Credit Union Times Magazine September-08, 2004

News

  • 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...

  • 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...

  • 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...

  • 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,...

  • 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...

  • 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...

  • 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...

  • 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.

  • 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...

  • 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...

  • 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...

  • 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...

  • 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...

  • 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.

In Other News

  • 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...

  • 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.

  • 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...

  • 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

  • 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...

  • 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...

  • 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...

  • 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...

  • 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

  • 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...

  • 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,...

  • 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

  • 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.,...

  • 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...

  • 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...

  • 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...

  • 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...

  • 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

  • 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...

  • 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

  • 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...

  • 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...

  • 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...

  • 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

Publisher's Column

  • 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

  • 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

  • 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...

  • 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.

  • 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...

  • 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,...

  • 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.

  • 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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