Credit Union Times Magazine April-27, 2005

  • California Health Savings Accounts Bill One Step Closer to Becoming Law

    SACRAMENTO, Calif. - The California Assembly unanimously approved legislation April 11 that allows state-chartered credit unions to offer members health savings accounts which members can use to offset their health care expenses. AB 434, sponsored by Assemblymember Nicole Parra (D-Bakersfield), cleared the Assembly 78-0. The bill now moves to the...

  • Mica Holds onto Spot on List of Top Washington Lobbyists

    WASHINGTON-CUNA President and CEO Dan Mica was again named to The Hill newspaper's roster of "the people who make K Street matter." This year is the second consecutive year Mica has been named one of the top lobbyists in Washington, according to the April 20 edition of the paper. The...

  • Spartanburg Regional FCU Takes CU Message to the Air Waves

    SPARTANBURG, S.C. - Listeners of Dwayne Corn's Spartanburg 1400 radio talk show who tuned into the station April 6 afternoon had the opportunity to learn more about credit unions, financial and lending tips from Jeff Henry, VP of lending of Spartanburg Regional FCU. Henry, an 11-year veteran of Spartanburg Regional,...

  • Wisconsin AG Wants State Law Change to Protect Minority Car Buyers

    MADISON, Wis. - Wisconsin Attorney General Peg Lautenschlager is going after dealers who charge black and Latino car buyers higher rates than white car buyers for auto loans, and she wants changes in state law to allow her office to seek necessary remedies. The National Automobile Dealers Association reported that...

  • ACUMA Conference Gives Credit Union Lenders, REALTORST Opportunity for Relationship Building

    NEW YORK - The American Credit Union Mortgage Association's (ACUMA) spring annual conference in New York City not only gave attendees the opportunity to enjoy the sights and sounds of the Big Apple, but also chance for credit union lenders and REALTORST to network with and better understand each other...

  • US News & World Report Looks at Campus CUs

    WASHINGTON -U.S. News & World Report has shined the spotlight on credit unions as part of its "Special Report: Paying for College; Finding Help on Campus." According to the article, which touts the benefits of membership, credit unions can be quite a campus resource for college students. "Credit unions-nonprofit financial...

  • NAFCU Awarded NAPS' Golden Thinker Award for Car Loan Column

    WASHINGTON-NAFCU recently received the "Golden Thinker Award" from the North American Prcis Syndicate for a column on car-buying tips. NAFCU Vice President of Communications Jay Morris was given the award by NAPS for NAFCU's "Car Loan Quiz" consumer column. When NAPS released the column, it generated 840 newspaper placements with...

  • New Clarke American Check Series Feature Tropical Images, Romance of Tuscany

    SAN ANTONIO - There are two new additions to Clarke American's check series. "Island Breezes"T and "Tuscan"T will be offered to account holders of Clarke American's financial institutions partners starting April 10. "Island Breeze" is a four-scene check series featuring lush full-color photography of Hawaiian beaches, complete with sand, surf...

  • Russian CU Officials Look to NCUA for Ways to Improve System

    ALEXANDRIA, Va.-Russian credit union officials met with NCUA Chairman JoAnn Johnson and agency staff to learn more about the American system of credit union regulation and supervision. Vladimir Lukov, Deputy Director of Financial Policy in the Finance Ministry of the Russian Federation, and Vadim Kalinichev, General Director of the Russian...

  • Shared Branching Spreads to Ecuador

    MADISON, Wis. - Could shared branching eventually spread around the world? Certainly the World Council for Credit Unions believes it could and is working to help develop the idea. Recently, 12 credit unions in Ecuador have banded together and created the country's first shared branching network, according to WOCCU, which...

  • Almost Done! Vermont CU Bill Moves Closer to Law

    MONTPELIER, Vt.-Members of the Vermont Credit Union League may have a lot to celebrate at their upcoming annual meeting in a few short weeks. Legislators from the Vermont Senate unanimously have passed H. 149, the state's modernized credit union statute. The next stop for the bill is a brief return...

  • Alabama League Wraps Up 72nd Annual Meeting

    BIRMINGHAM, Ala. - The Alabama Credit Union League is celebrating a record attendance at its two-day 72nd Annual Member Meeting and Education Symposium April 14-15. More than 450 employees and volunteers from credit unions around the state attended the event that had as its theme, "Credit Unions: Uniquely Structured =...

  • Allegiance Credit Union Survivors Mark Day in Oklahoma City

    OKLAHOMA CITY - It was a difficult and emotional day for those six employees from Allegiance Credit Union here who took part in 10th anniversary ceremonies and speeches at the site of the old Murrah Federal building that was bombed by domestic terrorists in 1995. "April is always a difficult...

  • New FOM Law has Some N.D. CUs Questioning the League's Competency

    BISMARCK, N.D. - The state's new field of membership law, enacted in March and dubbed a compromise measure to forestall litigation by the banking lobby, is now at the center of a bitter feud within the North Dakota Credit Union League. "This is just a disastrous piece of legislation-bad for...

  • Mid-States Becomes Only Third Corporate CU to Earn Part IV Expanded Authority from NCUA

    WARRENVILLE, Ill. - Members of the $5.6 billion Mid-States Corporate FCU may soon start seeing better certificate and loan rates with the corporate's new investment authority. Mid-States joins WesCorp and Southwest Corporate as the third corporate in the nation to be granted Part IV investment authority from NCUA which allows...

  • MBA Economist tells ACUMA Conferees Little Likelihood of Major Upheavals in Mortgage Lending in 2005

    NEW YORK - Mortgage experts have been predicting the end to the mortgage boom for awhile, but the Mortgage Bankers Association's chief economist isn't making such a dire forecast. Speaking to attendees of the spring annual meeting of the American Credit Union Mortgage Association (ACUMA), MBA VP and Chief Economist...

  • Texans Credit Union Sponsors Texas Soccer Landmark

    DALLAS - A permanent walkway being built to recognize important people and events in Texas' soccer history will carry Texans Credit Union's name. The 1,200-foot esplanade with commemorative markers will run through youth soccer fields at the new Frisco Soccer & Entertainment Center, a 117-acre facility set to open on...

  • Possible Committee Markup Slated for `FASB Fix' Legislation

    WASHINGTON-Credit union lobbyists have expressed confidence that the so-called `FASB Fix' bill will advance through the legislative maze of the House of Representatives. In fact, the Net Worth Amendment for Credit Unions Act (H.R. 1042) may get a full committee mark-up as early as this week, bypassing the subcommittee mark-up...

  • Rapid Growth in Nation's Counties Can't Keep Up with Membership Growth at Some Credit Unions, Many Take it in Stride

    California, Florida, Nevada and Texas are Home to Fastest Growing Counties. FT. WORTH, Texas - Like many of the states in the Sun Belt, Texas is home to several of the nation's fastest growing counties. Of the top 10 growing counties with populations over one million, in six of them,...

  • Visa Announces it Can Live With Pulse, For a While at Least

    ARLINGTON Va.- Now that the Pulse EFT network has merged with Discover, is there still room for both its logo and Visa's on debit cards? Apparently yes, at least of now, according to a new set of policies that Visa, the nation's largest card brand, announced this week. According to...

  • Sunshine State Conversion May Have Died Because of Subprime Lending and Former CEO's Own Loan Actions

    ARLINGTON, Va. - Why didn't the $170 million Sunshine Credit Union finally become a bank? Without a final declaration from federal banking regulators, it is doubtful the overall credit union industry will ever know. But as time has passed more details have emerged that suggest that the $170 million Sunshine...

  • St. Mary's Bank Uses Mass Media to Market its Mortgage Lending Products

    MANCHESTER, N.H. - St. Mary's Bank recently opened its new Mortgage Center with expanded mortgage lending capabilities, and now the oldest credit union in the U.S. is pitching its new concept in mortgage lending through the mass media including print, television and radio. The $542 million, 55,000-member St. Mary's has...

  • CUNA Promotes Pre-K Financial Education Effort on Radio

    WASHINGTON-CUNA President and CEO Dan Mica is hitting the airwaves, hoping to bolster interest in CUNA's new `Thrive by Five' preschool financial education materials. "Parents who don't take steps to teach their preschoolers basic spending and saving concepts and values are leaving it up to strangers, chance, or television," Mica...

  • Becker Slows Down Enough to Reflect on Five Years at the Helm of NAFCU

    ARLINGTON, Va.-NAFCU President and CEO Fred Becker feels it is important to remain `an average guy,' so long as his trade association is a standout. He noted that the former head of NAFCU, Ken Robinson, was a general and so was used to special treatment. Not Becker. "I'm continually taken...

  • At Opportunities CU, It's Not `No' But `When?'; Wegner Award Winner Trying to Penetrate its Unbanked Potential

    BURLINGTON, Vt. - Most credit union executives would cringe if 50% of their members were not bankable. But for community development credit unions, including Opportunities Credit Union, that's why they exist. When it comes to loans, the word "No" becomes "When?" How soon can they help a member reach a...

  • As the Card Data Breaches Grow, Card Experts Foresee a Difficult Problem

    ARLINGTON, Va. - B.J.'s Wholesale Club, HSBC, Polo Ralph Lauren, Fifth Third, DSW, Lexis-Nexis..as the roll call of major U.S. retailers and financial institutions who have had card data stolen has grown, card security experts say that the problem may only grow, at least in the short term. Earlier in...

  • A Real Credit Union Marriage on Track in Oregon as Husband/Wife Team Lead the Charge

    PORTLAND, Ore. - This state's top credit union regulator, Floyd Lanter, chuckles when he describes "a true merger of equals" in the planned combination this fall of PACE CU of Portland and Electra Central CU of Milwaukie. That's because the CEO of each are married in one of the rare...

  • Center for Responsible Lending, CFA Call for Stronger State Protections for Consumers from "Car Title Traps"

    WASHINGTON - There's a new form of high-cost small loan that's quickly becoming popular throughout the U.S., and a new report from the Center for Responsible Lending and Consumer Federation of America says it's potentially as dangerous to consumers as payday loans. Car title loans - short-term high-interest loans secured...

  • Credit Union Trades, NCUA Celebrate Bankruptcy Reform Bill Signing

    WASHINGTON-As promised, President George W. Bush signed the Bankruptcy Abuse Prevention and Consumer Protection Act (S. 256) into law last week after eight years in the making. "I commend the House for acting in bipartisan fashion to curb abuses of the bankruptcy system," President Bush said upon House passage of...

  • Credit Unions Not Touched in Hearing on Tax-Exempt Entities

    WASHINGTON-Despite banking groups' best efforts, credit unions survived unscathed from last week's hearing on the tax-exempt sector. House Ways and Means Committee Chairman Bill Thomas (R-Calif.) held a hearing entitled "An Overview of the Tax-Exempt Sector" April 20 looking into whether an overhaul of the tax code for nonprofits is...

  • TCUSC Network Trying to Fill Hole Left by Community Credit Union

    DALLAS - In an effort to compensate for the loss of 31 Community Credit Union shared branching locations here following the credit union's departure from the Texas Credit Union Service Centers network April 30, TCUSC has added eight new locations in the greater Dallas area. Credit Union of Texas, a...

  • Colorado CUs Come Together in "1 in 3" The Power of Unity

    ARVADA, Colo. - The Colorado Credit Union League's 71st Annual Meeting and Convention was the backdrop for Denver City Attorney Cole Finegan, on behalf of Denver Mayor John Hickenlooper, declaring April 16 as Credit Union Day in Denver. Over 500 credit union professionals and volunteers from 70 credit unions around...

  • PSCU CU Rewards Program Reaches Milestone

    ST PETERSBURG, Fla. - Credit union card rewards programs, once a relative rarity, have kept on growing. Now, PSCU Financial Services, the card processing cooperative for more than 500 credit unions which use First Data Corp's platform, has reached a rewards milestone. More than one million cardholders nationwide now use...

  • Ecuadorian Women Improving Lives Thanks to WOCCU Project

    MADISON, Wis. - For the past three years, the World Council of Credit Unions has been working with Freedom From Hunger on a project that involves offering savings and credit education programs to credit unions in Ecuador. The organization estimates more than 11,500 women are getting their first opportunity to...

  • Voting Poll Results: Credit Unions Divided on Shared Branching Access for Former CUs

    WEST PALM BEACH, Fla. - Credit Union Times' recently expired online voting poll on giving former credit unions access to shared branching networks netted the most votes ever in an online voting poll and proved just how divided CUs are on this issue. On the surface it may seem like...

  • Credit Unions from 35 States to Attend PALS `New' Workshop

    ST. LOUIS-NCUA Board Member Debbie Matz announced that over 260 credit union officials from 35 states are traveling to St. Louis to attend the April 28 Partnering and Leadership Successes workshop. Nine panelists will participate in the 10th PALS forum focused on reaching "New Markets, New Members, and New Business."...

  • Four-Way Colorado Merger Is Off

    BOULDER, Colo. - A proposed four-way Colorado merger announced in January as being under review and which would create a $620 million credit union has apparently been called off with the $224 million Premier Members Federal Credit Union pulling out of the deal citing charter concerns of its sponsors. Premier,...

  • Newtek Adds 525 Merchant Accounts with First Bancard Alliance of Alabama

    NEW YORK - Newtek Business Services, Inc., a distributor of services to the small to medium-sized business market, has acquired First Bancard Alliance of Alabama, the company announced on April 18. The acquisition brings 525 new merchant accounts, with the right to acquire 280 additional accounts, and a production office...

  • OmniAmerican also Going the Sweepstakes Route

    DALLAS - The $1.2 billion OmniAmerican Credit Union has also decided to offer its members prizes to get them to participate in an upcoming vote on whether or not the credit union should change its charter to that of a mutual thrift. In its package of disclosure materials sent to...

  • Auto Expert Partners with USC CU for Auto Locating, Buying Services

    RIVERSIDE, Calif. - USC CU, Los Angeles, has chosen to partner with Auto Expert, Riverside, Calif. to provide its more than 40,000 members auto locating and buying services. That makes 12 credit unions Auto Expert, a CUSO of Altura CU, is partnered with including 11 in Southern California and one...

  • Branson Confirmed as New Director for Missouri Division of Credit Unions

    JEFFERSON CITY, Mo. - Sandy Branson, president/CEO, Missouri State CU, was confirmed April 20 by the Missouri State Senate as the new Director for the Missouri Division of Credit Unions. State Sen. Carl Vogel (R-6), the senator for Branson's district, testified to the Senate Gubernatorial Appointments Committee about Branson's experience...

  • Letter Circulating in Senate in Support of CDFI Fund

    WASHINGTON - Senators Rick Santorum (R-Pa. and Jon Corzine (D-N.J.) have begun circulating a letter among their fellow U.S. senators in support of the Treasury Department's CDFI Fund. The Administration has proposed eliminating the Fund and rolling its budget into a block grant program called Strengthening America's Communities which would...

  • CUDL Expands Board, Adds Two Director Positions

    RANCHO CUCAMONGA, Calif. - David Reynolds, president/CEO, Security Service FCU, and John Lund, EVP of America First FCU have joined the board of Credit Union Direct Lending, expanding the size of the board from nine to 11. CU Direct Chairman Diana Dykstra said CUDL expanded its board "to meet the...

  • Nevala, Anoka Hennepin CU Chairman, Named Minnesota CU Volunteer of Year

    COON RAPIDS, Minn. - The Minnesota Credit Union Network at its recent annual meeting, recognized the years of volunteer work Ron Nevala, chairman of Anoka Hennepin CU, has given the credit union. Nevala as served six years as chairman of the 11,000-member, $90 million CU. He was acknowledged for his...

  • ABNB FCU, Survivor Team Up for Charity

    VIRGINIA BEACH, Va. - ABNB Federal Credit Union staffers and Rudy Boesch of "Survivor" fame have joined forces to lend a hand at the Rudy's Seal Challenge Cross Country Race. The event benefited the Naval Special Warfare Foundation, which provides educational scholarships and other assistance for Naval Special Warfare personnel...

  • MBNA Purchases Home Equity Originator

    WILMINGTON, Del. - MBNA has purchased Nexstar Financial Corporation, a business outsourcer for home equity and other loans and plans to use the purchase to expand its ability to offer these products, usually branded with their affinity partner's brand, to the members of their over 5,000 affinity groups. But Ed...

  • University FCU to offer SBA 7(a) Loans

    AUSTIN, Texas - University Federal Credit Union is among the latest to add the SBA's 7(a) loans to its product lineup. The $641 million credit union said it is the first in central Texas to offer the loans. Chartered in 1936, University FCU serves more than 102,000 members and is...

  • All Sides `Passionate,' say Bankers

    BISMARCK, N.D. - In a state that worries most about declining population, the state's new field of membership law represents a triumph of cooperation between two competing industries-banks and credit unions-according to the chief staff officer of the North Dakota Bankers Association. Providing his take on the Aug. 1 enactment...

  • Rep. Hyde Will Not Seek Re-election

    WASHINGTON-Congressman Henry Hyde (Ill.), chairman of the International Relations Committee and the second ranking Republican on the Judiciary Committee, recently announced that he will not seek a 17th term in Congress. Between bankruptcy reform legislation and U.S. Agency for International Development funding, the credit union trade associations, including CUNA, NAFCU...

  • Bethpage FCU Woos Small Business Owners with New Accounts

    BETHPAGE, N.Y. - Small business owners have another account option to turn to at Bethpage Federal Credit Union. The $2 billion credit union recently launched Bethpage Step-Up Business Checking, an operating account alternative for businesses currently using sweep accounts and money markets to earn interest on business funds. With the...

  • Desert Schools FCU Now Offering SBA Express Loans

    PHOENIX - SBA Express Loans are coming to Desert Schools Federal Credit Union. The $2 billion credit union recently earned the SBA's Express Lender status. The role means a wider range of financing options and faster approval times. The maximum amount for SBA Express loans are $350,000 with a 50%...

  • CUNA Asks for $3 Million for National Financial Literacy Public Service Campaign

    WASHINGTON - CUNA has requested to include $3 million in the Treasury, Transportation and Housing Appropriations bill to fund a national financial literacy public service multi-media campaign from key lawmakers for the federal government's 2006 budget now under consideration in Congress. In letters to the chairman and ranking member of...

News

  • A2A Report Cites Opportunities for Credit Unions to Seize

    WASHINGTON - Credit unions wanting to ensure themselves a spot as their members' primary financial institution, much less not lose business to others, may want to capitalize on the opportunities presented by account-to-account (A2A) technologies. The competition already is going after that fast-growing market, according to Chip Filson, president of...

  • Special Report: Data Processing & Technology

    From CUs helping members move money online to CU security firms calling on former football pros to secure systems, the special report on pages 22-31 has the latest tech news.

  • $4.8 Million Transferred So Far Motorola Employees CU Discovers That Members Want Online Money Moving Capabilities

    SCHAUMBURG, Ill. - If your membership is as tech savvy as Motorola Employees CU's is, you have to find new tech savvy ways to serve them. In late 2003 the $485 million MECU decided to give its members the ability to move money in and out of their credit union...

  • Omni Opens Up

    OmniAmerican CU's bank disclosures are out. See what the $1 billion-plus CU is telling its members. Page 10

  • BECU Launches Fraud Detection System with a Proactive Stance

    SEATTLE - What's in a name? A lot, actually, when you're trying to make sense of the thousands of entries compiled each day by the software keeping track of who's coming and going on your Internet site. That was the biggest challenge faced by Ken Kinloch and his colleagues at...

  • Former NFL Player Finds New, True Calling in Credit Union Land

    TAMPA, Fla. - Rick Woods got the word he was moving to Tampa in a most unusual way - he'd been traded. Woods, now senior vice president of sales and a partner in CastleGarde, a Tampa-based credit union IT security services provider, was a pro football player in 1987, a...

  • Loan Docs, Data Bundler Offers Dual-Language Credit Reports

    SPOKANE, Wash. - Puedo cualificar para una hipoteca? That's Spanish for "can I qualify for a mortgage" and it's a question that SharperLending LLC hopes to help its 17,000 client lenders, including credit unions and banks, answer. SharperLending provides Web-based bundling for ordering, storing and managing mortgage products from initial...

  • Financial Services Sector Lags in Mobile PC Adoption

    CAMBRIDGE, Mass. - Credit unions leery of laptops and tablets are not alone. The financial services and insurance industries are lagging behind other sectors of the economy when it comes to adoption of mobile PC technology, according to a new report from Forrester Research. The report says that business services...

  • Viruses and Worms Top List of IT Security Concerns

    CAMBRIDGE, Mass. - The top three IT security threats facing today's plugged-in organization, including credit unions, are probably viruses and worms, followed by employees acting in unauthorized ways, and failure to comply with regulations. That's from Forrester Research's January survey of 200 technology decision-makers at North American firms of all...

  • Rebuilding Consumerss Trust in Internet will Take Effort, Expense

    CAMBRIDGE, Mass. - The Internet is losing some of its allure as a way to do business in the face of continuing attacks by identity thieves and hackers of all stripes. Rebuilding that trust is going to require aggressive protection of accounts and identifying information, according to a new report...

  • eCU Technologies Enters Service Bureau Mode with Symitar's Episys System

    HARRISBURG, Pa. - eCU Technologies is beta testing its new service bureau solution with the $39 million Choice Community CU in Greensboro, N.C. eCU Technologies is the tech CUSO of the $2.3 billion Pennsylvania State Employees CU. It was created to help credit unions leverage their Symitar core system. This...

  • IT Spending Accelerating, Fueled by New Operational Strategies

    NEEDHAM, Mass. - After years of pure cost cutting, many U.S. credit unions and banks are gearing their IT budgets toward sustainable operational efficiency, a strategic objective that will help fuel robust IT spending growth. That's the assessment of TowerGroup senior analyst Virginia Garcia, who projects $5 billion more in...

Letters to the editor

  • Trying to Change "Banking" Now is Fruitless

    This entire discussion about credit unions not using the term "banking" is ridiculous, and I'm sure the bankers are getting a great laugh about it. There is no other English word that can be substituted. Financing? Crediting? Credit Unioning? No American citizen is going to change his or her basic...

  • Credit Union Phone Systems Leave a lot to be Desired

    I just wanted to echo Mike Welch's comments about credit union telephone systems in his April 6 column, "Time for a Potpourri Look Around the CU World". I remember talking to the CEO of a large credit union and complimenting him on the fact the credit union's general number was...

  • Setting the Record Straight on "Stolen" Money

    In a news brief in the April 6 issue regarding Municipal Credit Union opening its 100th ATM, it stated that after the Sept. 11 attacks members "stole" $15 million from the CU's ATMs. I just want to set the record straight. During the destruction of the attack, MCU lost communication...

  • Let's Take on Ensweiler's Challenge, Not Ridicule It

    MACDONALD

  • It Would be Great to Eliminate "Bank" Words, But How?

    Regarding your online voting poll (see page 4), "Should credit unions eliminate "bank" and "banking" from their marketing vocabulary?", I don't see how we can altogether. I think we should as much as possible, but it can be difficult. What's the alternative to home/online banking? Home credit unioning? What I...

  • Burns: APWG is an Easy One

    It was apparent from Mike Welch's April 6th column that Welch was "phishing" for some help in de-weeding the acronym: APWG. I am very pleased to offer my assistance. These acronyms continue to grow like weeds. However, don't choke just yet, the Alien Plant Working Group (APWG) specializes in eradicating...

Tech Bytes

  • Prime Alliance Becomes Shareholder in MortgageClickT

    WOBURN, Mass. -Prime Alliance Solutions has become a minority shareholder in MortgageClick, the mortgage decisioning platform distributed to credit unions. MortgageClick, which is powered by Prime Alliance, was created in 2003 as an extension of Members Mortgage Company. The technology was spun off as a separate entity in January 2004....

  • Orange County Teachers FCU Uses New Training Software to Cut Costs

    SANTA ANA, Calif. - Orange County Teachers Federal Credit Union says it plans to save $200,000 a year in compliance training costs with an automated knowledge-sharing system from OutStart Inc. The $5.2 billion CU is using OutStart Studio to create, deploy and manage training for its staff and says it...

  • Simplified Wire-Transfer Solution Rolled Out by IntegraSys

    FRISCO, Texas - IntegraSys is now offering credit unions a browser-based tool to simply the process of making wire transfers, the Fiserv core processing unit says. The WireXchange solution offers one-time data entry into an end-to-end wire transfer process that includes OFAC screening, host system posting, Federal Reserve delivery and...

  • Open Solutions' New Integrated Contact Management Platform

    GLASTONBURY, Conn. - Open Solutions Inc. is now offering a browser-based way for tellers and call center staffers to have integrated access to CRM, transaction and business process management tools. Called the Interaction Management Center (IMC), the relationship management system integrates capabilities that normally have to be accessed by going...

  • Summit Selects HP for Business Continuity

    CORVALLIS, Ore. - Credit union data processor Summit Information Systems has selected Hewlett Packard for business continuity planning and annual recovery training for the company's Florida-based data centers, which are vulnerable to hurricanes and other disasters. "We go through disaster recovery training and prepare the staff each year for any...

  • Compliance EAGLE Offers Automated Reviews for Mortgage Lenders

    LAGUNA HILLS, Calif. - QuestSoft Corp. is adding what it calls an end-to-end, fully automated compliance review solution to its lineup of Home Mortgage Disclosure Act and Community Reinvestment Act compliance solutions and geocoding services for lenders. Compliance EAGLE automates the entire mortgage lending process in a single system and...

  • Mountain America Signs for Three More Years with DI

    WEST JORDAN, Utah - Digital Insight has retained one of its long-time clients, as Mountain America Credit Union renewed its relationship with the Internet banking vendor for three more years. The $1.4 billion CU, Utah's second largest, has been a DI client since 1999. Mountain America has been using DI...

  • Fiserv Converting Community Cu in Third Quarter

    LAKE MARY, Fla. - Fiserv doesn't just dominate in the credit union space with its seven core processors, it's also doing very well in the bank processing arena. The company announced today that its Fiserv CBS Worldwide completed nine conversions in 2004 and has 11 scheduled for this year. Upcoming...

  • qbt Systems Signs with PSCU, Retains Relationship with Open Solutions

    NEW YORK - qbt Systems has added one big new customer and kept a second. The Manhattan-based provider of middleware solutions will be providing its MultiPoint Integrator solution to PSCU Financial Services to allow the big CUSO's contact centers to expand and integrate its CUAlways member support services program with...

  • Fed Redesigns Financial Education Web Site

    WASHINGTON-The Federal Reserve System announced last week that it had overhauled its financial education Web site. The effort was made in hopes to increase the usage of Federal Reserve educational materials and promote financial education in the classroom. The new site, www.FederalReserveEducation.org, incorporates four Federal Reserve Web sites under one...

  • LANCO FCU Farms Out Fraud Fight to COWWW Software

    LANCASTER, Pa. - LANCO Federal Credit Union here is fighting fraud while lessening hassles for its members by scanning in images of drivers' licenses for easy retrieval at the teller window. The $41 million CU is using a Web-based check and drivers' license electronic capture solution from COWWW Software (www.cowww.com)...

  • Automated Advisors to Join Service Lineup at Affinity Plus

    ST PAUL, Minn. -Affinity Plus Federal Credit Union will be offering its 123,000 members some free financial advice soon, online and automated. The $973 million credit union has signed on with Experion Systems to use its Loan and Deposit Account Advisors tool. The interactive solution emulates the dialogue of a...

  • Integrated Member Contact Center Software Offered by OSI

    GLASTONBURY, Conn. - Open Solutions Inc. is now delivering a browser-based platform that gives tellers and call center staffers integrated access to CRM, transaction and business process management tools. The Interaction Management Center (IMC) integrates capabilities that normally have to be accessed by going from application to application, the company...

Quotes Worth Quoting

  • Quotes Worth Quoting

    "All in all we're pleased. It was a broad general overview." -CUNA Vice President of Legislative Affairs and Senior Legislative Counsel Gary Kohn said following a hearing last week in the House Ways and Means Committee on the tax-exempt sector. "[T]here is little or no evidence credit unions are better...

From the Board Room

  • NACUC Issues Call to Credit Union Board Leaders

    DEL MAR, Calif. - The National Association of Credit Union Chairmen is set to unveil what it takes to be an effective credit union chairman during its Leadership Development Seminar June 12-14 at the L'Auberge Del Mar Resort and Spa. The seminar will be led by Dan Clark, president of...

  • MaPS CU Elects Supervisory Committee Officers

    SALEM, Ore. - Community leaders Gary Nelson, Brad Tedrow, and Brant Wolf recently were elected to the Marion & Polk Schools Credit Union Supervisory Committee. Gary Nelson, a retired Salem businessman and MaPS member since 1988, was elected chairman of the committee. He has been a Supervisory Committee member since...

  • Paragon Group Institutes Focus on Improving Leadership Skills

    OLYMPIA, Wash. - The Paragon Consulting Group, LLC has recently announced three conferences for credit union leaders. The Supervisory Committee Institute, co-sponsored by the Washington Credit Union League will be held August 8-10 at the Seattle Marriott Waterfront Hotel. With the demand on Supervisory Committee members rising given mounting regulations...

  • CUES Unveils Director Education Center

    MADISON, Wis. - In an effort to help credit union boards stay current, CUES has launched the Director Education Center. The online program of comprehensive governance courses consist of 13 core and 12 elective classes designed to only address topics relevant to directors. Participants have the choice to take courses...

News Briefs

  • OTS Director Gilleran Makes Exit

    WASHINGTON-Office of Thrift Supervision Director James E. Gilleran recently announced that he will leave his post at the regulatory agency as of April 29. Gilleran has served at OTS for more than three years. Under his tenure, the thrift industry grew and is the healthiest in its history. He credited...

  • Alabama Credit Union League First League to Join MDC

    BIRMINGHAM, Ala. - The Alabama Credit Union League Board of Directors has unanimously approved a $100,000 investment to purchase one Class A share in the Members Development Company, LLC, making the ACUL the first U.S. league to join MDC. Alabama Credit Union League President/CEO Gary Wolter commended the board for...

  • CU National Mortgage Taps CUMAnet President as Their New VP of National Sales

    PINE BROOK, N.J. - CU National Mortgage, a wholly-owned subsidiary of US Mortgage Corp., which provides mortgage lending services to credit unions throughout the U.S., has named Ira Oskowsky its new Vice President of National Sales. Oskowsky has spent the last five years as president of Credit Union Mortgage Alliance...

  • CCUL Charges Search Committee with Finding Chatfield's Successor

    RANCHO CUCAMONGA, Calif. - It won't be easy finding a new president/CEO of the California Credit Union League, but that's the job assigned to a seven-person search committee the League has formed to implement its succession plan and recruit and select CCUL's new leader. Chatfield recently announced his plans to...

  • Texans Financial Taps Former CUNA Mutual Exec Kirkindoll as President

    RICHARDSON, Texas - Gary Kirkindoll, a former vice president at CUNA Mutual Group, has left to become the new president of Texans Financial. Texans Financial is the wholly-owned subsidiary of $1.5 billion Texans Credit Union. Kirkindoll will be responsible for overseeing the overall planning, development, operations and financial results of...

  • CORRECTIONS

    An article in the April 6 issue, "New CU Car Loans Program Helps Declined Auto Loan Applicants" mistakenly identified the credit union involved as 1st Community Credit Union. The CU has a federal charter and is called 1st Community Federal Credit Union. This is the correct logo for 1st Community...

  • Pulse Adopts Tiered Interchange Schedule

    HOUSTON - Credit unions which use the PULSE EFT network, will see an average 20% increase in their PULSE interchange starting June 1, 2005 as the debit network adopts a tiered interchange structure similar to that used by MasterCard and Visa. Previously the network, which had been owned by financial...

People

  • MIDWEST

    Postal Credit Union, Woodbury, Minn., has promoted Patty Kamas to business development manager. Community Choice Credit Union, Livonia, Mich., has appointed Leonard Carleton chief financial officer. First Ohio Community Federal Credit Union, North Canton, CEO Kim Lapinski has been elected Ohio Credit Union League Stark County Chapter board director. IU...

  • WEST

    Global Credit Union, Spokane, Wash., has promoted Sue Welberry to business and member development manager and Ronda Reichert to MBSC operations manager. The Golden 1 Credit Union, Sacramento, Calif., has named Lisa Marie Florie Elk Grove Commons branch manager. Alliance Credit Union, San Jose, Calif., has named Bruce Fox chief...

  • SOUTH

    Dow Louisiana Federal Credit Union, Plaquemine, has promoted David Blazier to vice president of marketing and Mary Coghlan to vice president of human resources. Florida Credit Union League, Tallahassee, has named Julianne Talley conference director for KNOWMORE, the League's education department and Mike Silvers KNOWMORE sales and performance consultant.

In Memoriam

  • In Memoriam

    Credit Union of Southern California, San Diego, Calif., former CEO Joe Incorvaia has died at the age of 85. The CU pioneer took over the Assistant Treasurer/Manager position of the Whittier Area Schools FCU in the 1950s when it had less than $100,000 in assets. While teaching full time at...

  • Williams, President/CEO Listerhill CU, Dies

    BIRMINGHAM, Ala. - Charlotte Young Williams, former president/CEO, Listerhill CU, died April 17 after a long but courageous battle with cancer. She was 56. An employee of Listerhill CU, Muscle Shoals, from 1974-2002, she headed the credit union - one of Alabama's largest with more than $268 million in assets...

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In Other News

  • DONATIONS

    Postal Credit Union, Woodbury, Minn., has raised $4,075 to Hunger Solutions, a statewide partnership of organizations dedicated to eliminating the root causes of hunger. Funds were raised during a "skip a payment" promotion where $20 would be donated to Hunger Solutions for each member who opted to skip a payment....

Opinions

  • Alternative Uses for AVMs Yield Significant Benefits for Credit Unions

    Signs of a strengthening economy and the resulting rise in interest rates have put the brakes on the mortgage "refi" explosion. What was a seemingly endless influx of first and second mortgage originations has declined dramatically, something that has proven painful for many lending organizations. Maintaining existing mortgage customers has...

  • Why CUs Should Upgrade Internet Banking Software . Even if It Works

    The new generation of banking applications offers significant means of cutting costs; from streamlining membership and loan operations to reducing the labor and expense of sending monthly statements. Some of these organizational efficiencies are so significant they can pay for themselves in as little as a year. For instance, online...

Publisher's Column

  • CUNA Credit Union Name Change Long Overdue

    Although it is a huge and sometimes emotional step, hundreds of credit unions have undergone a name change in recent years. But when a credit union traces its founding back to two of the credit union "movement's" most revered pioneers, Roy Bergengren and Tom Doig, and when that CU has...

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