Credit Union Times Magazine May-12, 2004

  • CUSOs in Position to Help CUs Continue Growing As Economy, Interest Rates Change

    LAS VEGAS - A strengthening economy is welcome news to consumers. But with interest rates starting to rise, credit unions can expect slower asset growth and additional spread compression. CUSOs are in a good position to help credit unions deal with the challenges of the changing economy. Speaking at NACUSO's...

  • Good Time to Pursue More Services for Unbanked

    ANN ARBOR, Mich. - Profressor Michael Barr assigns efforts to improve financial services for low-income families over the past few years an `incomplete' grade. However, Barr suggests the current election year may actually be a good time for credit unions to push for improvements and boost that grade. "I think...

  • Bianchini Responds to "Misleading Information" In Newspaper Article on Bankers' View of CUs

    TULSA, Okla. - Calling attention to "several pieces of misleading information" the Oklahoma Credit Union League claims were included in a May 1st article in The Tulsa World - "Banks target credit unions" - League President Bob Bianchini wrote a letter to the editor of the newspaper to clarify the...

  • Assess Members' Age, Net Worth, Need, Before Launching Trust CUSO, Experts Tell NACUSO Conference Attendees

    LAS VEGAS - If wealth-characteristic research shows members would benefit from trust services, credit unions and CUSOs have several options to choose from in bringing a wide array of offerings to their members, two experts recently told attendees at NACUSO's annual conference. Speaking before nearly 200 attendees on May 3,...

  • Check Cashers Get Political, Start Voter Registration Drive

    HACKENSACK, N.J. - The Financial Service Centers of America, the trade association for the nation's check-cashing outlets, has announced check cashers' first-ever voter registration drive. "FiSCA believes that every voice should be heard and that every vote does count. That's why FiSCA has established this voter registration drive," said Gary...

  • Alaska USA FCU Offering Hybrid ARMs Products

    ANCHORAGE, Alaska - Just a few weeks after a ruling by the U.S. Department of Housing and Urban Development (HUD) took effect allowing Hybrid Adjustable Rate Mortgages (ARMs), Alaska USA FCU and its affiliates have introduced FHA insured 3/1 and 5/1 Hybrid ARMs. The products are 30-year mortgages, with a...

  • Loss of Small CUs to Mergers Raises Red Flag, Regulators and Small CU CEOs Meet To Discuss Concerns

    FEDERAL WAY, Wash. - The declining number of credit unions due to mergers or charter conversions shows no signs of abating. But the large proportion of small credit unions that are being lost to mergers with larger CUs has regulators taking a closer look at the factors driving this trend...

  • Lake Michigan Moving Through the Bank Conversion Process; Has Sent Disclosures to NCUA for Review

    ALEXANDRIA, Va. - Lake Michigan Credit Union, the $1 billion credit union headquartered in Grand Rapids, Michigan, that is seeking to change its charter to a mutual bank has submitted the disclosure notice required by NCUA regulations to the agency for review. Once the agency indicates that it does not...

  • In a Major Online Strategic Move, Navy FCU Decides to Offer Bill Pay for Free

    VIENNA, Va. - When you're a credit union with over two million members, eliminating a fee can have a major economic effect on the credit union while impacting the lives of a few million people in a small way. The $21 billion dollar, two-million member Navy FCU announced last week...

  • Becker, Chandler Reelected to NCBA Board

    WASHINGTON - Fred Becker, president/CEO of NAFCU, and Kevin Chandler, president/CEO of the Minnesota Credit Union Network were reelected to serve on the board of the National Cooperative Business Association for another three-year term each. In recent months, the NCBA has been very active on two important credit union issues...

  • Chairman Dollar Exits in Style

    WASHINGTON - For the first time in agency history, an outgoing NCUA Chairman was honored by his home state U.S. senators with a farewell reception at the Capitol. Mississippi Senators Trent Lott (R) and Thad Cochran (R) hosted a reception for former NCUA Chairman Dennis Dollar on Thursday, April 29....

  • House Subcommittee Approves Tiberi's Zero Downpayment Legislation

    WASHINGTON - The House Financial Services Housing Subcommittee on May 5 approved bipartisan legislation that would increase homeownership by eliminating the downpayment requirement for families and individuals who buy homes with Federal Housing Authority (FHA)-insured mortgages. H.R. 3755, the Zero Downpayment Act of 2004 which was introduced by Rep. Patrick...

  • First Financial CU Joins Members Business Services

    SAN BERNARDINO, Calif.-First Financial Credit Union is the latest credit union to join in partnership with Members Business Services. "Our goal is to meet the growing needs of our membership and the communities we serve. Through the expertise of Members Business Services, we will be able to rapidly and economically...

  • Credit Union Mergers Pick Up in March, 28 Small CUs Disappear

    ALEXANDRIA, Va. - Twenty-eight credit unions under $10 million in assets disappeared via mergers during the month of March, according to NCUA's most recent monthly data. (see related story, page 1) A total of 34 mergers occurred in March, the most since October 2003. Of those 28 under $10 million,...

  • CUSOs Can Harness Technology to Create Strategic Business Opportunities

    LAS VEGAS - With millions of Americans using the Internet everyday for various activities, the opportunity is there for CUSOs' taking to make the virtual channel productive for them. The objective, says Ron Daly, president/CEO of DigitalMailer Inc. and Donna Hartmann, president of Northwest Services LLC, a wholly-owned CUSO of...

  • Members CU Pocket-Size Payment Comparison Card Lets Members Carry Rate Info With Them

    WINSTON-SALEM, N.C. - Since members can't take their credit union with them when they shop for a car to remind them of the pitfalls of auto dealers' 0% financing offers, Members Credit Union has designed what it considers the next best thing - a pocket-sized payment comparison card. The "unique"...

  • Matz Calls Hawaiian CUs Models of Service

    KONA, Hawaii-NCUA Board Member Debbie Matz, during her keynote address at the Hawaii Credit Union League's annual convention, said that the island state's credit unions should serve as models for mainland credit unions of how to serve their members. "As I learn more about the innovative ways that your credit...

  • Utah League Seeks to Derail Stephens' GOP Candidacy

    SALT LAKE CITY - Calling his candidacy tainted by a "savage and successful" attack on the industry, the Utah League of Credit Unions is counting on the state's Republicans to turn back the gubernatorial bid of House Speaker Marty Stephens. In letters sent April 29 to delegates voting in the...

  • Texas Regulator Moves Forward in Search for Former Policyholders Due $7 Million

    AUSTIN, Texas - The Texas Department of Insurance is pressing on with its search to find the nearly 30,000 former policyholders who are due $7 million from a defunct insurance company that served credit union members. Members Mutual Insurance Co. owned and operated Members Service Insurance Co. and Members Insurance...

  • Texas Delegation Travels to Mexico for Signing Of CPM's Technology Agreement, Annual Meeting

    LEON, Mexico - Caja Popular Mexicana - the largest credit union in Mexico - is one step closer to realizing its vision of a shared branching network with its cooperative counterparts in the United States. Several representatives from the Texas credit union movement witnessed the signing of an agreement April...

  • Southeast Corporate's Birdwell Says Corporate is Done Playing Defense

    TALLAHASSEE, Fla. - When Bill Birdwell arrived at Southeast Corporate three years ago he found a corporate with a lot of holes in its product and service menu. Today not only are those holes gone, but the $3.9 billion corporate offers a number of innovative products that other corporates don't....

  • With a Name Change, AllSouth Rejoins South Carolina League

    COLUMBIA, S.C. - Sporting a new name, the $356 million AllSouth Federal Credit Union - formerly called Fort Jackson FCU - said its decision to rejoin the South Carolina Credit Union League comes at the right time - when CUs are coming under bank attack. "Many years ago our management...

  • Share Plus Sends Charter Change Notices to Members; Multi-State Field of Membership Led to Move, CU Says

    PLANO, Texas - The 19,000 members of the $152 million Share Plus FCU will decide at a special meeting on July 23 whether or not they will remain a credit union or change their charter to that of a mutual bank, according to the disclosure notice the credit union sent...

  • Payroll Tax Eliminated from House Version of Texas School Finance Bill

    AUSTIN, Texas - A proposed payroll tax that would have applied to state-chartered credit unions was struck from the Texas House of Representatives' school finance plan before the bill was narrowly approved and sent to the Senate last week. As recommended by the Select Committee on Public School Finance, HB1...

  • Officer Says He's Leaving NCUF to get Back Into the Trenches of Community Development

    WASHINGTON - Gary Officer, executive director of the National Credit Union Foundation who resigned that office as of April 26, 2004, said the move was more about getting back to his roots than anything else. The 39-year old Officer also said that his departure was of his own accord and...

  • People Lining Up to Congratulate Johnson on NCUA's Chairmanship; Still a Two-Person Board

    ALEXANDRIA, Va. - Everyone from Senator Charles Grassley (R-Iowa) to now-former NCUA Chairman Dennis Dollar to trade association officials have lined up to welcome JoAnn Johnson to the NCUA chairmanship. Senator Grassley praised President George W. Bush's choice of a fellow Iowan for the NCUA chairmanship. "JoAnn's leadership will be...

  • SCHOLARSHIPS

    Tobyhanna Army Depot Federal Credit Union, Scranton, Pa., has named the recipients of its 2004 John Paul Ruggerio Scholarship. This year's first place winner was Emily Krzan of Bishop O'Hara High School $1,500; Gina Sacco of Abington Heights HS placed second $1,000; and $750 was awarded to third place winner...

  • Recently Conserved Dallas Educators Attacks NCUA's Conservatorship

    ALEXANDRIA, Va.-The former management of a small credit union recently conserved by NCUA is fighting to take back control of the institution. Dallas Educators Federal Credit Union (Selma, Ala.) was placed into conservatorship April 19 based on significant record-keeping issues and the financial condition of the credit union. The NCUA...

  • PSCU Faces Possible Member Changes As More Members Become Banks

    ST. PETERSBURG, Fla. - If the $161 million Sunshine State and $1 billion Lake Michigan Credit Union succeed in their attempts to change their charters they will be the second and third members of PSCU Financial Services members to do so and may force a change in the membership of...

  • Minnesota Life Acquires Popular CU Vendor Allied Solutions

    ST. PAUL, Minn. - Minnesota Life Insurance Company has acquired Indianapolis and Dallas-based Allied Solutions to provide credit unions with one-stop shopping for insurance, lending and marketing products. In the works for a little over eight months, Allied Solutions will become a wholly-owned subsidiary of Minnesota Life, but operate independently...

  • PALS Next Stop: New Ideas to Reach New Members

    HONOLULU - The next Partnering and Leadership Successes Workshop is set to cover "New Ideas to Reach New Members." "This unique workshop is inspired by a wide range of initiatives that have been successful in attracting new members from all walks of life," said NCUA Board Member Debbie Matz, who...

  • MasterCard Credit and Debit Both Show Double Digit First Quarter Growth

    PURCHASE, N.Y. - Both MasterCard's credit and so-called offline debit transactions in which a cardholder validates their transactions with their signature showed double digit growth in the U.S. in the first three months of 2004. MasterCard credit card purchase volume over the first three months of 2004 rose 12.5% over...

  • Corporate Central CU Partners With Business Lending Group

    HALES CORNER, Wis. - Corporate Central CU is joining the growing number of corporates offering their members business services. The $1.6 billion corporate has struck a deal with Business Lending Group located in Appleton, Wis., a CUSO owned by Fox Communities CU, CitizensFirst CU, Prospera CU and Pioneer CU. "The...

  • Why Are CUs Merging?

    According to NCUA Region V Director Melinda Love, the most frequent reasons given by small CUs for merging are: * expanded services - 61% of CUs merging nationwide say they want expanded services; * income pressure - 13% of merged CUs attribute mergers to poor financial conditions. Smaller CUs have...

  • North Carolina Credit Union Reps to Meet with State Reps as Part of NCCUL's "State Capital Connection"

    RALEIGH, N.C. - The North Carolina League, in conjunction with eight League chapters, has developed the "State Capital Connection" program to give credit union representatives the opportunity to get to know their elected officials in Raleigh, as well as for legislators to get feedback on issues important to credit unions....

  • Colorado's Mesa County Teachers FCU Changes Name, Expands FOM and Merges With Smaller CU

    GRAND JUNCTION, Colo. - In a move toward greater membership "diversity," the $60 million Mesa County Teachers Federal Credit Union converted to multi-county status the week of April 26th and adopted a new name, Western Rockies FCU. "Beyond our educational base, this change allows to reach a broader membership base...

  • Minnesota CUN Teams Up To Offer NEFE Workshops

    ST. PAUL, Minn. - Minnesota credit unions wrapped up a Senate-designated Financial Literacy Month with financial education workshops hosted by the Minnesota Credit Union Network, University of Minnesota Extension Service and the Minnesota Family Involvement Council. The three groups formed an alliance with the National Endowment for Financial Education (NEFE)...

  • CU Groups Named Co-Chairs for SBA Expo

    WASHINGTON - CUNA, NAFCU, and the National Federation of Community Development Credit Unions can be counted among several others as co-chairs of the Small Business Administration's Expo '04. The event is planned for May 19-21 at the Orange County Convention Center in Orlando, Fla. SBA's Expo offers entrepreneurs educational, networking,...

  • AWARDS

    Virginia Credit Union League, Lynchburg, has named Fort Belvoir Federal Credit Union Vice President of Marketing/Business Development Jacqueline R.C. Connor the Eugene H. Farley Jr. Professional of the Year. The statewide award is named for the retired CEO of the Virginia Credit Union League. Connor was recognized for numerous professional...

  • NAFCU Dispels Bankers Myths with Reality

    ARLINGTON-NAFCU has put together a two-page Myth v. Reality compilation of bankers' allegations about credit unions to share with members' lawmakers and with the media. The first myth they provide is that bankers say credit unions do not pay taxes. According to NAFCU, credit unions pay many taxes, like payroll...

  • Mid-Atlantic FCU Focuses On Education

    GAITHERSBURG, Md. - As Youth Week drew to a close, volunteers from Mid-Atlantic Federal Credit Union completed teaching an eight-week financial management course for eighth grade students at Mother of God School in Montgomery Village, Maryland. Weekly course topics ranged from "How to save money" and "Opening a checking account"...

  • Discovery FCU Bowls its Way to Youth Week

    WYOMISSING, Pa. - Discovery Federal Credit Union found that there is no better way to celebrate Youth Week than by hosting a Member Appreciation Bowling Party. Members of all ages enjoyed an afternoon of bowling, food, fun, and prizes. Discovery FCU also gave away prizes that included a $50 account...

  • CUSOs Meet New NCUA Chairman

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  • WWII Memorial Open to Public with Help from NAFCU

    WASHINGTON - The World War II Memorial in Washington, D.C., for which NAFCU worked to raise funds, recently opened to the public. "We are delighted that the World War II Memorial is now open to the public, and NAFCU members should be proud of their contribution to funding a project...

  • Lincoln County CU Mascot Busy During Youth Week

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  • Richard Myles Johnson Foundation Establishes Scholarship Honoring Bannan

    RANCHO CUCAMONGA, Calif. - The Richard Myles Johnson Foundation has created a scholarship honoring California Credit Union League vice president Kim Bannan who died April 23 from complications from a heart attack she suffered earlier in the month. The Kim Bannan Memorial Scholarship Fund will be used to assist credit...

  • Hanley, Royce and Johnson Meet on CURIA

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  • TNB Declared Best Place To Work

    DALLAS - TNB Card Services, the card services arm of credit union-owned Town North Bank, has been declared one of Dallas' Best Places To Work by the Dallas Business Journal. The recognition salutes TNB Card Services as one of the best employers in the mid-size company category - those companies...

  • Messick Reviews Steps in Moving Investment Services Under CU Umbrella

    LAS VEGAS - After two years, there's still no official word from the SEC on whether the agency will extend the license exemption applied to CUSOs under the 1993 Chubb Securities Letter allowing CUSOs providing broker/dealer services to receive commissions from the sale of mutual funds and other securities. Neither...

  • NAFCU Lists Several Necessary Updates under EGRPRA

    ARLINGTON, Va.-In response to a request for comment by NCUA pursuant to the Economic Growth and Regulatory Paperwork Reduction Act, NAFCU outlined a number of changes it would like to see in the category of "Consumer Protection: Lending Related Rules." NAFCU's comment letter said they would like to see the...

  • N.Y. CUs Can Qualify for Commission to Help Set Up 529 College Plans

    LATHAM, N.Y. - New York credit unions that assist students with 529 college savings plan may be eligible to receive a commission to offset the expenses involved. Due to a decision by State Comptroller Alan Hevesi, credit unions can qualify to receive the commissions by having staff members who are...

  • Maine CUs Help HS Juniors Flex Financial Fitness Muscles

    AUBURN- Maine's credit unions helped "pump-up" the money management minds of 150 high school juniors during the first ever Financial Fitness Money Management Experience Event. Students from six high schools participated in the three-hour event. Created as a unique and fun experience for high school juniors, the Financial Fitness Money...

  • NAFCU Names Annual Award Winners

    ARLINGTON, Va.-NAFCU has selected the winners of its 2004 "Beyond Expectations" Awards Competition. The competition honors Professional of the Year, Federal Credit Union of the Year, and Volunteer of the Year in two size categories: credit unions below $150 million in assets and credit unions over $150 million. Dow Louisiana...

  • HEW FCU Holds First Financial Fitness Day in Southeast D.C.

    ALEXANDRIA, Va.-HEW Federal Credit Union, located in Alexandria, Va., launched its expansion into Washington D.C. with its inaugural Financial Fitness Day April 24. Throughout the day residents of Southeast Washington enjoyed food, entertainment, rides for the children, and received vital financial information at each of the "10 Steps to Financial...

  • Desert Schools, Universal 1 Join List of CUs Accepting Matricula Card

    PHOENIX, Ariz. and DAYTON, Ohio - Desert Schools FCU and Universal 1 CU are the two newest credit unions to accept the Matricula Consular Card as a form of member identification. Desert Schools VP/Chief Information Officer Rondle Amstutz said the credit union's research division spent more than a year investigating...

  • U.S. Central's First Quarter Results Show Net Income and Assets Slightly Down From Last Year

    LENEXA, Kansas - U.S. Central's first quarter results are in. U.S. Central's assets were $39.4 billion as of March 31, up $4.4 billion from Dec. 31, but slightly lower than the $40.6 billion last year on March 31. Net income was also down in the first quarter, going from $19.4...

  • CURIA Expecting New Co-Sponsors Last Week?

    WASHINGTON - The Credit Union Regulatory Improvements Act (H.R. 3579) was expected to gain some more cosponsors last week, according to CUNA Vice President of Legislative Affairs and Senior Legislative Counsel Gary Kohn. "Cosponsors continue to trickle in and I think officially it's at 39 now, but that will be...

  • Delaware CU League Annual Meeting Celebrates Milestones, Building Stronger CU Operations

    NEW CASTLE, Del. - More than 200 participants attended the Delaware Credit Union League's annual meeting April 22-24 convening to celebrate milestones, network and hear strategies for building a stronger workforce. The League's keynote speaker, Darrell "Coach D" Andrews, spoke on three keys to adopting a "Thank God, It's Monday"...

  • Banks' Tax Push Hasn't Affected White House, Bush Reiterates Credit Union Tax Promise

    WASHINGTON - President George W. Bush wrote a letter to CUNA President and CEO Dan Mica expressing the administration's support for credit unions' tax exemption. "I support strongly the tax-exempt status of credit unions, and will continue to highlight the important contributions that credit unions make to our financial system,"...

  • Freedom CU Ties Child Safety into Youth Week

    PHILADELPHIA -Youth Week gave Freedom Credit Union an opportunity to focus on both financial literacy and child safety. Throughout the week, credit union staffers distributed free money management booklets for children, college funding guides, coloring books, and other gifts and treats to parents and kids alike. In addition, kids participated...

  • National CU Youth Week Prime Opportunity to Promote CUs and Financial Literacy

    MADISON, Wis. - Credit unions across the country spread the CU-word to young consumers during the National Credit Union "YOUth Make a Difference" Youth Week, April 18-24. Most credit union events focused on increasing the financial literacy of younger members while building awareness of the credit union difference. This year,...

  • Alliant CU Grants HS Students Sneak Peek at CU Life

    CHICAGO- As part of National Credit Union Youth Week, Alliant Credit Union employees welcomed 20 business students from local Maine East High School. Students were treated to a behind-the-scenes look at how a financial institution operates while learning about various career opportunities within credit unions. Plans are underway to expand...

  • California Federation of Teachers CU, Matadors Community CU Merge

    NORTHRIDGE, Calif. - Burbank-based California Federation of Teachers Credit Union has merged with Matadors Community Credit Union. MCCU currently has over $100 million in assets and serves 14,000 members. CFTCU had $2.6 million in assets and served some 2,312 members. The California Federation of Teachers is the California affiliate of...

  • SBA Names Telesis Community CU Preferred Lender

    CHATSWORTH, Calif.-Telesis Community Credit Union has earned Preferred Lender Program status from the Small Business Administration. "Combining our PLP authority and the ability to credit score the business owner's loan request will give us the leverage to better serve our small business members. When small business owners come to us...

News

News Briefs

  • Texans CU Invests $10 Million in CIF

    RICHARDSON, Texas - Texans Credit Union plans to make a $10 million investment on May 3 into the Community Investment Fund. The Texas Credit Union Foundation and the National Credit Union Foundation will each receive a portion of the investment's return. Texans has allocated its funds to go towards two...

  • Former NCUA Head to Take Position at Riggs Bank

    WASHINGTON - An early chairman of the NCUA is being considered as a possible officer at Riggs Bank, an institution which has faced $25 million in fines for failing to follow federal money laundering regulations, according to stories in the Washington Post and wire services. The stories report that Lawrence...

  • CUNA Mutual Provides Sample Letter to Treasury On Deferred Compensation Plan Ruling

    MADISON, Wis. - CUNA Mutual Group has posted a sample letter on its Web site that credit unions can send to the U.S. Department of Treasury to request a revenue ruling on nonqualified deferred compensation plans. The letter is in regards to an April 9 IRS private letter ruling that...

  • CUNA COO Council Undergoes Name Change

    MADISON, Wis. - Change is in the air as the CUNA Chief Operations Officer Council becomes the CUNA Operations, Sales and Service Council (OpSS). According to OpSS Council Chair Vicki Smith, the new name and logo better represent the increased roles service and sales play in current members' responsibilities. "The...

  • Rep. Maloney Named NCBA Honored Cooperator

    WASHINGTON-The National Cooperative Business Association recently awarded Congresswoman Carolyn Maloney (D-N.Y.) the Honored Cooperator Award for her support of cooperative businesses. National Cooperative Bank President and CEO Charles M. Snyder presented the award to the senior member of the House Financial Services Committee, thanking her for her "unswerving dedication to...

  • NCUA Liquidates Two CUs

    ALEXANDRIA, Va. - NCUA recently liquidated two credit unions. It announced April 30 that it liquidated Oak Cliff Community Federal Credit Union in Dallas and authorized purchase and assumption of its assets and shares by Your Federal Credit Union. Your Federal Credit Union, which has already taken over the East...

Breaking News

Tech Bytes

  • MDC Now Into CRM

    MADISON, Wis. - MEMBERS Development Company's latest focus is Customer Relationship Management. MEMBERS Development, owned by CUNA Mutual and credit unions, is an R&D firm that uses its credit union owners as a gauge for what products and services there is a need for in the industry. The company has...

  • Next Callahan Survey to Focus on Filling Online Loan Apps Channel

    WASHINGTON, D.C. - Credit unions can go to the source - their members - to find out how to improve and grow the Internet loan application channel in the latest project by Callahan & Associates' Survey Consortium. The survey - comprising 15 brief questions - will be placed by participating...

  • HFS Buys Electronic Mortgage Doc Operation from Greatland

    ATLANTA - Harland Financial Solutions has completed the purchase of an electronic mortgage document library operation from Grand Rapids, Mich.-based Greatland Corp., the companies said. The document library contains more than 2,400 state and federal compliant lending forms. The employees will move to a new HFS facility in Grand Rapids...

  • CO-OP Network Offers Check Protection Service

    ONTARIO, Calif. - CO-OP Network, the nation's largest credit union owned surcharge free ATM Network, has begun to offer its member credit unions a way to handle check losses and minimize check loss risk, the cooperative has announced. The product, which the cooperative has dubbed Check Management Solutions, is a...

  • SBA Unveils Electronic Loan Application Program

    WASHINGTON-The Small Business Administration recently announced that it has developed a new loan application solution for participating lenders. The electronic application system, known as E-Tran, is aimed at saving credit unions and other SBA lenders substantial time and resources when sending a loan application to SBA. In response to requests,...

  • Latest Bug Causes Minimal Problems but Could Forebode Future Woes; CU Vendors Say CUs Must Be Diligent With Patches

    COLUMBIA, S.C. - The Sasser worm is racing across the Internet, slowing down systems and shutting some down automatically as it takes advantage of yet another vulnerability in Microsoft's XP and Windows 2000 operating systems. But it doesn't have to be that way. "As long as the end users properly...

Briefs

  • EasCorp Re-elects Three to Board

    BOSTON- EasCorp re-elected three directors at its 26th annual meeting held recently at the John F. Kennedy Library in Boston. Joe Bean, Charles (Chuck) Bowles and Paul Mayotte (who will serve as chairman) were all re-elected. Bean is CEO of Hingham Federal Credit Union, Hingham, Mass.; Bowles is president of...

  • CO-OP Network and WesCorp Reach Deal to Extend CO-OP Services to WesCorp's Hawaii and Guam CU Members

    ONTARIO, Calif. - Two big credit union players are hooking up to extend ATM access in Hawaii and Guam The CO-OP Network and WesCorp reached a deal that could potentially have 27 WesCorp member CUs in Hawaii and Guam joining CO-OP's ATM network. Rand N. Yamasaki, WesCorp's Senior Vice President...

  • Corporate Central Elects Board

    HALES CORNERS, Wis. - Three credit union CEOs were recently elected to Corporate Central Credit Union's Board. They were Kim Sponem, CUNA Credit Union; Gerald E. Tiedt, La-Tec Credit Union; and Thomas P. Young, Pioneer Credit Union, who will serve as the corporate's chairman. Other board members include Daniel Ige,...

  • Northwest Corporate Celebrates 26th; Elects Board

    PORTLAND, Ore. -Northwest Corporate Credit Union recently celebrated its 26th anniversary at its annual meeting held in late April. Among other business the corporate re-elected the following five board members to three-year terms at the meeting: * Bill Anderson, President/CEO, Mid Oregon FCU, Bend, Oregon * Howard Benson, President/CEO, Malheur...

  • WesCorp Makes Two Key Executive Changes

    SAN DIMAS, Calif. - The $24 billion WesCorp has made a couple of executive personnel moves. Freda Amir, who joined the corporate just last year as Marketing Manager, has been promoted to WesCorp's Director of Marketing. Amir came to WesCorp from Morgan Stanley where she served in marketing with the...

  • Holtz, Fleisher Among Big Name Speakers at WesCorp's Future

    LA JOLLA, Calif. - Legendary Notre Dame football coach Lou Holtz and former White House Press Secretary Ari Fleischer were among the featured speakers at WesCorp's recent 10th annual Future Forum held at the Hilton La Jolla Torrey Pines in La Jolla, California. Holtz proved true to his motivator reputation....

  • A Look at Some of the New Corporate Boards

    Empire Corporate Federal Credit Union Announces Board Appointments ALBANY, N.Y. - At its 27th Annual Meeting held recently, Empire shored up its 2004 board of directors. Re-elected were David F. Bartone President/CEO Emeritus, Corning FCU (NY); Michael J. Connery, Jr., President/CEO, United Nations FCU (NY); and John T. Fenton, President/CEO;...

  • Empire Corporate Re-Launches Term LOC

    ALBANY, N.Y. - The $5.2 billion Empire has re-launched its Term Line of Credit (LOC) facility, which can be used by credit unions as a long-term funding source for asset-liability management. According to Empire, the strength of the Term LOC is it provides immediate access to liquidity and offers long-term...

Letters to the editor

  • Welch's Column on Marketing a Disservice

    Mike Welch's March 24th column on the Marketing and Business Development Awards ("From Humble Beginnings Marketing Has Arrived.But") left me feeling that, although he was an award winner and a great champion of credit union marketing, Welch has actually done a great disservice to the marketing profession. The thought that...

Opinion

People

  • WEST

    Arrowhead Credit Union, San Bernardino, Calif., has named Sue Counts senior vice president/chief operating officer of its subsidiary Arrowhead Trust Incorporated. Nevada Federal Credit Union, Las Vegas, has named Amber Murray graphic designer. Air Academy Federal Credit Union, Colorado Springs, Colo., has promoted Branda Lackey to mortgage loan officer. Northwest...

  • SOUTH

    Keesler Federal Credit Union, Biloxi, Miss., has elected the following officers to its board: Don McCormick, chair; Tommy Adkins, vice chair; Cynthia Childers, treasurer; and James Doyle secretary. In additon, Gerald Calsdwell and Joe Vanhooser have been elected board directors. KFCU has also elected Earl Barlow supervisory committee chair and...

  • VENDORS

    Qsent, Inc., a contact data service provider, has named AJ Brown senior vice president of marketing. Irwin Mortgage Corporation, a mortgage loan provider, has appointed Paul McLean Virginia Educators Federal Credit Union mortgage loan officer and Terry Reiter Members Credit Union Hickory branch mortgage loan officer.

  • EAST

    Charter Oak Federal Credit Union, Groton, Conn., has promoted Patricia Lima to vice president/chief administration officer. United Teletech Federal Credit Union, Tinton Falls, N.J., has elected the following officers to its board: Ruth Ann Kluin, chair; Cesar Carrero 1st vice chair; Michael Hou 2nd vice chair; Frank Kudenchak treasurer; and...

  • SOUTHWEST

    Mobiloil Federal Credit Union, Beaumont, Texas, has elected the following officers to its board: Richard Hegele, chair; Paul Wheelington, 1st vice chair; Tony Lucenti, 2nd vice chair; and Floyd Price, secretary/treasurer. Scott McCauley has been elected supervisory committee chair. In addition, the credit union has elected the following supervisory committee...

Publisher's Column

  • Guess Who Else Has Discovered CUs? The IRS

    At one time, credit unions were a well-kept secret. Often they were tucked away in the back of a factory. They did no marketing and offered the plainest of plain vanilla services. All but a handful had a membership that numbered in the hundreds rather than thousands. Most had assets...

Looking Back

  • Credit Union Times Vol. 8, No. 20 May 14, 1997

    Looking back seven years finds credit unions scoring a victory in Colorado to defeat a bill that would have restricted access to credit unions by consumers here and limited field of membership expansion by state-chartered credit unions. HB-1338 was killed in the House Business Affairs and Labor Committee unanimously by...

Beyond the Job

  • Miniature in Size, but Big in Excitement

    LIBBY, Mont.- Kootenai Valley Federal Credit Union Manager Betty Willman's chariot awaits her after work hours.behind a 29-inch high horse. Most people just keep them as pets, Willman explained, but she said you can train the 29-inch high horses to pull you around in a cart. Some also show them,...

  • Ridin' and Ropin' is Relaxin' for this CEO

    ALVIN, Texas - As a youth, Gary Davis wanted a horse, but that wasn't feasible for an on-the-move military family. As an adult, the president/CEO of Chocolate Bayou Community Federal Credit Union saw that dream materialize. And today, Davis escapes the rigors of credit union work by saddling up his...

  • Segarra Encourages to Give the Gift that Keeps Giving

    HIGHTSTOWN, N.J.-New Jersey Credit Union League Special Events/Meeting Planner Yvette Segarra and her husband disapproved of their son's decision to be an organ donor, but did not think they would have to think about it. "If my husband and I hadn't seen it on my son's driver's license, we never...

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