Credit Union Times Magazine April-06, 2005

  • Consumer Reports: Check Out CUs' Auto Loan Rates

    WEST PALM BEACH, Fla. - Credit unions have known for a long time just how competitive their auto loan rates are compared to other lenders. A recent article in Consumer Reports helped spread that news. The Consumer Reports March 22nd article on auto financing options encouraged consumers to do the...

  • Automakers' 0% Financing Deals a Thing of the Past?

    WEST PALM BEACH, Fla. - Those 0% financing offers from automakers that credit unions argued were misleading to consumers, are all but over. An article in the March 23rd edition of USA Today said the 0% offers are harder to find and usually cover only shorter-term loans. The 0% loans,...

  • Becker: Ensure Parity in Deposit Insurance Reform

    WASHINGTON- NAFCU President and CEO Fred Becker wrote a letter to House Financial Institutions and Consumer Credit Subcommittee chairman prior to his subcommittee's hearing on deposit insurance reform legislation supporting separate but equal treatment for credit unions. In his letter to Congressman Spencer Bachus (R-Ala.), Becker noted that the Federal...

  • Altura Credit Union Picketed by California Activist Group Over ID Policy; Protest Reported on CNN

    RIVERSIDE, Calif. - What started as local coverage of a new branch opening at Altura CU last week snowballed into an illegal immigration protest covered by CNN. Altura Credit Union (formerly known as Riverside County's CU), which serves Riverside and San Diego counties in California, as well as select communities...

  • Bankers Attack CU Tax Exemption to President's Advisory Panel, CUNA Defends

    WASHINGTON-Responding to attacks by the American Bankers Association and America's Community Bankers, CUNA has filed a response with the President's Advisory Panel on Federal Tax Reform. CUNA's written remarks stated that the credit union tax exemption is "sound public policy and urges the Advisory Panel to reaffirm this conclusion." Expanding...

  • Credit Union Trades Take Advantage of Reg Z Review; CUNA Unleashes 20 Years Worth of Recommendations

    WASHINGTON-CUNA and NAFCU are taking advantage of the opportunity to comment on the biggest overhaul of Regulation Z (Truth-in-Lending) in the last 20 years. CUNA went to the extent of putting together a working group, worked with CUNA's Consumer Protection Subcommittee and a number of state leagues, and filed a...

  • Credit Unions Battle Predatory Lending on the Front Lines

    ST. LOUIS-Last week, credit union representatives explained at a congressional roundtable how credit unions are helping fight the battle against predatory lenders. House Small Business Rural Enterprises, Agriculture, and Technology Subcommittee Chairman Sam Graves (R-Mo.), who called the roundtable during the Congress' spring recess, has introduced the Servicemembers Anti-Predatory Lending...

  • Community CU Q&A: What the CU is Telling Members

    Credit Union Times Correspondent Jana Fowler is a member of Community Credit Union. After receiving charter disclosures in the mail, she called the hotline listed for members with questions. The call was answered first ring by an individual who identified herself as Sherri. Fowler found her very friendly and seemed...

  • What is a matricula?

    The matricula is an identification card issued by the Mexican government for Mexican citizens living abroad. The card is used to establish identity and citizenship, primarily to access consular services in foreign countries. Mexico started the matricula program more than a century ago, but the document gained popularity after the...

  • First Service CU, Houston Association of Realtors CU Complete Merger

    HOUSTON - First Service CU Chairman David Irtz accepts the keys to the Houston Association of Realtors CU branch from James Smith, chairman of the CU. The two CUs have completed their merger. The new First Service CU now has $175 million in assets and 10 branches in the greater...

  • CU Trend into Underserved Areas Continues

    ALEXANDRIA, Va.- NCUA's Insurance Report of Activity for February showed that credit unions continue to expand into underserved communities across America. Southeast Financial Federal Credit Union in Nashville, Tenn. expanded into four underserved counties in the state, adding nearly one million potential members last month, according to NCUA's data. Additionally,...

  • Credit Unions Sponsor D.C. Cherry Blossom 10 Miler for CMN Again

    WASHINGTON-Credit union representatives were scheduled for March 31 to work on crafts with the young patients at Children's National Medical Center in Washington, D.C. and present the hospital with a check from proceeds raised through credit union sponsorship of the Credit Union Cherry Blossom 10-Mile Run. The Credit Union Miracle...

  • Utah CU Antagonist Simmons in North Carolina Speech

    GREENSBORO, N.C. - Utah's credit union nemesis, Harris H. Simmons, apparently is revving up for his fall ascendancy into the top elected job at the American Bankers Association with a speech here March 22 to a meeting of the North Carolina Bankers Association. The title of the talk by the...

  • Credit Union 24 Network Adds 10,000 ATMs

    TALLAHASSEE, Fla. - Credit Union 24 member credit unions will now be able to offer their members access to their funds through 75,000 machines nationwide. The credit union owned ATM network announced a partnership with ATM Express which adds 10,000 machines to the network's total. "Credit Union 24 is very...

  • Texas Credit Union Foundation Awards $5,000 Grant to Mexican Credit Union

    FARMERS BRANCH, Texas - A recent decision by the Texas Credit Union Foundation (TCUF) Board of Directors means that Mexico's largest credit union, Caja Popular Mexicana (CPM), will be able to send someone from its organization to the Southwest CUNA Management School (SCMS). The Foundation board has approved a grant...

  • Spring Cleaning Key to Financial Well-Being, Crapo Says; Bankruptcy Reform Around the Corner

    WASHINGTON-Spring is the opportune time to clean financial house as well as the tangible one, Senator Mike Crapo (R-Idaho) stated recently. Given that April is National Financial Literacy Month, it is a fitting time to get finances in order he said in a recent column submitted to several Idaho-based organizations....

  • Nearly 700 Non-Sub S Banks Avoid Paying Taxes or Get a Return

    WASHINGTON-Bankers' complaints about the credit union tax exemption have ranged from an "unlevel playing field" to calling them downright unpatriotic. Yet, Federal Deposit Insurance Corporation data compiled by NAFCU showed that in addition to the more than 2,000 Subchapter S banks that do not pay income taxes, another 692 for...

  • Glaring Errors and Omissions Highlight ICBA-Backed CU Tax Study, CUNA Says

    CUNA Says No Evidence of Credit Union Tax Exemption Causing Inequities in the Market Exists. WASHINGTON-CUNA's Economics and Statistics Department has released a formal response to an Independent Community Bankers of America-backed study that CUNA calls a `baseless' and irresponsible attempt to disparage credit unions. "As alternatives to for-profit banks,...

  • Terror-Victim Allegiance CU Makes April 19 Memorial Plans; Pain is Still There, But CU Has Shown its Strength Through Growth

    OKLAHOMA CITY - The memories for staffers at Allegiance Credit Union, the old Federal Employees CU, are still painful 10 years after the April 19 bomb blast at the Murrah Federal Building, but Allegiance management now prides itself on its leadership role for the series of city events at the...

  • Virginia League Creates Marketing Council; Flow of Ideas Begins

    LYNCHBURG, Va. - A drive by Virginia credit unions to enhance marketing expertise has helped foster creation of a new Marketing Council for the Virginia Credit Union League, and one of its first events was a workshop on youth marketing held last month in Charlottesville. "We had a nice turnout...

  • NCUA's Information, And More

    Community is the first credit union to seek to change its charter to a mutual bank under NCUA's revised and toughened disclosure regulations. The agency designed the new rules to make sure that credit union members facing a charter change have the information they need to make their decision, and...

  • New CU Car Loans Program Helps Declined Auto Loan Applicants

    SAN ANGELO, Texas - About 50% of the auto loan applications that come through 1st Community Credit Union's indirect lending program are denied. Probably 20% of the credit union's "direct" auto loans get a thumbs-down. As far as the credit union is concerned, those percentages are too high, because denials...

  • Milwaukee Church Opens First New Wisconsin Credit Union In 12 Years; Gets Help From Banker and Banks

    MILWAUKEE - A church on the fringes of North Milwaukee will become the sponsor of the first new Wisconsin credit union in 12 years when the credit union opens its doors on April 3rd. The pastor and members of Christ the King Church had long seen the need for a...

  • In Wake of Fed's Louisville Closing, Mid-States Picks up Kentucky CU Item Processing Business

    NAPERVILLE, Ill. - Even though competition has intensified in recent years, corporate credit unions still very much cooperate. Take $5 billion Mid-States Corporate and $450 million Kentucky Corporate for example. The two just announced that Mid-States will provide item processing services for Kentucky Corporate members. The partnership evolved from the...

  • Matricula Consular Card Debate May Just Be Starting

    ARLINGTON, Va. - The question of whether credit unions and banks can accept the Matricula Consular card as identification for new members to open news accounts appears to remain significantly less settled than supporters would have wished. The Mexican Government issues Matricula Consular cards for Mexican nationals who are living...

  • Payday Loan Serves SoCal Postal CU Member Needs While Providing Financial Education Opportunities

    LONG BEACH, Calif. - Southern California Postal Credit Union is using a payday loan product as an opportunity to build financial security for members, despite the service's traditionally negative reputation. The $65 million, 4,000-member CU realized a need for this type of service when branch staff reported members were regularly...

  • Simkins Gets Ready for Another Move, But this Time it's for Retirement

    STATESBORO, Ga. - Paul Simkins is getting ready to move again - his 27th move since he got out of the Air Force in 1965 - except this time it's not for professional reasons. The 64-year old president/CEO of CORE CU and founder and charter vice president of Credit Union...

  • Smith Out as Director Missouri Division of Credit Unions; Missouri State Credit Union President Likely Successor

    JEFFERSON CITY, Mo. - John Smith, a political appointee to the position of director of the Missouri Credit Union Division, has become the victim of a change in administration in the governor's office. Smith, 67, who was appointed to the position in 1999, will serve until April 1. The name...

  • Senators Urge SEC to Start from Scratch with a New Broker-Dealer Exemption Proposal

    WASHINGTON - Several prominent Senators are miffed that the SEC, they claim, is not working closely enough with bank regulatory agencies on a proposal that would extend a number of broker-dealer exemptions to banks and credit unions. In a March 4 letter to SEC Chairman William Donaldson, 14 legislators called...

  • Ryerson Breaks Ground With `New Ground'; Dedicated to Breaking the Cycle of Homelessness

    HEMPSTEAD, N.Y.-As vice president of financial services for United Nations Federal Credit Union, Stephen Ryerson understands the workings of nonprofit financial institutions. However, starting in the early 1990s, it was Ryerson's involvement with New Ground Inc.-an organization that seeks to break the cycle of homelessness by providing long-term housing and...

  • Survey: Online Services Attract Best Members

    PALM SPRINGS, Calif. - Members of credit unions who use their financial institution's online banking services are more profitable, maintain higher loan and deposit balances, cost less to serve and are more responsive to marketing, according to a new survey. The survey of 1,500 credit unions conducted for CUNA Mutual...

  • ID Theft Seminar on Tap for CUNA Security & Fraud Institute

    MADISON, Wis. - A seminar addressing identity theft - the most common complaint filed with the Federal Trade Commission - is now part of CUNA's list of on-site offerings for April 2005. Security & Fraud Institute attendees may register for the optional Identity Fraud Seminar on April 24 in Savannah,...

  • Tampa Bay Federal, FSES FCU Merge

    TAMPA, Fla. - FSES Federal Credit Union and Tampa Bay Federal Credit Union have merged. With this move the $238 million Tampa Bay Federal acquires 275 new members and some $742,000 in assets. "We are pleased that the members of FSES FCU selected Tampa Bay Federal to provide ongoing credit...

  • WSECU Passes $1 billion Mark in Mortgages Serviced

    OLYMPIA, Wash. - About 30 years after it began offering and servicing mortgage loans, Washington State Employees CU has passed $1 billion in first mortgages services. WSECU, with more than $1 billion in assets and over 128,000 members, has more than 8,800 first mortgages currently on its books. The CU...

  • Agriculture Loans Critical to Many Credit Unions in Farm States

    MADISON, Wis. - For credit unions situated in states that rely heavily on farmers, agriculture loans have been a boon. According to a CUNA Home & Family Finance Resource Center article, credit unions in Indiana, Minnesota, and North Dakota have the highest visibility in agriculture credit. Between 1996 and 2001,...

  • Community Credit Union Discloses Charter Change Details; CU Leadership Mum on Impact

    PLANO, Texas - The $1.4 million Community Credit Union has sent its disclosure information on the pending charter change to its members, revealing that the credit union expects to pay almost $1.3 million to make the change and that it will employ a raffle to help drive member voting. In...

  • Credit Unions May Continue to Tread Slowly in Wake of Fed's Latest Increase

    WASHINGTON - While the Federal Reserve's latest increase saw the federal funds rate go up to 2.75%, credit unions aren't likely to raise deposit rates each time the Fed bumps up rates. According to Callahan & Associates, Inc., the rates that credit unions pay on their money market accounts certainly...

  • Coastal FCU SVP/Strategic Business Officer Honored

    RALEIGH, N.C. - Coastal Federal Credit Union Senior Vice President and Strategic Business Officer Chuck Purvis has been named the recipient of the Credit Union Development Education 2005 Volunteer Award for Fundraising and is the latest inductee to Campus Credit Union Council's (CCUC) Hall of Honor. Purvis received the Volunteer...

  • NCEE Report Finds More Work Needed on Financial Literacy Efforts

    WASHINGTON - While there has been progress on the financial literacy front, a recent National Council on Economic Education (NCEE) report finds that it has been limited. According to the report, 15 states now require students to take an economics course in high school and 26 states require testing on...

  • Just Two Seats Available for Five Candidates on NAFCU Board

    ARLINGTON, Va.-Five candidates are seeking the two available at-large seats on the NAFCU Board. Nationwide FCU President and CEO Ohio Paula Edwards, (incumbent), Campus FCU President and CEO John Milazzo (incumbent), Pentagon FCU Vice Chair Robert Scott, Webster First FCU President and CEO Michael Lussier, and State Department FCU Chair...

  • Coastal FCU Gets Green Light to Serve Sanford, N.C.

    SANFORD, N.C.-Coastal Federal Credit Union will now be permitted to serve over 15,000 people in Sanford, N.C. NCUA approved Coastal FCU to provide services to anyone who lives, works, worships, or attends school in underserved portions of Sanford and Lee Counties. The designated area is comprised of three census tracts...

  • AEDC FCU Names Scholarship in Honor of Former, Longtime CEO

    TULLAHOMA, Tenn. - In honor of her nearly 50 years of service to AEDC Federal Credit Union, a scholarship has been named in former President/CEO Jimmie Bearden's name. Bearden retired in January 2004 after serving 36 years at the helm. She started her career at the $960 million CU in...

  • CU Direct Auto Lending Symposium Features Wall Street Analyst and NADA Finance Chair

    RANCHO CUCAMONGA, Calif. - CU Direct's upcoming 7th Annual Auto Lending Symposium will feature well-known faces among professionals in the auto lending market - Wall Street veteran analyst Maryann Keller and Chair of NADA's Finance Issues Committee W. Carroll Smith. Keller is one of Wall Street's top three auto analysts....

  • SECU of N.C. Ends Origination Fee for First Time Homebuyer Mortgage

    RALEIGH, N.C. - In a move designed to further enhance its mortgage lending program and to make it easier for members to become homeowners, State Employees CU has eliminated the origination fee for its First Time Homebuyer Mortgage program. SECU's First Time Homebuyer Mortgage is a 100% financing option offered...

  • First Financial FCU Donates $75,000 to Child Health Care Services

    LUTHERVILLE, Md. - First Financial Federal Credit Union has recently donated over $75,000 to Baltimore and Carroll County Public School systems for child health care services. The donation will help students who are underinsured or have no health insurance, pay for doctor's appointments, dental problems, medication and transportation to and...

  • Three Banned from Financial Institution Operations

    ALEXANDRIA, Va.-Prohibition orders came out of NCUA recently barring three individuals from the operations of federally insured institutions. Jason Christopher Nunez, a former employee with Credit Union of Southern California, pled "no contest" to one count of grand theft and was sentenced, by the Criminal Court of Los Angeles County,...

  • Gov. Sebelius Signs Kansas CU Parity Bill into Law

    WICHITA, Kan. - Kansas Gov. Kathleen Sebelius signed a bill into law March 28 that gives state-chartered credit unions parity with out-of-state CUs. The measure - H.B. 2099 - also allows the Administrator of the Kansas Department of Credit Unions to authorize full parity to any federally-insured CU. H.B. 2099,...

  • Nassau Educators Hits Member Milestone

    WESTBURY, N.Y. - Nassau Educators Federal Credit Union has topped the 100,000th member milestone. Positioning its niche as providing a more personalized banking experience, the over $900 million credit union is gearing up to open two new branches this year. "It's always been about service," said Nassau Educators President/CEO Ed...

  • Allpoint Benefits in Cardtronics Purchase

    HOUSTON - Allpoint, the national ATM network which offers credit unions ATM access fee-free to their members, has picked up hundreds of new ATMs in the New York area thanks to a purchase by its ATM partner Cardtronics. The Houston-based Cardtronics, the ATM deployer whose machines Allpoint uses, announced the...

  • Hearing on OFHEO/Fannie Mae Agreement on for April 6

    WASHINGTON - The Subcommittee on Capital Market, Insurance and Government Sponsored Enterprises will meet April 6 to review the Office of Federal Housing Enterprise Oversight's (OFHEO) supplemental agreement with Fannie Mae's Board announced March 8. The April 6 hearing is entitled "Additional Accounting and Management Failures at Fannie Mae: OFHEO's...

  • Bankers Systems and NSC Now Target Fraud

    ST. CLOUD, Minn. - Bankers System and NAFCU Services Corporation have added to their existing preferred partner relationship. Bankers System was already recognized as an NSC Preferred Partner for member business lending and deposit solutions. Now Bankers Systems' Atchley Systems anti-money laundering systems are also part of the NSC deal....

  • Pantano is NJCUL's Youngest Chairman

    HIGHTSTOWN, N.J. - Rina Pantano, CEO of NJ Gateway FCU has become the youngest person to be elected Chairman of the New Jersey Credit Union League. She is 36. Pantano is also only the second woman elected to head the League's Board. She succeeds outgoing Chairman John DiNofiro, treasurer, FAA...

  • State-chartered CUs Continue to Thrive, FCUs Also Healthy

    ARLINGTON, Va. - The Massachusetts Credit Union Share Insurance Corp. recently released its latest comparative credit union quarterly data on state- and federally-chartered credit unions and the findings show continued "healthy statistics." The fourth quarter 2004 data indicates state-chartered CUs' growth in key areas was consistent with that of federal...

  • Naval Mid-Atlantic FCU Adopts Large Underserved Area

    VIRGINIA BEACH, Va.-NCUA recently approved the $34 million Naval Mid-Atlantic Federal Credit Union's adoption of the underserved areas of Norfolk and Virginia Beach. "We are looking forward to introducing residents of Norfolk and Virginia Beach to the reliable, family-oriented financial services we have offered our military core members for the...

  • WOCCU Brings Legislative Staffers for First-Hand Look at Mexican Projects

    WASHINGTON-The World Council of Credit Unions, along with three state leagues, brought a handful of congressional staffers down to Mexico last week to visit three credit union development projects. The California and Texas leagues are partnered with Caja Popular Mexicana, the country's largest credit union. It has 326 branches throughout...

  • COWWW Software's Strong CU Biz Causes Move

    BELMONT, Mich. - COWWW Software, a provider of Web-based archiving, retrieval, and document distribution solutions for credit unions, is experiencing some growing pains. The vendor has moved its corporate headquarters 10 miles south from Sparta, Mich, to Belmont, Mich. The new offices, according to COWW, have an enhanced office layout...

  • City Hopes Gardner Franco-American FCU Will Help Woo Businesses

    ASHBURNHAM, Mass. - In an attempt to woo small businesses to the area here, city officials are hoping Gardner Franco-American FCU will be among the catalysts. The invitation to the $209 million credit union is a part of a project by the Focus Committee here to get businesses to set...

In Other News

  • DONATIONS

    Houston Texas Fire Fighters Federal Credit Union, staffers and members have raised a total of $11,000 for the Houston Fire Fighters Burned and Crippled Children's Fund. Funds were raised by conducting car washes, bake sales, and luncheons throughout the year. In addition, HTFFFCU has named Emma Washington the 2004 Employee...

  • MILESTONES

    E&A Credit Union, Port Huron, Mich., has recently celebrated its 70th anniversary. From its early start in Blanche Smith's kitchen, the credit union now has over $150 million in assets and serves some 32,000 members. Anniversary specials and 1935 trivia contests willrun throughout the year. In addition, E & A...

News

  • Rohden Shoots From the Hip

    Space City CU CEO Craig Rohden is fired up about how the CU-to-Bank conversion situation in Texas is being handled. Page 16.

  • Regarding HSAs, CUs Encouraged to "Just Do It"; Timing is Right Say Those Who've Done It

    WEST PALM BEACH, Fla. - While many are still contemplating whether to add Health Savings Accounts to their employee benefits options, opportunity is knocking when it comes to offering Health Savings Accounts (HSAs) to members. HSAs are tax-free savings accounts that can be used to pay for medical expenses including...

  • Dover Federal CU Unveils Leadership Development Program

    DOVER AFB, Del. - Dedicated to ensuring a well-trained and dedicated staff, Dover Federal Credit Union has launched a Leadership Development Program. Designed to help staffers improve their skills and prepare to lead members to continued financial success, the program is headed by a task force of volunteer managers. Inaugural...

  • SACU Named Patriotic Employer by National Committee

    SAN ANTONIO- San Antonio Federal Credit Union (SACU) has been recognized as a Patriotic Employer by the National Committee for Employer Support of the National Guard and Reserve, for its corporate policies that contribute to national security and help protect liberty and freedom. "SACU is a strong supporter of our...

  • Rogue FCU Honors Staffers

    MEDFORD, Ore. - Rogue Federal Credit Union (RFCU) employees were the stars of a recent awards banquet. RFCU has honored four employees with special service awards including Rookie of the Year to Member Service Representative Misty Morse for her overall contribution; Internal Service award to Accountant Anita Tuckerfor her outstanding...

  • North Island CU Honored for Workplace Excellence

    CHULA VISTA, Calif. - For the fourth time, North Island Credit Union has been awarded the 2004 Peter Barron Stark & Associates Award for Workplace Excellence. The Workplace Excellence Award is presented based on the results of a 100-question employee opinion survey distributed throughout the company. The survey measures employees'...

  • CUNA Council Announces HR/TD Summit

    MADISON, Wis. - The 11th annual CUNA HR/Training and Development Council Summit is set to launch April 10-13 in Indian Wells, California at the Renaissance Esmeralda Resort. Playing up the this year's theme "An Oasis of Ideas," topics covered will range from How to Make HR a Strategic Player and...

  • Baxter Credit Union Cited for Caring

    VERNON HILLS, Ill. - Baxter Credit Union has been singled out by The Center for Companies That Care as one of the 17 organizations to make its Third Annual Honor Roll list. Baxter CU was the only financial institution to be awarded with this prestigious honor. The credit union and...

  • HRValue Group Grows as Outsourcing Builds Steam

    MADISON, Wis. - As outsourcing part or all human resources functions begins to gain popularity among credit unions and leagues, HR Value Group LLC is reaping the benefits. Owned by a consortium of 15 leagues and CUNA Mutual Group, HRValue Group has seen an increase in business in the past...

  • Capital Communications FCU Honors Employee of the Year

    ALBANY, N.Y. - Capital Communications Federal Credit Union has honored Branch Representative Howie Silverman as the 2004 Employee of the Year. The 20-year credit union veteran was also recognized for providing outstanding customer service last year with the Top Service Award. "Howie's personality is contagious," said Sue Munks, Main Office...

  • UK Credit Unions Can Accept Government Sponsored Child Savings

    MANCHESTER and LONDON, U.K. - When the Child Trust Funds (CTF) payments begin April 6, Great Britain credit unions can participate, a sign of growing government support for credit unions. Parents of children born after Septemer 1, 2003 will receive up to 500 (US$950) paid directly into the special accounts....

  • Employee Benefits Going to Dogs, Cats and Birds?

    BREA, Calif. - Veterinary Pet Insurance Group Sales Manager Bill Gorman says don't underestimate the value of pet insurance as a creative employee perk. "A lot of people think of their pets as family members and they don't want finances to get in the way of giving their pet the...

  • HRD Network Names HR Professional of the Year

    GLENDALE, Calif. - Fiscal Credit Union Vice President of Human Resources Paula A. Currens has been named HRD Network's Virginia Baldauf Human Resources Professional of the Year. Named after former HRD Network President and retired San Mateo CU HR Executive Virginia Baldauf, the award is presented to an HR professional...

  • Special Report: Human Resources

    Find out why credit unions should jump on the HSA bandwagon before banks do in the HR special report on pages 22-27.

  • Mobiloil FCU Adds HR Director

    BEAUMONT, Texas - Mobiloil Federal Credit Union has named Christine Moore human resources director. Moore received her undergraduate degree from the University of Texas in Austin and her MBA from the University of Dallas in Irving, Texas. She brings extensive management experience in the healthcare industry to Mobiloil FCU. In...

  • Seven Seventeen CU Names New HR VP

    WARREN, Ohio -Seven Seventeen Credit Union has a new Vice President of Human Resources in Camille A. Favre In her new position, Favre is responsible for the strategic positioning of all human resources functions to achieve a productive and positive working environment for credit union employees. Favre brings over 20...

  • Is There a Cure for Call Center Churn? Maybe Not, But Credit Unions Can Slow it Down

    WEST PALM BEACH, Fla. - As more and more credit unions reach the size where a call center starts to make sense, they're discovering jobs fielding hundreds of calls a day may create one of the highest turnover rates they've seen. A recent report by MarketWatch ranked telemarketing and customer...

  • UK Treasury and Credit Unions Ponder Interest Rates Hikes

    LONDON, U.K. - The British Treasury is deciding whether to raise the 1% a month/12.68% APR credit union loan rate cap and has launched a full study into the issue. The Association of British Credit Unions, Ltd. (ABCUL) wants members to respond. In favour of a raise is the Joseph...

  • Share Draft Accounts Still Popular with Members

    WEST PALM BEACH, Fla. - Despite the growth in online banking usage, share draft accounts continue to be a popular product among members. The latest data from Callahan & Associates ranking share draft penetration by state shows the top four states have 50% or greater share draft penetration among their...

News Briefs

  • Randolph County FCU Closed March 22 for Insolvency

    ALEXANDRIA, Va.-NCUA was forced to shut the doors on a small credit union recently. Randolph County Federal Credit Union was closed down by the agency March 22 after NCUA determined it "is insolvent and has no prospects of restoring viable operations." Member funds were to be released within five days...

  • Redstone FCU Commits $25,000 Over Five Years to Help Low-income Families Become Homeowners

    HUNTSVILLE, Ala. - Redstone FCU has pledged $25,000 over a five-year period to Family Services Center's North Alabama Individual Development Account Program that's designed to assist low-income families take the necessary financial steps to becoming homeowners. The program targets low-income families who are not immediately ready to purchase a home...

  • Community Bankers Scale Back SBA Micro Loans, Survey Shows

    NEWARK, N.J. - Some community banks are not enthused about the SBA's micro loans. They're dropping the loans from their offerings, according to the Community Bank Competitiveness Survey 2005 survey from the ABA Community Bankers Council and ABA Banking Journal. Four percent of banks surveyed said they have dropped SBA...

  • Municipal Credit Union's ATMs Pass 100

    NEW YORK - A CU which lost million of dollars in ATM theft after the September 11 attacks now has more than 100 of the machines in place. The new ATMs belong to the $1.1 billion Municipal Credit Union and will serve members at the Kings County Hospital in Brooklyn...

  • Alabama SBA Names Redstone FCU as State's Top Lender

    HUNTSVILLE, Ala. - Redstone Federal Credit Union has earned the distinction of being the state's top SBA lender, less than two years after it began offering such loans. The $1.7 billion credit union became an SBA lender in late 2003 and closed its first loan in June 2004. To date,...

  • Colorado, Wyoming Leagues Hire PR/ Marketing Agency Founder as New SVP Communications/Marketing, HR

    ARVADA, Colo. - The Colorado and Wyoming Credit Union Leagues hired Grace Stanton, founder and president of a strategic public relations and marketing agency Stanton & Associates, as their new senior vice president of communications/marketing and human resources. Before starting her own agency, Stanton was a vice president with The...

  • FCU Dividends Can Vary on Regional Basis, NCUA States

    ALEXANDRIA, Va.-Federal credit unions may pay different dividend rates on shares based on location of the branch, provided a rational reason exists, NCUA Associate General Counsel Sheila Albin wrote in a recent legal opinion letter. "You state USA Federal Credit Union operates branches in Japan, Korea, Guam, and the United...

Marketing

  • American 1 FCU Expo Taps into its Feminine Side

    JACKSON, Mich. - American 1 Federal Credit Union's second Spring Expo had a major goal - to grant women here at least one day to not only focus on themselves but also make personal improvements to their lives. Women here were obviously grateful for the respite as neither snow nor...

  • Credit Union Marketers get Pep Talk, Urged to Avoid Complacency

    PALM SPRINGS, Calif. - Mark Adams doesn't pull any punches in discussing how credit unions nationwide treat potential members on the telephone. "Congratulations," he told a gathering of marketing professionals at the 12th annual CUNA Marketing and Business Development Conference. "Everybody stinks." And with that, Adams, a former college basketball...

  • Bayer FCU Launches Club G

    ELKHART, Ind. - Bayer Federal Credit Union is hoping young members want into Club G, a new financial literacy program wrapped up in a youth account. Designed to give kids from the age of birth to 11 a basic introduction into the world of financial management, Club G gives members...

  • United Teletech FCU Names New Marketing/Community Relations Director

    TINTON FALLS, N.J. - United Teletech Federal Credit Union has named Patricia M. Hansen director of marketing and community relations. Hansen's responsibilities range from creating and executing marketing plans and branding initiatives to advertising, Internet communications and community outreach. Previously serving as Public Relations and Marketing Coordinator for Memorial Medical...

  • Daniel New EECU Marketing VP

    FORT WORTH, Texas - After spending 20 years with Texans Credit Union, Lori Daniel has made the move to EECU as Vice President of Marketing. Daniel will oversee the marketing, business development and public relations functions. During Daniel's 20-year credit union career she has received more than 100 statewide and...

Tech Bytes

  • Tinker FCU Implements FICS' Loan Origination System

    OKLAHOMA CITY - Tinker FCU, the largest credit union in Oklahoma, has successfully implemented Dallas, Texas-based Financial Industry Computer Systems' Loan ProducerT residential mortgage loan origination system, and the company's Mortgage ServicerT residential mortgage servicing system. In addition to the two products, the $1.3 billion, 174,000 member CU also purchased...

  • Digital Insight Annual Confab Draws 750 to Vegas

    LAS VEGAS - About 750 people, including 475 from nearly 300 financial institutions, recently attended Digital Insight's sixth-annual client conference at the Bellagio resort in Las Vegas. The three-day event, which drew a record crowd for the Internet banking vendor, featured information sessions, workshops, product announcements and keynote speakers from...

  • Financial Partners Inks Telecom Pact with SBC Communications

    DOWNEY, Calif. - Financial Partners Credit Union has committed to a three-year deal with SBC Communications for bundled telecommunications services. SBC Communications, a Fortune 500 company that is the controlling shareholder of Cingular Wireless, will be providing the $623 million credit union with local, long distance, audio conferencing and VoIP...

  • PSCU Offers Faster Online Checking to Member CUs

    ST. PETERSBURG, Fla. - Faster online bill payment is on its way to PSCU member credit unions after the cooperative upgraded its Paylynx online bill pay service. "Our credit unions are extremely eager to offer their members the added benefits of the new CheckFree platform," said David J. Serlo, CEO...

  • Fiserv Units, OSI Announce Core Processing Signings

    COLUMBIA, S.C. - Three Fiserv units have announced signings of core processing clients recently, including two that involve credit unions leaving one Fiserv unit for another. The largest of the CUs involved is $180 million FAA Eastern Region FCU in Clark, N.J., which is moving its core processing and Internet...

  • HarborOne Deploys Storage-Area Network, Gives Old System the Boot

    BROCKTON, Mass. - HarborOne Credit Union is going leading-edge to solve its storage challenges, deploying a storage-area network (SAN) that will centralize the mountains of data the big CU generates. HarborOne is using a solution called Storage Center from Minneapolis-based Compellent Technologies to replace the 11 servers spread across three...

  • Security Service FCU Chooses AT&T in Nearly $2 Million Deal

    SAN ANTONIO - The $3.5 billion Security Service FUC here has signed a $1.8 million telecommunications contract with AT&T for its Member Service Center. The contract calls for AT&T Toll-Free Services to be provided to Security Service's call center over a three-year period. The CU's call center is available seven...

  • FedComp Interfaces Core System with PEARLS from WOCCU

    FAIRFAX, Va. - FedComp (www.fedcom.com) is now interfacing its flagship core processing system - FedComp-TNG - to the PEARLS asset and risk management package from the World Council of Credit Unions (www.woccu.org). The system, which provides a set of financial management and monitoring tools, typically is a single-user application installed...

  • Teres Solutions Adds Direct Lending System to Indirect Offering

    AUSTIN, Texas - Teres Solutions is introducing a direct lending solution to go with the automated indirect lending software the Austin-based company has sold to more than 30 credit unions since the company launched in 2002. Called SAIL Direct, the platform integrates origination, decisioning, funding and reporting for a wide...

  • Digital Dialogue and ILT Partner to Speed Dealership Financing

    AUBURN HILLS, Mich. and SALT LAKE CITY - Digital Dialogue and Indirect Lending Technologies (ILT) have partnered to try and speed the financing process at dealerships. "Using DILLS, our versatile automated decisioning system, increases both speed and efficiency for the credit union as well as members," said Will McGregor, manager,...

  • Alliant Credit Union Adds Software Boost to Help Desk

    CHICAGO - Something that sounds as simple as keeping track of trouble calls can get quite complicated when it involves a few hundred employees, a couple dozen help desk staffers and an array of different computer systems and applications. That's why Alliant Credit Union turned to HelpSTAR help desk software,...

  • Fiserv Completes Securities Sales

    BROOKFIELD, Wis. - Fiserv has finalized the sale of its securities clearing operation, BHC Investments, Inc., to Fidelity Global Brokerage Group, Inc., parent company of National Financial. The $345 million deal effectively ends Fiserv's presence in the securities processing arena. Fiserv of course is a major player in the credit...

  • Mid-Hudson Valley FCU, Consultant Go Way Back Together on Front Lines of Technology

    KINGSTON, N.Y. - In the parlance of high-tech consulting, a project is often called an engagement. In the case of Mid-Hudson Valley Federal Credit Union and Benchmark Technology Group, it's been a long engagement indeed. The relationship between the $470 million New York credit union and the Atlanta-based provider of...

Special Report

  • Heartland CU Unveils New Branch

    MADISON, Wis. - Heartland Credit Union has recently opened the doors to its new main office here. Designed by Milwaukee-based design/build firm La Macchia Group, the 21,252 square-foot building features a prominent three story glass tower, remote four station drive-up with two-way video teller interaction and a point to point...

  • Fox Communities CU Set to Launch In-School Branch

    APPLETON, Wis. - Fox Communities Credit Union is set to open a student-run branch at Northeast Wisconsin Technical College to provide lessons in personal finance while providing a place for students to hone their skills. The new branch, scheduled to open in August, will offer a number of services including...

  • CUNA Credit Union, Summit CU Poised to Make History, Difference in Area Kids' Lives

    MADISON, Wis. - CUNA Credit Union and Summit Credit Union have teamed up with the Boys & Girls Club of Dane County to launch the first credit union chartered to exclusively serve kids and teens. Slated to open in late April in an underserved area here which is peppered with...

  • New Hires for PWCampbell

    PITTSBURGH - Local design/build firm PWCampbell has created two new marketing support positions. Erin R. Campbell has been named special events coordinator and Lauren A. Norris presentation/graphic coordinator. An honors graduate in apparel merchandising from Indiana University, Bloomington, Indiana, Campbell previously held various retail sales associate positions at Ann Taylor...

  • ENT Federal Ties Grand Opening to Community

    COLORADO SPRINGS, Colo. - Ent Federal Credit Union recently took the opportunity to do some good for the community during its grand opening festivities for its Falcon Service Center. The $1.6 billion credit union has donated $5,000 to School District 49 in support of educational programs. "We are pleased to...

  • First New York FCU Makes History with First In-School Branch

    SCHENECTADY, N.Y. - First New York Federal Credit Union and Schenectady High School have broken new ground here by opening the Capital District's first in-school branch office. The "Patriot Branch" is housed in Schenectady High School and will be run by student volunteers drawn from the Global Commerce House classes...

Opinions

Letters to the editor

  • Calling on All CU Leaders to Wake Up and Fight for CU Philosophy

    In response to Henry Wirz's letter in the March 9th issue entitled "Don't Kick Former CUs Out of Shared Branch Networks" I offer these words. Whose side are you on anyway? I, too, was sympathetic to the bankers at one time and felt some proponents of the "people helping people...

  • Excluding Non-Affiliates is Senseless

    When I read Mike Welch's publisher's column a couple of weeks ago regarding non-affiliates attending CUNA and league meetings, it was like de'ja'vu all over again. As Mike probably remembers, we went through this same type of issue over 30 years ago. I was a branch manager at Vista Federal...

  • CU Leaders Have to Tell Their Stories

    I've enjoyed Credit Union Times for almost as long as it's been published. I find it not only informative and educational, but pretty doggone well rounded and balanced. Please consider this Credit Union Times: All of us out here in credit union land, especially, those of us who have been...

  • PR Can't Take Back Seat to Marketing

    I've been following the informal campaign in Mike Welch's column to educate credit unions on the importance of public relations (and the differences between PR and marketing). As a public relations practitioner whose career has solely focused on serving the credit union community over the past 23 years, I obviously...

Looking Back

  • Credit Union Times Vol. 1, No. 3 April 9, 1990

    Looking back 15 years ago finds the American Bankers Association releasing a study entitled, The Credit Union Industry: Trends, Structure and Competitveness, which portrays CUs as "fast growing, expansive financial institutions that have strayed from their origins and serve a membership of predominantly educated, high-income consumers." The study not only...

Publisher's Column

  • Time For a Potpourri Look Around the CU World

    Once again it is time to take a potpourri look around the credit union world at items worthy of comment. Like these: Doug Faucette, an attorney and a credit union director in the `70s, needs to enroll in a Credit Union 101 course ASAP. Speaking to a banker's group recently...

People

  • EAST

    Central Credit Union Fund, Auburn, Mass., has appointed Bob Kupiec operations manager. In addition, Merrimack Valley FCU Business Development Manager John MacDonald has been elected board director. Member One Federal Credit Union, Roanoke, Va., has named Robert Sparrow vice president/Vinton branch manager and Shana Meadows assistant vice president/assistant Vinton branch...

  • WEST

    Technology Credit Union, San Jose, Calif., has named Cynthia Crivello assistant vice president of regional sales and service. Financial Partners Credit Union, Downey, Calif, Senior Vice President Orlandus Waters has been named director to the non-profit fund-raising arm of the Columbia Memorial Space Science Learning Center. SELCO Community Credit Union,...

  • SOUTHWEST

    Tinker Federal Credit Union, Oklahoma City, board director Sheila K. Jones has been appointed to the Oklahoma Credit Union Political Action Committee board of trustees. Community Credit Union, Plano, Texas, has named Camille Ussery assistant vice president of business banking/sales and Cheryl Vander Linden Community Title director of business development.

  • MIDWEST

    Advance Financial Federal Credit Union, Lake County, Ind., has promoted the following employees: Jerry Gomez to vice president of operations, visa and recoveries; Kathy Bailey to vice president of technology, human resources and special assignments; Janet Garcia business development officer; and Shauna Gholson electronic service coordinator. In addition, Advance Financial...

Beyond the Job

  • Hodgkins Enjoys Cooking for a Crowd

    HAUGHTON, La. - Earl Hodgkins loves a good meal, and he often invites a few hundred folks to share it with him. One week, it might be a big vat of Southern Louisiana's finest gumbo, jambalaya or crawfish etouffee. Another week, it might be chili, fried turkey or hamburgers. Regardless...

  • Pook Takes Solo's Fancy Flight to the Top

    MILWAUKEE - Greater Milwaukee Credit Union President/CEO Lori A. Pook says when you see a dog make a mistake in a dog show or agility contest very often it can be the human's fault. Pook has been on the dog agility circuit in Wisconsin since 1998. Her current pride and...

  • Collecting Presidential Autographs Makes History Come Alive for Hier

    TIGARD, Ore. - John Hier feels a certain tingle as he carefully fingers the signed documents he has amassed in nearly four decades of collecting presidential autographs and other American history memorabilia. "There's a certain amount of drama when you're sitting there holding a piece of paper that was signed...

  • Credit Union Leaders Do a Lot `Beyond the Job'

    If you have something you would like included in Beyond the Job contact the Credit Union Times reporter you typically deal with or call Editor Paul Gentile at (561) 683-8515, ext. 10 or e-mail pgentile@cutimes.com. Please note, color photos, preferably of the person doing one of their Beyond the Job...

In Memoriam

  • James Purnell, Seattle African-American CU, Bank Pioneer, Dies

    SEATTLE - James C. Purnell, a long-time advocate of financial equality for African-Americans, died on March 24 after being hospitalized for chest pains. Purnell, 84, helped establish the Sentinel Credit Union in 1958, which provided financial services for an underserved Central District community here. The credit union later merged with...

Events Calendar

  • 2005 VENDOR CALENDAR

    APRIL APRIL 6-8 PSCU Financial Service's Member Forum & Annual Meeting, Gaylord Palms Resort & Convention Center, Kissimmee, Fla. For info: Tom Beatty, 800-443-7728, x 7877. APRIL 10-14 Creditors Law Centers Mapother College of Collections, The Marriott Downtown Hotel, Louisville, Ky. For info: www.mapother.com or Mary Kay McCubbin, 502-587-5452. APRIL...

  • 2005 ASSOCIATION CALENDAR

    APRIL APRIL 3-5 ACUMA Annual Conference, Marriott Marquis, New York City, N.Y. For info: 877-44-ACUMA or www.acuma.org. APRIL 3-7 CUNA & Affiliates' Sales & Service Culture Institute, Harrah's, Las Vegas, Nev. For info: 800-356-9655, x 4249 or www.training.cuna.org. APRIL 3-7 CUNA & Affiliates' Branch Management Institute: Part I, Harrah's, Las...

Voting Poll

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