORVALLIS, Ore. - About 40 senior executives from credit unions across the country gathered recently for Summit Information System's Advanced Technology Interchange Conference in Indian Wells, Calif. Participants attended discussions and presentations on developments from the core data processing provider, and heard from speakers that included Mark Sievewright, former president...

  • Deepening Online Relationships Focus of New Report from Callahan

    WASHINGTON - How to attract and retain members, and deepen the relationship, through the online channel is the focus of a new report from Callahan & Associates. The white paper is based on results from Callahan's Survey Consortium that show that up to 79% of credit union members using services...

  • Yodlee Now has Instant Account Verification

    REDWOOD CITY, Calif. - Account aggregation provider Yodlee has launched Instant Account Verification, its new risk management product that provides real-time account verification. It verifies account ownership and available balance for just about any online transaction, including account openings and fund transfers. "By streamlining the account verification process, Yodlee helps...

  • Puerto Rico Credit Union Launches fxLending Automated Platform

    AUSTIN, Texas - FundsXpress said that Cooperativa Zeno Gandia, a $206 million credit union in Puerto Rico, has deployed the fxLending automated lending solution. fxLending is a recent addition to FundsXpress' suite of Internet-based financial services and combines application origination, underwriting and management solutions. Cooperativa Zeno Gandia is currently utilizing...

  • qbt Systems Broadens Base in Credit Union Space

    NEW YORK - Being in the middle has proven to be the sweet spot for qbt Systems Inc., whose middleware solutions have quietly gained traction connecting core systems and key third-party applications at some big credit unions and technology providers across the country. New York-based qbt's first client was Credit...

  • Members Mortgage Spins Off Online Origination System for CUs

    WOBURN, Mass. - Members Mortgage Co. is spinning off its in-house online origination system as a separate company, MortgageClick (www.mortgageclick.biz.) The system is powered by the Prime Alliance Solutions program, which combines Fannie Mae's automated system, Desktop Underwriter, with a Web-based processing platform from Dexma, a Minnesota-based mortgage technology provider....

  • State Employees Credit Union Upgrading to Corillian Voyager 3.1

    PORTLAND, Ore. - The $11.4 billion State Employees CU in Raleigh, Va., will upgrade to Corillian's Voyager 3.1 online banking platform. Corillian Voyager 3.1 includes online banking, bill pay and presentment, and small business banking functionality. Rick Rhoads, senior vice president of e-services at SECU, said the credit union wants...

  • Affinity FCU Redesigns CUcarzone

    BASKING RIDGE, N.J. - Affinity FCU recently launched a redesign of its CUcarzone Web site, which specializes in helping members find used cars, that the CU says will improve business and member satisfaction. "Affinity's CUcarzone site provides easy access to information about one-owner leased cars, trucks and SUV's that have...

  • eFunds Acquires Customer Verification, Loss Management Solutions

    SCOTTSDALE, Ariz. - Electronic payments provider eFunds Corp. has acquired Penley Inc., a provider of PATRIOT Act and OFAC compliance services, and fraud investigation software vendor Loss Control Solutions Inc. eFunds said it will integrate the customer verification and case management software platforms into its ChexSystems lineup, now in use...

  • Online Resources Reports Black Ink for First Quarter

    McLEAN, Va. - Online Resources Corp. reported continuing profitability but a drop in revenue in the first three months of 2004 compared with the year-ago quarter. The provider of Internet banking and payment services said first quarter 2004 revenue was $9.8 million, compared with $11 million in the year-ago period,...

  • OSI Reports Profit Jump From $100,000 to $3 Million in First Quarter

    GLASTONBURY, Conn. - Open Solutions Inc.'s well publicized contract lands are translating into black ink for the e-commerce and core processing technologies provider. The company, which trades on the Nasdaq as OPEN, said first quarter 2004 revenues were $21 million, a 70% jump from the $12.3 million reported in the...

Letters to the editor

  • Hooray for Blaine and Padgett

    Hooray for Clyde Padgett's letter dated April 14, 2004. Mr. Padgett made an articulate summation of my thoughts concerning the hullabaloo over the Credit Unions vs. Bankers debate at the 2004 Governmental Affairs Conference. I too was embarrassed and taken aback by the barrage of criticism from some individuals in...

  • Blaine's Passion is Commendable

    Like many, I have been reading all the letters about the Jim Blaine/Ken Fergeson debate. Jim's comments on the Opinion page of the April 21 issue of Credit Union Times shows, to me, a passionate Jim Blaine. Prussian military philosopher Carl von Clausewitz once stated that the passions of the...

Publisher's Column

  • Announcing the Banking Industry's PIG Awards

    There are probably already too many awards programs. But I decided there was need for another one, especially in light of recent developments in the banking industry's all-out war to eliminate credit unions. So I created it. The new awards honor "achievements" in the banking industry by individual bankers and...

People

  • EAST

    Virginia Credit Union League, Lynchburg, has appointed Dawn Lindley marketing/financial literacy specialist. ACCESS Federal Credit Union, Clinton, N.Y., has named Patrick T. Monaghan vice president of commercial lending. AmeriCU Credit Union, Utica/Rome, N.Y., has promoted Brandon M. Foster Sr. to mortgage sales executive. Vermont Federal Credit Union, Burlington, has elected...

  • SOUTHWEST

    TruWest Credit Union, Tempe, Ariz., has named Alan Althouse executive vice president/chief financial officer. Security Service Federal Credit Union, San Antonio, has promoted Christopher Allen to vice president of its 24/7 member contact center. San Antonio Federal Credit Union,has promoted Cheryl E. Flanagan to senior vice president. Firstmark Credit Union,...

  • MIDWEST

    Sunrise Family Credit Union, Bay City, Mich., has appointed Freya McGinty president/CEO. Community Financial Credit Union, Plymouth, Mich., has named Michael S. Bullis vice president of investments/ insurance and John E. Johnson financial consultant. Royal Credit Union, Eau Claire, Wis., has named Lisa Stelter home loan officer and Elise Ramussen...

Pictorial

  • Truliant Federal Credit Union

    Clemmons, North Carolina Design/Build Firm/Merchandising: DEI, Inc. Size: 4,559 square-feet Length of Time to Build: 10 months Brand Concept: "Southern Casual" How Concept Reinforced in Retail Environment: The retail services combined with the Southern Casual atmosphere help create a destination. Featured on neutral-colored walls, the large-scale, eye-catching lifestyle graphics, framed...

  • Norlaco Federal Credit Union

    Fort Collins, Colorado Design/Build Firm/Merchandising: Emick, Howard & Seibert; Weber Marketing Size: 5,100 sq. ft. Length of Time to Build: From ground up, Drake branch construction took eight months. Brand Concept: "Financial Fitness and Physical Fitness" How Concept Reinforced in Retail Environment: Destination retail creates a memorable blend of hospitality...

  • Yolo Federal Credit Union

    Davis, California Design/Build Firm/Merchandising: Emick, Howard & Seibert; Weber Marketing Size: 3,300 square feet Length of Time to Build: Tenant improvement took eight weeks for construction. Brand Concept: "The Local Difference" How Brand Reinforced in Retail Environment: Immediately recognizable, through multiple levels, it's intuitively stated through the environment and the...

  • Vermont State Empl. Credit Union

    Rutland, Vermont Design/Build Firm/Merchandising: DEI, Inc. Size: 1,250 square feet Length of Time to Build: Interior build-out took approximately eight months from Think Tank concepts to completion. Brand Concept: "Our Focus is You" How Concept Reinforced in Retail Environment: Marketing messages convey the brand throughout the building through graphic techniques...

  • Credit Unions Turn to Retail to Create Destination Branches Members Crave

    WEST PALM BEACH, Fla. - With credit unions focusing more on expressing their uniqueness through branding retail facilities seems to be the new standard. According to design/build firm Emick, Howard & Seibert Principal Paul Seibert, effective retail merchandising has proven to increase member awareness of key products and services 20-40%....

In Other News

  • DONATIONS

    Mid-Atlantic Federal Credit Union, Gaithersburg, Md., staffers have donated their time to participate in the Upper Montgomery County YMCA's Healthy Kid's Day Celebration. The annual event focuses on encouraging kids to be healthy in spirit, mind, and body from eating right and exercising regularly, to rejecting drugs and alcohol. Over...

  • AWARDS

    Greater Warren Credit Union, Ohio has presented credit union member David Dorchock the Mickey Wilson Spirit of Giving Award. Dorchock was recognized for his continuous generosity, mentoring and volunteerism in the community. The Mickey Wilson Spirit of Giving Award is presented every two years to a credit union member who...

Opinion

Briefs

  • NACUSO 2004 Annual Conference Draws Nearly 400 Attendees

    LAS VEGAS - Approximately 400 registrants are expected to turn out for NACUSO's 2004 Annual Conference, May 2-4 at the Caesars Palace in Las Vegas, Nev. The three-day conference starts off with a pre-conference meeting hosted by NACUSO General Counsel Guy Messick of the Credit Union Caf, which gives credit...

  • Toler Named President of CUMA

    FAIRFAX, Va. - Scott Toler was appointed president of Credit Union Mortgage Association, a 25 year-old mortgage CUSO that provides residential mortgage originations and servicing. Toler has more than 15 years of experience in all facets of mortgage lending, including managing local mortgage offices as well as being the regional...

  • CUAC Expands into Fort Worth/Denton Markets

    HOUSTON, Texas - Credit Union Acceptance Corp. has expanded into the Fort Worth/Denton markets with the addition of Community CU based in Plano, as both an owner and client of the CUSO. CUAC was founded by eight Houston-based credit unions to represent credit unions in the auto finance market. Community...

  • Mike James, Formerly with Wescom, Appointed CUDL VP Lending Services

    RANCHO CUCAMONGA, Calif. - CU Direct Lending Corp. has appointed Mike James as vice president, lending services for the indirect lending CUSO. The newly created position is the latest in a round of management additions and reorganizations by the CUSO which it says are intended to improve and expand services...

  • CUCorp Partners with HRValue Group

    NORTHVILLE TOWNSHIP, Mich. - CUCorp, a wholly-owned subsidiary of the Michigan Credit Union League has partnered with HRValue Group LLC, a credit union human resources solutions provider made up of a consortium of state leagues and CUNA Mutual Group. In addition to Michigan, the other state leagues represented in HRValue...

Quotes Worth Quoting

  • Quotes Worth Quoting

    "If credit unions are to remain competitive, they can't get bogged down with operating a CUSO just for the sake of having this separate business if the credit union determines it's not in their best interest." NACUSO President Bob Dorsa commenting on credit unions' decisions whether to offer services directly...

Beyond the Job

In Memoriam

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