Credit Union Times Magazine August-03, 2005
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Court Throws Out One Interchange Case
SAN FRANCISCO - A Federal District Court has thrown out, with prejudice, merchant complaints that Visa and MasterCard's interchange rates are anti-competitive, ruling that the merchant plaintiffs have no case under federal anti-trust laws. The merchants brought their case in the District Court for the Northern District of California in...
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Community First CU's High-Tech Bartow Branch Offers Internet Caf
BARTOW, Fla. - High tech meets high touch in a big way at the new Community First Credit Union branch in Bartow. The colorful, 4,300-square-foot facility houses not just a full-service retail financial service office, but a coffee shop with wireless Internet access, inside and outside seating and a breakfast...
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CardSystems Hearing Reveals What Happened, But Not What To Do
WASHINGTON - Executives from the major card brands as well as CardSystems Solutions spent over four hours last week testifying before the House Financial Services Committee's Subcommittee on Oversight and Investigations about how up to 40 million credit and debit card accounts were compromised in the industry's biggest card security...
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Credit Unions Getting Serious about HSAs, CUNA Mutual Program Has 70 CU Participants
MADISON, Wis. - When it comes to Health Savings Accounts (HSAs) more and more credit unions are making room to offer them to members. For example, CUNA Mutual's HSA program introduced to credit unions in early March so far has over 70 credit unions enrolled and offering HSAs to their...
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CUNA Brings in Big Gun Agency to Offer New Political Advocacy Program
WASHINGTON -Developing more "formalized" hands-on training to push a positive credit union message before lawmakers and the media, CUNA said this month it is offering a new political advocacy package to state Leagues and their leadership by using services of a Washington PR firm. Under the program which had its...
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CURIA, CU Charter Conversions Top List of Priorities at AACUL Summer Meeting
NEW YORK - There were several items on schedule for credit union league staff to cover over three days at the American Association of Credit Union Leagues' summer meeting last month, and most of that time was spent talking about CURIA, the ways leagues can fine tune their strategies to...
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Bank/Credit Union Clash Heats Up in Nevada
LAS VEGAS - The Nevada rhetoric between banks and credit unions over the tax exemption, "mega" CUs and what's happening to SBA loans is heating up again this month with both sides claiming false statements appearing in a statewide business journal. Delighting the Nevada Credit Union League were comments attributed...
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As Austin Becomes More Business Friendly, Seven Texas CUs Form Member Business Lending Alliance
AUSTIN, Texas - Budding entrepreneurs are quickly realizing that Austin is starting to become one of the more "small business friendlier" cities in the nation. To accommodate them, seven Texas credit unions have partnered to bring business lending and deposit services to its members and beyond. CU Business Solutions is...
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Senator Dole Proposes Military Anti-Predatory Lending Bill
WASHINGTON-Senate Banking Committee Member Elizabeth Dole (R-N.C.) introduced legislation last week to provide members of the armed services extra protection against predatory lenders. The legislative language would provide additional consumer lending protections to credit extended to a service member or their dependent by capping interest rates and includes stiff penalties...
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Maryland League Calls Special Meeting for Proposed Merger Vote
COLUMBIA, Md. - The Maryland Credit Union League held a special membership meeting July 28 to give affiliated credit unions and "any member of the CU's official family" including CEO, board member and management staff the opportunity to vote on the League's proposed merger with the D.C. Credit Union League....
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"Hello Chairman, Hello Vice Chairman"
At the time of this shot, WOCCU Board Chairman Bobby McVeigh (left) and Vice Chairman Gary Plank, CEO of the Arizona CU League, chat between sessions at the WOCCU 2005 Credit Union Conference in Rome. Later in the conference, it was announced that Plank would take over as WOCCU's chairman....
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Business Lending Startup Costs Typically Range Between $250,000 and $500,000
The costs to add business lending to a credit union's offerings vary but according to Pat Spencer, credit union solutions manager at Baker Hill, "at the very least, to do it right and not put 100% of the burden of getting the entire department up and running on the new...
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Maine League Holding Summit on Base Closings
PORTLAND, Me. - Expressing new concern about the impact of base closings, the Maine Credit Union League has scheduled an "Economic Roundtable" this month to explore how to aid CUs, businesses and members in hard-hit communities. "The idea of an economic roundtable was an idea I had to discuss with...
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Mabry to Take Up Retirement Life in 2006
FORT COLLINS, Colo. - G. Charles "Chuck" Mabry, president/CEO, Norlarco CU promised his board when he decided to retire he'd give them one year's notice - and he has kept that promise. The 64-year old Mabry has announced his plans to retire June 30,2006. Previously employed in executive capacities with...
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Financial Plus Makes GM's `Employee Discount for Everyone' Work for CU's Indirect Lending Activity
FLINT, MICH. - Detroit carmakers aren't the only ones enjoying the benefits of their latest incentive program to boost car sales. Several credit unions are also seeing the seeing the rewards of the "Employee Discount for Everyone" promotion in the form of increased indirect auto loan volume. General Motors reportedly...
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Rumors that Community Charter Applications Slowing Untrue, Agency Says
ALEXANDRIA, Va.-Despite the fact the NCUA Board has not approved a community charter since September 2004, the board is not reluctant to consider community charter applications. However, the regions have been busy plowing through stacks of conversion applications. Sixty-one had been approved as of the end of June, well over...
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North Dakota CUs Withdraw `Test' Bids as FOM Law Takes Effect
BISMARCK, N.D. - Any test of the state's new 75-mile field of membership law appeared all but dead last week as two small North Dakota CUs withdrew their applications for FOM extensions after hearing from attorneys that "under-the-wire" bids would be futile because of a retroactive clause. The controversial FOM...
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Top CUNA Mutual PR Exec Lindner Leaves Company for Kraft Foods
MADISON, Wis. - So often the CUNA Mutual "spokesperson" quoted during the company's labor dispute with its union was CUNA Mutual Assistant Vice President of Public Relations Sydney Lindner. As Lindner knows, that's sometimes the job of the PR professional, to be the conduit between the press and the company's...
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Trades Generally Support NCUA's Proposed Fidelity Bond Coverage Changes
ALEXANDRIA, Va.-Though they have some reservations, CUNA and NAFCU generally looked favorably upon amendments proposed by NCUA to the fidelity bond requirements. NCUA requested comment on a proposed rule to increase the maximum deductible permitted for fidelity bonds from $200,000 to $1,000,000; change the required coverage amounts for larger and...
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NCUA, Community Call on Their Legal Teams, Is it a Fair Fight?
ARLINGTON, Va. - The ongoing struggle between NCUA and the $1.4 billion Community Credit Union over whether the credit union will have to ask its members to vote again on whether or not to become a mutual bank entered a bit of a lull last week. Each side has chosen...
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Maryland League Vice Chair Weighs in on Volunteer Representation
LUTHERVILLE, Md. -Volunteers, whose call for greater representation in trade group leadership surprised top brass at NAFCU's annual conference in Las Vegas last month, have also been turning their attention to state Leagues. Those trade groups would benefit greatly with insight and experience from more volunteers on their boards of...
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IRS Gives Federal Credit Unions Aug. 15 Deadline to Modify 457(b) Plans
WASHINGTON - The deadline for federal credit unions to decide if they want to make changes to their 457(b) deferred compensation plans is Aug. 15, the Internal Revenue Service said. The IRS notice allows any FCUs with a 457(b) plan already in place by mid-August to maintain its plan and...
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Matz Worries Staff Too Lean, Fears it's Leading to More CAMEL 4 and 5 Credit Unions
ALEXANDRIA, Va.-NCUA's high vacancy level has been at issue at the agency for some time now. At the July 21 NCUA Board meeting, NCUA Board Member Debbie Matz raised concerns that the agency's low staffing levels could be taking a toll on examinations of federal credit unions. "Operating with a...
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Mortgage Originations Down, but Mortgage Fraud Continues to Increase
WASHINGTON - Despite the drop in mortgage originations in 2004 from 2003, preliminary 2004 numbers on residential mortgage fraud and misrepresentation evaluated by the Mortgage Asset Research Institute show that related problems are on the rise. MARI recently released its Seventh Periodic Mortgage Fraud Case Report to Mortgage Bankers Association...
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Michigan's State Employees Credit Union Completes Primary Financial Institution Goal with Rollout of Trust Services
LANSING, Mich. - Ripe on the heels of recent charter expansion, State Employees Credit Union is now offering trust services to its members. The $730 million credit union has partnered with MEMBERS Trust Co., the nation's first credit union-owned, nationally chartered trust firm to provide trust and estate planning services....
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NCRC Still Pushing For Mainstream Credit Unions to be Forced Under CRA; Effort Discussed On Several Fronts
WASHINGTON - The National Community Reinvestment Coalition has not given up its effort to force mainstream credit unions under the Community Reinvestment Act and is approaching the effort on a number of fronts, according to the minutes of a June 17 meeting of the organization's "Credit Union Team." The meeting's...
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Warzala New Manager of CU Mortgage Services
NEW BRIGHTON, Minn. - Dean Warzala was named manager of CU Mortgage Services, a subsidiary of CU Companies, succeeding Brad Crandall who was recently promoted to CEO of CU Companies. Warzala comes to CU Mortgage Services from Voyager Mortgage where he founded that company's wholesale mortgage division. Prior to working...
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CU National Mortgage Signs Outsourcing Agreement with Six Credit Unions
PINE BROOK, N.J. - CU National Mortgage has signed a full service, outsourcing agreement with six more credit unions, bringing CU National services to an additional 25,000 members and a total of 85 CUs. The six CUs are Seaboard CU, Jacksonville, Fla.; and Moorestown, N.J.-based ACUME FCU, Aluminum Shapes Employees...
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Fiserv Commits $250,000 to Filene
MADISON, Wis. - Other than CUNA Mutual Group, there's arguably no vendor with so much invested in the credit union industry than Fiserv, and its commitment just went a little deeper. Fiserv, which has seven core processing subsidiaries focused on CUs and over 3,000 core CU clients, has pledged $250,000...
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GM Ends `Employee Pricing' Incentive
DETROIT - Claiming that strong sales in June and July pushed by its popular and successful "employee discounts for everyone" promotion have left it with depleted inventories of the 2005 models the offer applied to, General Motors announced July 27 it was discontinuing the promotion Aug. 1. The company said...
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NCUA, HHS Promote AFI Grant Training
ALEXANDRIA, Va.-NCUA Chairman JoAnn Johnson encouraged credit unions serving low-income communities to attend upcoming Department of Health and Human Services' Assets For Independence training sessions. "The HHS Assets for Independence (AFI) grant program is an excellent way that low-income credit union members can begin to achieve sound financial footing, and...
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PCUA Unveils 2005 SNAP Campaign Art
HARRISBURG, Pa. - Thirty-two years after launching its first Statewide Network of Advertising in Pennsylvania campaign, the Pennsylvania Credit Union Association has put the finishing touches on a design for its 2005 SNAP billboards. This year's campaign, funded by voluntary contributions from more than 230 credit unions that totaled nearly...
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Pemco Adds Travel Insurance to its Awards Platform
SEATTLE - PEMCO Technology Services has added a form of trip insurance to its platform of travel awards programs. The Seattle-based firm has deep roots in Washington credit unions and currently serves 235 card clients, most of them credit unions, which process their cards in-house. The new product, an Air...
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Schwarzenegger Signs HSA Law, Creates Parity for State-Chartered CUs
SACRAMENTO, Calif. - California Gov. Arnold Schwarzenegger signed into law on July 21 legislation that will allow state-licensed credit unions to offer their members health savings accounts, effective January 1, 2006. The law creates parity between California's state-chartered credit unions and federally-chartered credit unions, because the latter were already permitted...
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BofA Jumps into HSA Game
CHARLOTTE, N.C. - If credit unions aren't ready to step up and offer Health Savings Accounts (HSAs) apparently one banking giant is planning to take action. Just in time for this fall's benefits enrollment period Bank of America will be standing ready to offer HSAs to the commercial marketplace. BofA...
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Eastern Financial Florida CU's Business CUSO Signs on First Partner
MIRAMAR, Fla. - Just weeks after its formal launch, Eastern Financial Florida Credit Union's business lending CUSO has signed its first partner. The $1.8 billion CU recently launched CU Business Capital, LLC, a business lending CUSO. On July 27, Boca Raton, Fla.-based Biz Lending Center signed on with the CU...
In Other News
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AWARDS
BAI, Chicago, has announced its Credit Union Training program has won one Telly Award and three Videographer Awards. "Teller: Exceptional Service in Action," was awarded a Silver Telly in the video productions category, and the same production also received an Award of Excellence in the Videographer's video production category. Credit...
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DONATIONS
EDS Credit Union, Plano, Texas has sponsored the 15th annual North Texas Komen Race for the Cure, which benefits the work of the Susan G. Komen Breast Cancer Foundation. Some 40 employees and their families represented the credit union. To help spread the word that EDS Credit Union membership is...
News
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Plank is WOCCU's New Chairman
ROME, Italy - Gary Plank, CEO of the Arizona Credit Union League, has another title, Chairman of WOCCU. He received the chain of office from outgoing Chairman L.R. Bobby McVeigh. The symbol of office is literally a black and gold series of metal squares with a gold medallion, presented by...
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Blaine and Nicholls Discuss the Apples and Oranges of CU Values
ROME, Italy - Bank like, or not bank like, maximizing profits, or maximizing service these were some of the credit union values bantered around the stage at the 2005 WOCCU Conference. Jim Blaine President of State Employees Credit Union in Raleigh N.C. and Rob Nicholls CEO of Australian National Credit...
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Future Credit Union CEOs Gather in Rome
ROME, Italy - They came from Australia, Canada, Guatemala, Ireland, New Zealand, Poland, Singapore, Trinidad & Tobago and the U.S. They are all under 35 years old and they work as credit union tellers, IT people, lawyers, marketing managers, sales representatives, branch representatives and loan officers. Their credit unions are...
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Reporter's Notebook: Diversity Everywhere, but Feeling of the World Movement Strong
Two Lions frozen in white marble flanked the entrance of the Cavalieri Hilton Hotel where WOCCU held the 2005 World CU Conference in Rome, Italy. In any one moment, so much happened. Walking the halls one could hear the lilt of Irish accents contrasted with clipped British vowels and the...
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WOCCU Sees High Attendance in Rome Edition of World Conference
ROME, Italy - Attendance figures at WOCCU's 2005 Rome Conference are at a record for their conferences held outside of North America with 1,124 people registered at the start of the conference. The U.S. had the biggest representation with 455 registrants followed by Ireland at 195 who came not just...
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Banks Easily Surpass Credit Unions in Business Lending in Every Category
MADISON, Wis. - Looking at how credit unions stack up to banks when it comes to business lending, the statistics may blow the competition encroachment theory out of the water. In all 50 states, banks easily surpass credit unions in business lending in almost every category, according to data compiled...
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WOCCU Presents Vatican with Distinguished Service Award
ROME, Italy - A delegation from the World Council of Credit Unions visited the Vatican to present the Catholic Church with WOCCU's Distinguished Service Award for their work in developing credit unions in impoverished areas. The nuns and priests in developing countries have done much to promote credit unions against...
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Bankers Systems Partners with Salem Associates
ST. CLOUD, Minn. - Bankers Systems has partnered with Salem Associates to bring expanded business lending documentation to credit unions. Norcoss, Ga.-based Salem Associates, an IT technology firm, now offers its credit union clients that utilize its Lending Automation and Processing System (LAPSr) an interface to Bankers Systems' Rembrandtr Lending...
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New SBA Deputy Administrator Stephen Galvan Serving in "Acting," Role but Very Familiar with What's at Stake for Credit Unions
WASHINGTON - Stephan Galvan was already very familiar with the inner workings of the U.S. Small Business Administration when President Bush recently appointed him acting deputy administrator. Galvan has been with the agency since 2004 serving in high-profile roles as chief of staff and chief operating officer. He will continue...
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State Policies Directly Affect Business Start-Ups, Closures, Study Says
WASHINGTON - Entrepreneurs make decisions about starting and closing businesses based not only on conditions in their current location, but on conditions in neighboring states. Those conditions can include bankruptcy exemptions, access to health insurance and unemployment programs, according to a new study for the SBA's Office of Advocacy. Some...
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Miami Firefighters FCU Launches Business Lending Services
MIAMI - The nature of a typical firefighter's schedule tends to lend itself to having some extra time to launch a small business on the side. With most firefighters working three days on then having two days off, starting a business is just what some of the members of $61...
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McVeigh Says There's a Tsunami Every Day
ROME, Italy - "There's a tsunami every day." With these words Bobby McVeigh, Chairman of WOCCU opened the 2005 World Credit Union Conference in Rome. He wasn't referring to waves of water, but the 50,000 people that die of starvation every week all over the world. He challenged the attendees...
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More Texas CUs in Spotlight for Business Lending Strides
SAN ANTONIO, Texas - Several Texas credit unions were recently profiled for their member business lending strides. Security Service FCU and Randolph-Brooks FCU's MBL programs were parts of a bigger story in the July 22 San Antonio Business Journal on competing with community banks. The $3.8 billion SSFCU has 17...
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Top 28 Credit Unions in Member Business Loans Outstanding as of March 31, 2005 for credit unions over $50 million in assets
Top 28 Credit Unions in Member Business Loans Outstanding as of March 31, 2005 for credit unions over $50 million in assets
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Crear Makes First Major Appearance as WOCCU's Top Exec
ROME, Italy -Pete Crear introduced himself to the World Council of Credit Union's members by giving them a "35-day report", the length of time he has been on the job as CEO. Some 1,100-plus delegates from 41 countries listened as he told a bit about his history in the movement...
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NCRC Focused on CU CRA
Learn about NCRC's plan to bring CUs under CRA. Page 6.
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A Tale of Taxation in Three Countries: the U.S., Ireland and Poland
ROME, Italy - Poland, Ireland and the United States have very different experiences with taxation issues and at the same time there is a similarity. In a presentation at the 2005 Rome WOCCU World Conference Gryegorz Bierecki, WOCCU Director and head of the National Association of Cooperative Savings and Credit...
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Chatfield Fund Announced
ROME, Italy - The David Chatfield International Training Fund was announced by the California and Nevada Credit Union Leagues conference as a tribute to his work in national and international movements. It will be administered by the WOCCU and will support development training programs for credit union personnel around the...
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Special Report: MBLs/Small Business
See how credit unions around the country compare to banks with business service penetration, and catch up on other CU business news in the special report on pages 22-28.
News Briefs
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NAFCU Brings in Financial Services Movers and Shakers for Caucus
ARLINGTON, Va.-NAFCU is proceeding on toward a clean sweep of financial services leaders in the House for its 2005 Congressional Caucus slated for Sept. 18-21. NAFCU Director of Political Affairs Murray Chanow recently announced that House Financial Services Committee Chairman Mike Oxley (R-Ohio), Financial Institutions and Consumer Credit Subcommittee Ranking...
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Shell Employees FCU Changes Name to People's Trust FCU
HOUSTON - Shell Employees FCU has broken away from a 70-year old link. The $300 million CU has changed its name to People's Trust Federal Credit Union. It also recently expanded its membership to residents of the city of Houston. "The credit union is proud of its long association with...
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NCUA Greets Fall with Two Economic Empowerment Summits
ALEXANDRIA, Va.-NCUA Chairman JoAnn Johnson has announced two Access Across America Economic Empowerment Summits so far for this fall. NCUA will be hosting one of these free, one-day events in Nashville, Tenn. on Sept. 20. Credit unions from Alabama, Florida, Georgia, Indiana, Kentucky, Mississippi, North Carolina, Puerto Rico, Ohio, South...
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TNB CUs Heading to STAR
DALLAS - The credit unions that process their credit card services with TNB Card Services have been able to move their debit processing to First Data's STAR Network since May 31, when the credit union-owned bank announced the platform's availability. Now the card processing firm has announced the first five...
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CORRECTIONS
* A story in the July 13 issue, "Overseas Branches Serve USA Federal's Key Military Market" featured the wrong logo for the credit union. This is USA FCU's correct logo. * In a listing of partners of the Callahan Credit Union Financial Services Limited Partnership in the July 13 issue,...
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Senate Banking Hears from Six Financial Services Nominees, Hood Still Waiting
WASHINGTON-The Senate Banking Committee, chaired by Senator Richard Shelby (R-Ala.), took the bulk of the day July 26 for hearings on presidential nominees to various positions in government. John C. Dugan had been nominated to head up the Office of the Comptroller of the Currency. Federal Deposit Insurance Corporation Vice...
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Senate Appropriations Clears CDFI, CDRLF, CLF Funding
WASHINGTON-The Senate Appropriations Committee has approved funding for NCUA's low-income grant program and Central Liquidity Facility, as well as Treasury's Community Development Financial Institutions Fund Program. On July 21, the committee approved $950,000 for Community Development Revolving Loan Fund grants, as NCUA had requested. The agency has two years to...
Marketing
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American 1 FCU Safety Fair Largest Event for Credit Union
JACKSON, Mich. - American 1 Federal Credit Union's recent safety focused events has attracted over 7,000 attendees. Held over three weeks in June, each Wednesday American 1 held a kids day, where companies, fire and police departments, and organizations presented health and safety information via interactive and educational booths. This...
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United Consumers CU Gets Creative with Member Appreciation
INDEPENDENCE, Mio. - For United Consumers Credit Union nothing says thanks like Member Appreciation Days held at its branches. "We know our members have many choices when it comes to taking care of their personal finances," said UCCU President/CEO Chris McCreary. "Member Appreciation Day is just a small token of...
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US Federal Credit Union Helps Residents Relive the Old West
NORTHFIELD, Minn. - Thanks to U.S. Federal Credit Union, a new band of cowboys will ride into town here as part of an annual "Defeat of Jesse James Days" event. Slated for September 10, the event celebrates when citizens of Northfield foiled a robbery attempt by Jesse James and his...
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HCU Counts on Yellow to Reach Memebers
MADISON, Wis. - Heritage Credit Union (HCU) has a new mascot and it is "Yellow Dude". "We are not a one-size-fits-all financial institution and we have a personality that makes our members feel comfortable coming to us for their financial needs. Yellow Dude will help us promote that mentality to...
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Travis Credit Union, Solano Thunderbirds Gear Up for Summer Fun
VACAVILLE, Calif. - Travis Credit Union wants to make sure residents here have 43 nights of family fun at Travis Credit Union Park. Travis CU's season-long sponsorship with Collegiate League's Solano Thunderbirds began with the first pitch thrown by Travis CU Board Chairman Stuart McIntosh followed by former A's pitcher...
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Paragon Federal Offers "Market Wednesdays"
MONTVALE, N.J. - With an atrium located in the center courtyard of its 100,000 square-foot headquarters, Paragon Federal Credit Union has launched "Market Wednesdays." The first Wednesday of every month, visitors enjoy free lunch, live music and unique shopping from local artisans and merchants selling items such as handmade crafts,...
Letters to the editor
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Woodstock is Not a Foe of Credit Unions
The story on the difference between credit cards issued by banks and those issued by credit unions in the July 13 issue was a clear exposition of the Woodstock Institute study on this subject. Terms and conditions are much clearer and hence fairer for cards issued by credit unions. But...
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Kudos, There Certainly is a lot of Young Talent out There
I wanted to congratulate Credit Union Times on recognizing some of the young talent that work within our industry in Paul Gentile's story on CEOs under 40 in the July 13 issue. As an under-40 president/CEO, I believe my peer group has significant talent within the credit union movement that...
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Now Welch is a Mind Reader?
Having been present when Debbie Matz made her statement, "Community Development Credit Unions represent not only the past but the future of credit unions," I want to do as Mike Welch did in his July 6 column and read her mind: She was referring to philosophy, a broader term than...
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Sir, CUNA is "Not out of Bounds"
I disagree with the viewpoint of Wally Murray in his letter to the editor in the July 20, 2005 issue. I do think that CUNA and our leagues need to prepare and adopt a conversion policy for credit unions converting to another type of financial institution. The policy statement is...
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Thanks for Bringing Back the Memories
Many thanks for the profile of me included in your look at past NCUA Board members in the July 13 issue, and for including the handsome portrait (color photography had not yet been invented when that one was taken!). July 13 was my mother's 93rd birthday - I expect reading...
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Welch Nailed the Conversion Issue
Thanks to Mike Welch for highlighting this bank conversion issue in his July 13 column. His comments are spot on. It's a very simple equation - follow the money. Keep ringing that bell - maybe some directors will get the message. I know the same process is occurring in other...
Publisher's Column
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There Are Some Things CUs Can Do Without
There are so many things credit unions want and need. Getting them is what keeps the individual credit unions and the dozens of credit union groups, especially the CU trade associations, running at top speed. But there are some things credit unions could do without. For example, every time I...
Voting Poll
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New Voting Poll: Should Volunteers Have More Representation on CU Trade Association Boards?
WEST PALM BEACH, Fla. - At NAFCU's recent Annual Conference and Exhibition an old argument surfaced that still riles up emotions. That is whether credit union volunteers, who are often touted by trade associations as one of the industry's distinguishing characteristics, should have more representation on trade association boards. Often...
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Voting Poll Results: NCUA Came Down too Hard on Community for Disclosure Violation
WEST PALM BEACH, Fla. - According to respondents of Credit Union Times' just expired voting poll, NCUA was too strict in throwing out Community CU's charter conversion vote over improper folding of the disclosure documents. In overwhelming fashion, almost 80% said the agency was too strict, while 17% said they...
Opinions
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Business Deposits: Mining for Gold.and Finding It!
It seems that for the majority of credit unions entering into business services, most of the emphasis is being placed on business loans. A small business loan can be a big "chunk of gold" that is easy to mine. However, a profitable business deposit package should not be overlooked, even...
Staking Out the Stats
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Staking Out the Stats
As credit unions court Hispanic members, here's one study they need to pay attention to. According to the third annual AOL/Roper U.S. Hispanic Cyberstudy, a growing number of Hispanics are comfortable going online for everything from information gathering to downloading music. Hispanics now turn to the Internet to learn more...
People
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WEST
Dupaco Community Credit Union, Dubuque, Iowa, has named Kelly Newton mortgage consultant. Global Credit Union, Spokane, Wash., has named Kevin Bacon commercial loan officer. High Desert Federal Credit Union, Apple Valley, Calif., has appointed Frank J. Cunningham chief operations officer. Meriwest Credit Union, San Jose, has named Maria Sanchez assistant...
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MIDWEST
Massillon Area Credit Union, Ohio, has named Howard A. Wacker Wales Square branch manager. Prairie Trail Credit Union, Joliet, Ill., has named Vanessa Vercimak branch manager/business development; Sybil Gibson Frankfort branch supervisor; and Teresa Salyer Plainfield branch supervisor.
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SOUTH
CFE Federal Credit Union, Orlando, has named Brian Hartwigsen senior vice president of lending. Louisiana Credit Union League, Harahan, has elected the following officers to its board: Glen Beard chairman; Charles Kramer first vice-chairman; Virgil Allen second vice-chairman; Anna Grado treasurer; and Bobby Major Jr. secretary. In addition the following...
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EAST
Franklin Mint Federal Credit Union, Broomhall, Pa., has promoted Cindy Wanamaker to chief operating officer. In addition, FMFCU Community Relations Manager Richard Elam has been elected president of the Chester Rotary. Empire Corporate Federal Credit Union, Albany, N.Y., has named Matthew J. Behar financial analyst at its CUSO MemberTrade Advisory...
Resource Center
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