Credit Union Times Magazine September-08, 2004
News
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Data Warehousing Continues as Bull Market
CAMBRIDGE, Mass. - The adoption of data warehousing technologies is growing sharply, according to Forrester Research. The think firm's quarterly data warehousing survey found that more than two-thirds of the 170 participants in a major industry conference plan to increase spending on the technology at their organizations. Driving the spending...
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New England FCU Nets Benefits from Products and Peers in Tech Consortium
WILLISTON, Vt. - New England Federal Credit Union is benefiting in more ways than one from its participation in a credit union technology consortium, including deploying alerts and e-statement solutions springing from the consortium's sponsoring firm. Those two solutions are part of CUNotify, a package of notification software solutions aimed...
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eCU Technologies Has Had to Make its Own Success as Parent CU Says It's Not Going to Shoulder the Costs of the Tech CUSO
HARRISBURG, Pa. - It's no revelation that some CUSOs out there rely a lot on their credit union owner or owners for personnel, resources and in many cases business. The $2.2 Pennsylvania State Employees Credit Union wanted the leaders of its tech CUSO, eCU Technologies, to know right off the...
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Managed Security Spending Growing, Along with Attacks and Defenses
BOSTON - Driven by hack attacks and worse, and prompted along by regulations arising from Gramm-Leach-Bliley, Sarbanes-Oxley, HIPAA and more, the managed security services market is on a roll, going from $1.5 billion in 2002 to a projected $3.7 billion in 2008. The technologies behind the services also are growing,...
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Analyst Sees Check 21 Spending Lagging Industry-Wide
FRAMINGHAM, Mass. - As smaller financial institutions, credit unions often find themselves following the leaders when it comes to adopting the new ways of doing business. So, despite the hype, there may not be that much of a rush to begin trading check images when Check 21 takes effect on...
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New York CU Helps Secure the System with New Low-Price SIM
SHERRILL, N.Y. - Ask Mike Murrock why his credit union chose to deploy a leading-edge enterprise threat mitigation appliance, and he has a simple answer. "In a word, the NCUA," says the vice president of operations at $72 million ACCESS Federal Credit Union in upstate New York's Oneida County. "They...
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Insight Financial CU's New Online Mortgage Center a Hit With Members
ORLANDO, Fla. - If the first two weeks' level of activity on Insight Financial CU's new online mortgage center is any indication of members' approval of the new product, then the CU can consider it a success. Insight Financial CU has added an online mortgage origination center to its Web...
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Special Report: Data Processing & Technology
Credit unions aren't shy about adding innovative new products. Read about some of them and more technology news on pages 26-36.
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USERS Knows Hawaii; Core Processor Serves 25% of the Market
VALLEY FORGE, Pa. - For those who haven't been to Hawaii or know the culture, the word "ohana" may not mean much, but to those at USERS it's everything for doing business in Hawaii. Ohana means family in Hawaiian and USERS has learned it has to treat its Hawaiian CU...
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Second Half of 2004 Sees Plenty of Tech Spending
CAMBRIDGE, Mass. - Credit union managers who find themselves buying PCs and other major tech gear as the year wears on are hardly alone. A survey of 1,400 technology decision makers at North American and European enterprises found 80% plan to buy PCs and 72% will be buying servers in...
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F&A FCU Finds Promise in Single-Channel MRM Solution
MONTEREY PARK, Calif. - F&A Federal Credit Union doesn't normally like to go out on the "bleeding edge" of new technologies, but it decided that making the most of what its chief operating officer calls "our most under-utilized marketing channel" was worth it. That channel is Internet banking. The product...
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Hudson Valley FCU Expands LOC Bumps with Software Add-On
POUGHKEEPSIE, N.Y. - A new add-on to its core processing system is allowing Hudson Valley Federal Credit Union to expand for the first time in 16 years the number of products for which members can receive automatic line-of-credit (LOC) increases. The $1.8 billion CU is one of four of the...
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Upost@Home is Money in the "Credit Union"
HARRISBURG, Pa. - About two and a half years ago Pennsylvania State Employees CU sent potential fraud shockwaves through the industry when it announced that it was going to allow members to enter in deposits online via home banking before the credit union even had the check. The concept was...
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Who's Hurting Who?
Are credit unions really hurting small banks? Not if those banks are growing out of their category and becoming big banks. Page 22.
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Four-Hundred Delegates Registered for Congressional Caucus
WASHINGTON-With still nearly a month to go before its Congressional Caucus, NAFCU has already signed up around 400 delegates for the event. Typically, the Caucus draws a crowd of around 400-500 delegates, which does not include spouses or speakers, according to NAFCU Senior Legislative Representative Murray Chanow. At the extremes,...
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Federal Preemption, Check 21, Overdraft Protection Lead Agenda of State Financial Roundtable Meeting
ARLINGTON, Va. - Three timely issues - federal preemption, overdraft protection, and Check 21 - were the lead topics for discussion at a recent meeting of the State Financial Regulators Roundtable (SFRR) chaired by NASCUS Government Relations Committee Chairman George Latham, deputy commissioner of Financial Institutions for Virginia. Discussions concerning...
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Greed Most Common Reason for Insider Crimes in Financial Services
WASHINGTON - A new study of insider incidents at financial services providers by the Secret Service National Threat Assessment Center (NTAC) and the CERT Coordination Center of Carnegie Mellon University's Software Engineering Institute (CERT/CC) found that most insider criminal activity requires minimal technical know-how, is planned out, and is fostered...
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Illinois CU Merger Trend Triggers Fallout; Single Sponsor CUs Have Felt The Effects of Tough Economic Times
OTTAWA, Ill. - The demise of small Illinois credit unions - and its political and financial repercussions - emerged last week as a prime topic of CU discussion following comments about the industry's economic health by the state's new Director of the Division of Financial Institutions Michele Latz. "Some of...
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Banker, Card Manager Says CU's Foolish to Sell Card Portfolios; Offers To Match or Beat Offers
INDIANAPOLIS - David Becker, a banker and entrepreneur with a strong reputation among credit unions as the founder of data processing firm RDS and CU online banking firm VIFI, argues strongly that credit unions and smaller banks are foolish to sell their credit card portfolios. "Credit unions' biggest card managing...
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Credit Unions Swarm Republican National Convention
NEW YORK-Credit union representatives were scurrying from event to event early last week during the Republican National Convention, many of which credit union groups hosted, in order to raise the political profile of credit unions. CUNA and NAFCU each have most of their lobbying staff in New York City where...
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Credit Union Trades Contest Charges that CUs Part of Demise of Small Banks
By SARAH SNELL COOKE CU Times Washington Reporter WASHINGTON-CUNA and NAFCU came out in strong opposition to a Viewpoint piece that appeared in the Aug. 20 issue of the American Banker from two senior economists at the Dallas Fed who charged that credit unions were partly to blame for the...
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IRS Puts CU Deferred Comp Plans on Priority List; Guidance Could Change The Way Boards Compensate CEOs
WASHINGTON - Deferred compensation plans at federal credit unions have been officially put on the IRS priority list and guidance on how they're administered could come by next June. Given all that's gone on of late with executives and their retirement plans, or lack thereof, the IRS guidance could represent...
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CUNA Says NCUA's Recent Legal Opinion Changes MBL Proposal Landscape, Asks for Consideration in Final Rule
WASHINGTON - In light of a recent legal opinion on member business loans, CUNA is urging NCUA to roll those clarifications into a proposed rule that would offer "less restrictive" requirements for credit unions involved with SBA's 504 and 7(a) loan programs. The NCUA opinion states that loan maturity limits,...
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CUNA Council Forum Keeps Councils on Progressive Track
WASHINGTON - There is a changing of the guard at the CUNA Council Forum. During the 2004 Council Forum meeting here Patelco Credit Union SVP/CFO Scott Waite and BECU VP of Lending/Chief Lending Officer Joe Brancucci were elected forum chair and vice-chair respectively. Rivermark Community Credit Union VP of Financial...
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Fannie Mae Announces Arizona Initiative to Improve Housing Along State's Border Region
YUMA, Ariz. - Fannie Mae, in an effort to improve housing conditions and expand homeownership in Arizona's four border counties of Cochise, Pima, Santa Cruz, and Yuma, has announced an ambitious and comprehensive strategy to increase the supply of for-sale and rental housing, improve substandard housing conditions, and offer new...
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Pennsylvania CUs Looking at Allpoint as Major Penn Bank, PNC, Having Success Bringing CUs into its ATM Fold
ARLINGTON, Va. - The number of different approaches to the way credit unions can surcharge at their ATMs continues to grow. In Harrisburg, Pennsylvania, the board of the Pennsylvania Credit Union Association has asked staff to research the feasibility of it partnering with Allpoint, a nationwide ATM network which is...
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Kerry Campaign Puts Forward Card Reform Program; Is It Good Or Bad For CU Card Issuers?
DALY CITY, Calif. - The credit card reform proposal that Democratic presidential candidate John Kerry introduced on August 27 contains elements that credit unions fought in court two years ago, but the credit union associations appear keen to downplay the potential conflict. Speaking before a primarily middle class audience in...
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New Overtime Rules More a Housekeeping Issue than Concern for Credit Unions
WEST PALM BEACH, Fla. - As the deadline for the new overtime rules rang on August 23, there wasn't much reaction in credit union land. Despite the national hype about the controversial revisions, credit unions generally agreed that the impact is expected to be minimal. The Department of Labor has...
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Speakers to Join Senator Clinton for NY PALS Workshop Released
ALEXANDRIA, Va.-Eight speakers from the credit union community will join Senator Hillary Rodham Clinton (D-N.Y.) in addressing NCUA Board member Debbie Matz' Partnering and Leadership Successes workshop scheduled for Oct. 11 in Rochester, N.Y. "Serving the Underserved Without Losing Your Bottom Line" will be the topic of discussion for the...
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Seven Florida CUs Align to Form Member Business Lending CUSO, Aim to Tap Existing and New Relationships, Diversify Risks
ORLANDO - Seven Florida credit unions have partnered to form The Cypress Group, LLC, a member business lending support CUSO with the mission to have a competitive edge across the Sunshine State. The Cypress Group will provide such back-office functions as underwriting, documentation and portfolio maintenance support of member business...
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Reg Relief Gets Boost with Release of Crapo Matrix
WASHINGTON- Senator Mike Crapo (R-Idaho), who has been charged with writing financial services regulatory relief legislation on the Senate side, recently released a matrix of all the proposals he has received for the package. The move demonstrated at least some forward progress on the legislation, on which the House passed...
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New CMG Lending Solution Helps CUs Deflect Risk of Making Auto Loans to Credit-Challenged Members
MADISON, Wis. - How to make vehicle loans to credit-challenged members while protecting themselves against loss has been a dilemma for credit unions despite an interest among many of them to move into non-prime vehicle lending. CUNA Mutual Group has begun a "controlled" rollout of a default insurance program that...
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NAFCU Offers Tweaks to NCUA MBL Proposal for Streamlined SBA Requirements
ARLINGTON, Va. - NAFCU agrees with most of the provisions set forth within NCUA's member business loan proposal but has offered some changes. At issue is NCUA's proposed rule that would amend collateral and security requirements so that credit unions could make construction and development loans under "the safety and...
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Lack of Homebuying Information Key Barrier to Mexican-American Homeownerships, Study Asserts
LOS ANGELES - Record low mortgage rates over the last couple of years opened the door to homeownership for millions of Americans. Unfortunately a lack of trusted sources of information kept hundreds of thousands of Mexican-Americans from benefiting from the rate environment. That factor in fact remains a key barrier...
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Latest CU Mortgage Numbers Reflect Applications in Pipeline, Growing Flexibility of Mortgage Products
WASHINGTON - The latest numbers from Callahan & Associates on credit unions' real estate lending activity for the second quarter of the year show a continued strength for credit unions in the mortgage lending sector. That's the assessment of Callahan EVP Jay Johnson who noted that mortgage lending was the...
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New Idaho CU Branches Fill Bank Vaccum; Win Praise from Lawmakers Including Senate Banking Committee Member Crapo
BOISE, Idaho - Two small Idaho credit unions, the $29 million Les Bois FCU in Boise and the $38 million Potelco United CU of Pocatello, are winning the praises of lawmakers and civic leaders following the separate opening of two branches in communities abandoned by commercial banks. "It is heartening...
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Comments Sought on Financial Literacy Commission National Strategy
WASHINGTON-The Financial Literacy and Education Commission is seeking public comment on the development of a national strategy to promote financial literacy. NCUA Chairman JoAnn Johnson and several other regulators are members of the commission, which was created under Title V of the Fair and Accurate Credit Transactions Act of 2003....
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Utah League Lobbyist Urges RNC Delegates to Visit Ground Zero
NEW YORK - With two of the top lobbyists for the Utah League of Credit Unions as delegates to the Republican National Convention here, one of them, Spencer Stokes, of Salt Lake City who previously served as an officer of the Utah GOP, got himself quoted in the New York...
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Election Fair Part of National Hike the Hill Month
WASHINGTON-CUNA will hold an election fair on Sept. 22 as part of its National Hike the Hill Month Program. The trade association announced that the CUs Vote election fair will feature booths on CUNA's many political programs, such as Project Zip Code and Get Out the Vote efforts, and advise...
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Montana CUs' Efforts to Improve American Indian Well-Being Garners National Attention
HELENA, Mont. - Efforts by the Montana Association of Credit Unions to advance the economic well being of Native Americans in the state through the American Indian Homeownership Campaign has been recognized by the Neighborhood Reinvestment Corp. Using funding provided by MACU's First Account Program, along with Rural Development and...
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IRA Rollovers Could Fuel Growth of Managed Accounts
BOSTON - A wave of IRA rollovers over the next four years could spark a significant increase in separately managed accounts (SMAs). According to the Financial Research Corp.(FRC), by 2008 money rolled over into IRA accounts is expected to deliver more than $50 billion annually in SMA net flows. Through...
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American1 FCU Host New "Idol"
JACKSON, Mich. -American 1 Federal Credit Union is hoping it has a role in finding the next American Idol. To help raise funds and awareness for Junior Achievement of the Michigan Edge, the $176 million credit union not only sponsored the American 1 Grand Prix but hosted its first American...
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USAlliance FCU's Case Against CUMIS Carries On
RYE, N.Y. - USAlliance FCU hopes that a change of leadership at CUNA Mutual will be a positive thing for its lawsuit against CUMIS. USAlliance filed a claim with CUMIS against its indemnity bond policy to pay a loss it believes falls under the employee or director dishonesty and lack...
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CDCU Opens New Branch In Appalachia
MONTICELLO, Ky. - The $15 million Appalachian Federal Credit Union has opened a new branch which will serve low income residents of some of the poorest parts of the economically distressed Appalachian region. AFCU President, Marcus Bordelon explained, "the expansion will bring the credit union's financial and development services to...
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Record Low Net Interest Margin May Trigger CUs' Focus Toward Operations' Efficiencies
WASHINGTON - Continued downward pressure on the net interest margin combined with a rise in operating expenses highlights the need for credit unions to focus on efficiency gains within their organizations. Based on analysis of just-released midyear data, Callahan & Associates, Inc. found that the 14 basis point spread between...
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CUNA and NAFCU Comment Letters on NCUA Change of Officer Proposal at Odds
ALEXANDRIA, Va. - While NAFCU has come out in support of NCUA's proposal to clarify a 30-day waiting period for new officers to take their positions at new or troubled credit unions, CUNA has said it may have unintended consequences. Two provisions of NCUA's rules, 701.14(e) and (c), are inconsistent....
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CUES Exhibit Debuts at America's Credit Union Museum
MADISON, Wis.- CUES is the latest organization to add to the collection at America's Credit Union Museum. An exhibit showcasing the history of CUES and its part in the development of credit unions in the United States was recently unveiled. The CUES display includes a timeline and photos narrating CUES'...
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Kitsch Named Director of Special Projects for Filene Research Institute
MADISON, Wis. - Lois Kitsch, who has managed credit union development projects internationally for the World Council of Credit union, has been named director of special projects for the Filene Research Institute. Working at WOCCU, Kitsch organized and hosted international conferences, and presented to credit union audiences in Europe, Asia,...
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NAFCU Hangs Out with Royce at RNC
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Safekeeping, Custodial Services Exemptions Should be Granted to CUs, NAFCU Says
ARLINGTON, Va. - NAFCU is joining other trade associations and credit unions that have thrown their support behind the SEC's Regulation B proposal that would grant certain broker/dealer exemptions to credit unions. However, it takes issue with the SEC's decision not to extend safekeeping and custodial services exemptions to credit...
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NYSCUL Holds "High Visibility," "Marquis" RNC Event
NEW YORK-The New York State Credit Union League, in conjunction with CUNA, hosted a major event at Tavern on the Green in New York City for the state's representative in Congress and in the N.Y. legislature, as well as the convention delegates. Several members of Congress attended the event, including...
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Total Bankruptcies Decline Nearly 1%, But Filings Still Well Over a Million
WASHINGTON-The total number of bankruptcy filings fell slightly for the year ending June 30, 2004 for the first time since June 30, 2000. Bankruptcies for the 12-month period ending June 30 tallied 1,635,725, down 0.9% from a year ago when filings reached 1,650,279, according to the Administrative Office of the...
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CU Among Those Honored For Job Training Program
ST. LOUIS - For its work in supporting a vocational training program, Vantage Credit Union, along with six other financial institutions will be honored by the city's major and the Federal Reserve Bank of St. Louis on Sept. 9 The $457 million Vantage along with U.S. Bank, First Bank, Southwest...
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Trades Nominate AAFCU GC to Fed Consumer Advisory Council; NAFCU Adds Three Others
WASHINGTON-CUNA and NAFCU have nominated American Airlines Federal Credit Union Vice President and General Counsel Faith Anderson to serve on the Federal Reserve Board's Consumer Advisory Council. "Ms. Anderson is extremely knowledgeable about and articulate on consumer protection issues, and we believe she would make an outstanding contribution to the...
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Disabled Center Provides a New Home for CDCU
SEATTLE - Robert L. Coleman, Jr, CEO of the $5.3 million Northwest Baptist Federal Credit Union is quick to admit that he was among the first to complain about the noise and disruption caused by the construction next door to the credit union's old location. But little did he realize...
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CUNA 2003 Benefits Demonstrate Rocky Economy; NAFCU Holds Steady Course
WASHINGTON-The tough economy last year has shown itself in CUNA's senior officers' benefits. In a number of cases, CUNA had to up its contributions to the benefit plans because of the low interest rate environment, according to CUNA Vice President of Communications and Media Outreach Pat Keefe. Actually, the overall...
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California, Nevada CU, Leaders Make Their Presence Known at RNC
There was no shortage of events for California and Nevada credit union leaders attending the GOP Convention to participate in from receptions to bowling tournaments. Among those on the convention floor were Robert Rose (left), CEO, The CO-OP Network; Tony Mook, CEO, Cumorah CU, and Nevada League chairman; and his...
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A Group of CUNA Mutual Employees Looking to Create Separate Bargaining Unit File Petition with NLRB
MADISON, Wis. - Former CUNA Mutual Group President/CEO Mike Kitchen resigned after he disclosed that he offered money to a group of employees looking to create a separate bargaining unit - that group has made progress. The employees have officially filed their petition with the National Labor Relations Board. Whether...
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Special Pictorial: Credit Unions Show Their Colors at Republican National Convention
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Kerry Card Proposal In A Nutshell
Senator John Kerry's proposal on credit cards has the following key elements: Bar Massive Rate Hikes on Perfect Customers. The Kerry card proposal would ban the practice of hiking credit card rates because of a missed payment to other creditors. "A customer who put a $1,000 washer-dryer on a credit...
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March Community Credit Union Helps Troops Keep In Touch
MORENO VALLEY, Calif. - March Community Credit Union has helped troops stationed in Iraq stay connected to their loved ones. The $360 million credit union answered the 163rd California Air National Guard, Air Refueling Wing's call for help by donating $2,000 in phone cards. The extra phone cards were needed...
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Barzler Named President/CEO Point West CU
PORTLAND, Ore. - Robert Barzler, who has served as interim president and CEO of Point West CU, has been named president/CEO of the $91 million CU. Prior to serving in the interim position, Barzler was executive vice president and chief financial officer. In his new position, he succeeds Karen Johnson,...
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Special Pictorial: Credit Unions Show Their Colors at Republican National Convention
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In Other News
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DONATIONS
Pacific Service Credit Union, Fresno, Calif., has donated $5,000 to the Sheriff's Foundation for Public Safety for its youth camp program. The donation will enable low-income, at-risk children in grades 5-6 to attend one of three week-long camps at Lake Sequoia. Part of the Elementary School Safety Program (ESSP), Camp...
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NAME CHANGES
S&S Credit Union, Houston, Texas, has changed its name to Space City Credit Union. Spokane Postal Credit Union, Wash., has changed its name to Progressions Credit Union. Alabama National Guard Credit Union, Montgomery, Ala., has changed its name to Guardian Credit Union.
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SCHOLARSHIPS
Rhode Island Credit Union League, Warwick, has awarded People's Credit Union member Maria C. Monti a $500.00 scholarship. Monti was selected based on a variety of criteria including the academic performance, financial need, extracurricular activities and the quality and content of an essay that addressed her intended major field of...
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MILESTONES
First American Credit Union, Beloit, Wis., longtime 25 year member Wayne Hayelan has donated his 60-year-old, 48-star American flag to the credit union's Rockton branch to preserve and display a part of history. Hayelan received the flag as an award in 1945 while attending the Northwestern Military and Naval Academy...
News Briefs
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Secretary Snow to Keynote NCUA CU Forum
ALEXANDRIA, Va.- Treasury Secretary John Snow will headline NCUA Chairman JoAnn Johnson's Forum for Credit Unions in Lima, Ohio on Sept. 10. "I'm pleased that Treasury Secretary Snow will be joining House Financial Services Committee Chairman Michael G. Oxley and me to discuss several important initiatives that impact Ohio credit...
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New Mexico Credit Union League Now the Credit Union Association of New Mexico
ALBUQUERQUE, N.M. - The New Mexico Credit Union League has officially joined the growing ranks of credit union leagues that have changed their name to be called an association, citing the confusion caused by the word "league." The name change to the Credit Union Association of New Mexico was effective...
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MaPS CU Adds Established Insurance Agency to its Family
WOODBURN, Ore. - Add Marion and Polk Schools Credit Union to the growing list of credit unions expanding their insurance offerings. The $237 million credit union's subsidiary company MaPS Insurance Services, LLC has recently purchased Scarborough Insurance, Inc. Established in 1952, Scarborough Insurance is an independent agency offering property and...
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Florida League Makes Over $71,000 in Donations To Charley Victims
TALLAHASEE, Fla. - The Florida Credit Union League has distributed more than $71,000 to the victims of Hurricane Charley, $22,000 of which was distributed in $500 grants with an additional 31 such grants in the pipeline. According to Mark Ivester, vice president of communications for the League, the fund the...
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CU Branch Manager Gets Four Years for Embezzlement
SYRACUSE, N.Y.-A former credit union branch manager was sentenced to nearly four years in prison last week after admitting to embezzling over $1 million from her employer. According to a report on Newsday.com, Sharon Ann Smith was sentenced to 46 months in prison for the embezzlement scheme at Rome Federal...
Marketing
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CoastHills FCU CEO Part of National Civic Education Video
LOMPOC, Calif. - CoastHills Federal Credit Union CEO Jeff York is doing his part to increase voter participation. York has recently recorded a segment for upcoming educational film, The U.S. Congress and You, The video will also feature Congresswoman Lois Capps and veteran CBS News reporter Bob Schieffer. Produced by...
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Past 27 Years an Exciting Journey for The Golden 1 SVP Marketing Dave Thompson
SACRAMENTO, Calif. -The Golden 1 Credit Union Senior Vice President of Marketing Dave Thompson is a self-described true "renaissance man" of marketing. "At 18 I fell in love with the work," said Thompson. "I never considered doing anything else because with marketing I had it all - creativity, innovative ideas,...
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Montana FCU Provides Home for Traveling Art Exhibit
GREAT FALLS, Mont. - In what could be a credit union first, Montana Federal Credit Union has sparked an arts movement here. According to Montana FCU President/CEO Wally Berry, playing host to an art exhibit was a matter of luck and timing. A member who represented various local artists approached...
Tech Bytes
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OSI, Fiserv and Metavante Show Acquisitions are Still Hot
WEST PALM BEACH, Fla. - Acquisitions in the technology space show no signs of slowing down. Three technology firms that have a presence in the credit union market have made acquisitions. Core processor Open Solutions, Inc. continues what has been a flurry of acquisitions. OSI has purchased Datawest Solutions, Inc.,...
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As Channels Mature, Contact Centers Still a Key Service Point
FRAMINGHAM, Mass. - Seeking to serve members better at lower cost, credit unions may be tempted to overlook the contact center while emphasizing Web-based services. Still, if every channel is to yield maximum return on investment, the contact center - sometimes expected to be a "branch without cash" - deserves...
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TWS Systems Focuses on Efficiencies, Fraud and Check 21 at Annual Confab
CLEARWATER, Fla. - Operational efficiency, anti-fraud and Check 21 strategies highlighted the agenda for TWS Systems Inc.'s 14th annual client conference recently at Hilton Clearwater Beach Resort. More than 120 executives and managers from the transaction processing and ATM solutions provider attended, including William Gibbs, records supervisor at Newport News...
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Fiserv Unit Wants to Help CUs Keep Card Portfolios
LAKE MARY, Fla. -Fiserv Credit Processing Services said it is stepping up to help credit unions better manage their plastic card operations. It has released an expanded version of its PLUS System that it says can address the increasing demand for processing services as credit unions refocus on their credit...
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Wescom Tech CUSO Adds Two More CUs
PASADENA, Calif. - Wescom Resources said that Wright-Patt Credit Union and Baxter Credit Union have selected its CU Integrator Software Development Kit, which aids in integrating with Symitar's Episys system. Wescom Resources Group uses what it learned from the $2.7 billion Wescom CU in terms of integrating with the Symitar...
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Three CUs Set Sail with Teres
AUSTIN, Texas - Three more credit unions have signed up to use the SAIL Indirect lending solution from Teres Solutions. That brings to 20 the number of credit unions on the platform, the company says. They are $306 million IBM Texas Employees FCU and $333 million United Heritage CU, both...
Special Report
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Financial Plus FCU Branch Entices Members In
FLINT, Mich. - Financial Plus Federal Credit Union's latest branch here has created quite a buzz. Designed by Cincinnati-based design/build firm DEI Inc., the branch, which is being touted as the first high-tech, high-touch full-service branch in the region, serves as a focal point of a busy intersection, with its...
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Co-branded DPS CU Branches a Community Stand Out
DENVER - For DPS Credit Union branches are more than a member convenience. For over a year the $540 million credit union has been co-branding its facilities with the surrounding community in an effort to better connect with members. "We recently expanded to serve other well defined geographic areas. As...
Letters to the editor
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Credit Union Times House Ad is Great
The Credit Union Times house ad that shows the gentlemen standing in front of his Peterbilt reading an issue of the publication is outstanding! What a great reflection on just how grassroots the credit union industry really is compared to other financial services providers. This gentleman obviously cares about the...
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Don't Condemn Overdraft Protection Without Cause
I just had to respond to the article in the Aug. 18 issue titled "Consumer Groups Urge Fed to Put APRs on Overdraft Protection Programs; CUNA Says APR Would Hinder CUs From Offering Overdraft." For one thing, credit unions should decide what is in the best interest of their credit...
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State Regulators Don't File 990s for FCUs
Recognizing the differences between state-chartered and federally chartered credit unions remains important in acknowledging our credit union dual chartering system. In an effort to be sure that Credit Union Times is as accurate as possible, I offer the following note of clarification: I can state with assurance, state regulators have...
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All Leagues Doing What's Necessary to Get CURIA Passed
We appreciate Mike Welch's recognition of the role that California and Nevada credit unions play in political advocacy, including securing support for CURIA, the Credit Union Regulatory Improvements Act ("All States Need to Garner Congressional Support," Aug. 4). We're proud of the work our advocacy team, and credit union leaders...
Opinion
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The Anatomy of a Tech CUSO: When Two Large CUs Decide it's Time to Collaborate
While the concept of collaboration within the credit union movement has been discussed for many years, technology CUSOs are a relatively new breed. More and more of these CUSOs are forming as a way to help more CUs get the most out of a particular core system. Here's a look...
Publisher's Column
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Deciding What a CU CEO Should Be Paid Not Easy
Alot of important points get overlooked when people start talking about other people's compensation. Very quickly discussions get around to comparisons with a person's own paycheck. "Why should he (or she) make so much more than me?" Nor does it take long for those in such conversations to talk as...
Publisher's Notebook
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Full Color
It may never have occurred to readers, but Credit Union Times is a full-color publication throughout its growing number of pages and has been for years. Even our popular "People Section" in the back of the book each week features only color mug shots of those readers who have been...
People
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WEST
Wauna Federal Credit Union, Clatskanie, Ore., has promoted Brandi Page to Vernonia branch manager. Technology Credit Union, San Jose, Calif., has named Brent Duncan vice president marketing and LeeAnne Giblin to vice president human resources. Community One Federal Credit Union, Las Vegas, Vice-President of Corporate Communications Sidra Kain has recently...
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EAST
Steel Works Community Federal Credit Union, Weirton, W.Va., has promoted Stanley S. Czahoroski to vice president of finance. In addition, SWCFCU has named John C. Peterman controller.
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VENDORS
McGladrey & Pullen, LLP/RSM McGladrey, Inc, an auditing and consulting firm of the credit union industry, has promoted the following employees: Rachel Karsjens and Dan Hein to senior associate; Joy Shealer to supervisor; Elizabeth Sobiech, Tracey Itoman and Jennifer Lee to manager; Dustin Luton to partner; Trung Nguyen and Chris...
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MIDWEST
National Youth Involvement Board, Madison, Wis., has elected the following officers: Vantage CU Community Education Specialist Rachel Parrent, chair; Kitsap Community CU Marketing Specialist Cathy Brorson, vice-chair; Digital Federal CU Education Specialist Diana Wheeler; Space Age FCU Accounting Manager John Faries, treasurer; and South Carolina CUL Communications/PR Director Brandon Pugh,...
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SOUTHWEST
San Antonio City Employees Federal Credit Union, Texas, has named Hector Contreras call center manager; W. E. "Skip" Loudermilk vice president of sales/lending; and Louis Marin, director of project management. In addition, San Antonio CEFCU has promoted Sonya Herrada to vice president of service/branch operations.
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SOUTH
Central Florida Postal Credit Union, Orlando, has appointed Fredrick Andersson marketing director; Jay Saylors credit counselor; and Maria O'Shea executive assistant/HR director. Alabama Credit Union League, Birmingham, has appointed Ann Frasier credit union development specialist. Memphis Area Teachers' Credit Union, Tenn., has named Jodie Edwards Covington branch director and Janice...
In Memoriam
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Jerry Anchors, Founding Father of DCUC, Former President NCUMA, Killed in Car Accident
ATLANTA - Credit union industry veteran Jerry Anchors, 73, was killed tragically with his wife, Barbara Ann, in an auto accident on Aug. 27. Anchors began his professional career at the Alabama Credit Union League and rose through the ranks to manage credit unions in Alabama, Florida, and Georgia. In...
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