Credit Union Times Magazine August-10, 2005

  • CUNA, Diebold Partner for RiskWatch

    NORTH CANTON, Ohio - CUNA Strategic Services, Inc. and Diebold, Incorporated have teamed up to jointly market a comprehensive security software program to credit unions called "RiskWatch for Financial Institutions." The risk assessment tool is designed to help credit unions better safeguard consumers' personal financial information. It was developed to...

  • NCUA Chairman, HealthAmerica Credit Union President/CEO Talk up HSAs

    JACKSONVILLE, Fla. - NCUA Chairman JoAnn Johnson chatted with HealthAmerica Credit Union President/CEO Maury Pilver during a surprise visit on August 2. "We learned of the chairman's visit only that morning so it was a great surprise and we're pleased to have her visit and tour the office," said Pilver....

  • CUNA and NAFCU Weigh In

    WASHINGTON - NCUA was not the only one defending its charter change regulations. CUNA and NAFCU joined in as well. In a 27-page "friend of the court" brief, lawyers for the two trade associations defended NCUA's mandated boxed disclosure statements point by point, and explained why each one should be...

  • The New Maryland and District of Columbia Credit Union Association Board at a Glance

    Now that the affiliated credit unions of the Maryland and D.C. Credit Union Leagues have approved the merger of the two groups and the formation of the Maryland and District of Columbia Credit Union Association, work has begun to forming the board of the new association to be seated by...

  • U.S. Central CEO Dan Kampen Resigns

    LENEXA, Kansas - U.S. Central CEO Dan Kampen resigned on Aug. 3, effective that day. U.S. Central's SVP of Asset Liability Dave Dickens was named interim CEO. A three-person search committee made up of U.S. Central Board members has been formed to find Kampen's successor. It includes Mid-Atlantic Corporate FCU...

  • Bringing the Emphasis Back to Business Deposits is Core Mission of Newly-Launched CU Business Capital, LLC

    MIRAMAR, Fla. - CU Business Capital, LLC is on a mission to bring the focus back to business deposit services and cash management. The entity is the nearly month-old CUSO formed through the $1.8 billion Eastern Financial Florida Credit Union. The CUSO will offer such solutions as technology, while working...

  • Banks Applaud Introduction of Deposit Insurance Reform Bill in Senate

    WASHINGTON-Senators Michael Enzi (R-Wyo.) and Tim Johnson (D-S.D.) introduced deposit insurance reform legislation July 29, which some are calling the best shot the legislation has had at becoming law in several years. The Federal Deposit Insurance Reform Act of 2005 (S. 1562) does not include the coverage increase to $130,000...

  • Hike The Hill Schedule

    April TX - April 18-20 UT - April 25-28 May SC - May 10-12 NC - May 11-12 AR - May 18 KY - May 24-25 June CA/NV - June 7-8 MN - June 7-9 MI - June 8-9 TN - June 8-9 OH - June 9 ME - June...

  • eCU Offers New Interface Between Symitar and loanliner.com

    HARRISBURG, Pa. - eCU Technologies' newest software offering is a middleware module that connects the Symitar loan origination system to a familiar face at credit unions across the country: CUNA Mutual's loanliner.com online loan processing system. The integration software enables seamless connectivity between Symitar's flagship Episys platform, the core processor's...

  • ICBA-Backed Community Bank Bill Introduced in Senate

    WASHINGTON-Three Republican Senators introduced a bill prior to the congressional August recess to provide regulatory and tax relief for community banks. Senator Sam Brownback (S-Kan.), James Inhofe (R-Okla.), and Pat Roberts (R-Kan.), introduced the Community Banks Serving Their Communities First Act (S. 1568) at the end of July. The Independent...

  • Seattle Metropolitan CU Named Best Company to Work for Again

    SEATTLE - For the second consecutive year, Seattle Metropolitan Credit Union has been recognized as one of Washington CEO's best companies to work for. The Seattle-based magazine conducts its "Best Companies to Work For" survey annually with nominations made by companies themselves and their employees. SMCU employees had a chance...

  • Greater Nevada CU to Co-Sponsor Business Expo

    CARSON CITY, Nev. - Greater Nevada Credit Union is one of several sponsors of an annual expo here that provides business assistance and economic analysis to Northern Nevadans. The Northern Nevada Development Authority's 2005 Business and Tech Expo will take place Oct. 6. Event officials are expecting up to 1,000...

  • NACUSO Holds First CUSO CEO Collaborative Conference

    NEWPORT BEACH, Calif. - NACUSO is planning to hold its first CUSO CEO Collaborative Conference Sept. 19-21. The two-day event, co-hosted by U.S. Central and CommunityAmerica CUSO One LLC, will be held at the Corporate's and subsidiaries' headquarters in Kansas City. According to a release on the conference, it is...

  • Women, Minority-Owned Businesses Outpacing National Average

    WASHINGTON - Women and minority groups are becoming business owners much faster than the national average, according to the U. S. Census Bureau. From a just-released report, Preliminary Estimates of Business Ownership by Gender, Hispanic or Latino Origin, and Race: 2002 Survey of Business Owners, the number of all U.S....

  • Manzullo Introduces Venture Capital Fund to Offset SBA's Program

    WASHINGTON - House Small Business Committee Chairman Don Manzullo (R-Ill.) has introduced legislation to create a new venture capital program under the SBA to stimulate equity investment in America's small businesses and create jobs. The SBIC Participating Debenture Act of 2005 (H.R. 3429), introduced July 26, would create the new...

  • Centrix Puts Dealers on Alert Following NCUA Sub-prime Indirect Lending Risk Alert Letter

    CENTENNIAL, Colo. - While it's yet to be determined whether credit unions involved in third-party subprime indirect lending have implemented controls and practices to mitigate the risk of the product, as NCUA is expecting them to do, at least one subprime indirect lending vendor that does business with credit unions...

  • Coastal FCU's Investment Program Change Nets Larger Staff, New Advisory Center, Dual-Employee Arrangement

    CHICAGO - The timing seemed right for Coastal Federal Credit Union to make some long-term adjustments to its investment services program. The $1.5 billion credit union recently went from a managed to a dual-employee arrangement under CUNA Mutual Group's MEMBERS Financial Services program. The announcement was made at CUNA Mutual's...

  • Reg Relief Legislation Overlooks Risk-based Capital Framework for Credit Unions

    WASHINGTON-The regulatory relief legislation introduced by Congressman Jeb Hensarling (R-Texas) at the end of last month, aimed at providing regulator relief to the financial services sector, did not include a provision to modernize credit unions' capital system. NCUA Chairman JoAnn Johnson's risk-based capital proposal did not make the cut into...

  • Publications Nationwide Recognizing CU Growth

    BOSTON AND KANSAS CITY, Mo.-Major publications from Boston and Kansas City, Mo. published articles recently citing credit union growth, which they attribute to bank mergers and credit union structure and philosophy. The Boston Globe noted in a July 28 article Community Credit Union's opening of a new branch to attract...

  • Nine Confirmed to Financial Services Positions, One Nominated

    WASHINGTON-Several financial services nominations flew through the confirmation process prior to the Congress' August recess, but NCUA nominee Rodney Hood's confirmation is still waiting in the wings. Hood was nominated May 10 for the seat formerly occupied by then-NCUA Chairman Dennis Dollar. Dollar vacated the seat more than a year...

  • NCUA Argues Community's Case Does Not Merit Injunctive Relief; Says CU Ignored Its Authority

    SHERMAN, Texas - In filings before the Federal Circuit Court which will decide its ongoing legal battle with the $1.4 Community CU and $1.1 billion OmniAmerican CU, NCUA both attacked the Community CU's assertions that it had acted improperly in promulgating its charter change disclosure regulations and defended those regulations...

  • The Core of the Case

    But the heart of the agency's argument came in the assertion that, as a Federal agency, it merits a high degree of deference in judicial opinions and judgments and that the credit unions cannot meet that standard. "CCU's challenge to NCUA's promulgation and implementation of its regulations and to NCUA's...

  • Three-Way Merger in Oregon Takes Effect and Oregonians Credit Union is Born

    PORTLAND, Ore. - In a rare combination, three Portland area credit unions have merged, giving up federal and community charters in the process while citing management succession and product delivery as factors in the decision to consolidate into the newly named Oregonians CU. "We felt this kind of a merger...

  • Walls Settling into New Jersey League President's Office, Sets Priorities for Himself, League

    HIGHTSTOWN, N.J. - Bob Walls may be the new kid on the block at the New Jersey Credit Union League, but the former president/CEO of the Delaware Credit Union League is wasting no time setting his priorities and getting to work on them. At press time, the 57-year old Walls...

  • Two Sign On to CURIA Prior to Recess

    WASHINGTON-Through the end of July, the Credit Union Regulatory Improvements Act (H.R. 2317) continued to steadily add to its long list of co-sponsors running up to the August district work period. Representatives Louise McIntosh Slaughter (D-N.Y.) and Frank Pallone (D-N.J.) signed on to support the bill July 28. Both had...

  • Navy Federal Expands Call Center Operations

    PENSACOLA, Fla. - As proof that if you build it they will come, Navy Federal Credit Union has announced that it will be expanding its call center operations here. The $23 billion credit union opened its first remote call center here in November 2003 and the 56,000 square-foot facility is...

  • NASCUS: Leave Issue of Nondeposit Investment Product Sales to State Regulators for Certain Credit Unions

    ALEXANDRIA, Va. - State-chartered, federally-insured credit unions should be exempt from NCUA's proposal regarding the sales of nondeposit investment products, NASCUS said. While NCUA intends its Proposed Interpretive Ruling and Policy Statement No. 05-1 to help credit unions conduct third-party brokerage activities in a manner that is legal, protects members...

  • CUNA Mutual Risk Management Specialist calls NCUA Indirect Lending Risk Alert Letter "Timely"

    MADISON, Wis. - Not only does Brad Mundine think NCUA's Risk Alert Letter issued in June requiring federally insured credit unions to implement risk controls concerning third-party subprime indirect lending activities to be timely, he asserts the Risk Alert Letter "raised appropriate concerns given more credit unions are vying for...

  • Empire Corporate in Action; a Look Inside the Walls of the Fast-Paced Corporate Environment

    ALBANY, N.Y. - The $4.9 billion Empire Corporate FCU is located in a quiet, almost sleepy part of Albany, N.Y. The modest Albany airport is a few miles down the road and Empire itself is situated in a predominantly residential area. But once inside the offices of 1021 Watervliet-Shaker road,...

  • IRS Throws FCUs for a Loop with Unexpected Aug. 15 457b Plan Deadline

    WASHINGTON - The IRS is not budging on an August 15 deadline it gave to FCUs to have a 457b plan in place. "The notice that was put out by the IRS still stands," said Bruce Friedland, an IRS spokesman. Seemingly out of the blue, the IRS issued notice 2005-58...

  • NAFCU HR Director Receives Senior Professional Certification

    WASHINGTON - NAFCU Director of Human Resources and Administration Scott Brown has recently been certified as a senior professional in human resources by the Human Resources Certification Institute. Brown began preparing for the exam last summer and successfully took the SPHR examination in November 2004. The exam is a rigorous,...

  • Maryland, D.C. Credit Unions Approve Historic Merger

    COLUMBIA, Md. - Starting Jan. 1, 2006, Maryland and District of Columbia Credit Unions will be represented by their new trade association, the Maryland and District of Columbia Credit Union Association. In the first-of-its-kind merger in the country, affiliated credit unions of the Maryland and D.C. Credit Union Leagues voted...

  • Technical Problem Closes OmniAmerican CU

    DALLAS - Some sort of technical or computer problem has forced the $1.1 billion OmniAmerican CU to close some of its 16 branches and shut down its ATMs, according to press reports. The problem began late July 28 or early July 29 according to press reports. Calls to a CU...

  • NAFCU Concurs, More Broader Guidance Needed Before 457b August 15 Deadline

    ARLINGTON, Va. - During a recent phone conversation with IRS officials, Carrie Hunt, NAFCU Associate Director of Regulatory Affairs, was told that "it could be quite some time before the IRS issues guidance on nonqualified deferred compensation plans or Section 414(d) of the Internal Revenue Code. In an Aug. 3...

  • Tennessee DFI Re-accredited by NASCUS

    ARLINGTON, Va. - The Tennessee Department of Financial Institutions earned its second five-year re-accreditation by NASCUS. The state regulatory agency was first accredited in 1995 and earned its first five-year re-accreditation in 2000. Accreditation is valid for a five-year period, subject to an annual review process that enables the accredited...

  • Pennsylvania Bankers Take Second Stab at CU Community Charters

    HARRISBURG, Pa. - Using what basically amounts to stall tactics, the Pennsylvania Bankers Association, the Pennsylvania Association of Community Bankers and two member banks have filed a petition in Pennsylvania's Commonwealth Court challenging another credit union conversion to community charter. The focus of this latest lawsuit is Belco Community Credit...

  • CUNA Customizes Learning Tracks for Future Forum Attendees

    SAN FRANCISCO-Aiming to steer participants of CUNA's 2005 Future Forum in the right direction, CUNA has created seven customized learning tracks. These tracks range from marketing to lending to community charters and each has at least five breakout sessions. Attendees will learn about anything from growing consumer loans to hot...

  • CUs Look to the Needs of their Membership

    ARLINGTON, Va.-In its most recent Flash Report survey, NAFCU found that credit unions use demographics to get the most-and give the most back to-their fields of membership. According to the Flash, 62% of respondents said they offer special products and services targeting their more senior members. More than a third...

  • MasterCard's 2005 Continues Strong

    PURCHASE, N.Y. - MasterCard International announced that it continues to have a strong, posting double digit growth in both gross dollar volume and gross purchase volume, indicating both that cardholders around the globe have been both purchasing more with MasterCard and using their MasterCard's more often. However, the American market...

  • CO-OP Network a Hit with New York Area CUs

    ONTARIO, Calif. - Eighty credit unions in the New York area have joined CO-OP Network since 2004, including recent additions the $1.9 billion Hudson Valley Federal Credit Union and $531 million AmeriCU Credit Union. "Each of the credit unions participated in our network through Card Services, an affiliate of the...

  • Charter Change Coalition Lobbying CURIA Sponsors

    WASHINGTON - The Coalition for Credit Union Charter Choice, the banker advised group that seeks to make it easier for credit unions to change their charters to those of mutual banks, has written a letter to all the CURIA co-sponsors to try to convince them not to back the part...

  • Insight Financial Rolls out New Business Account Services

    ORLANDO, Fla. - Insight Financial Credit Union is courting small business owners with a new checking account that features a no minimum balance requirement feature. The $394 million credit union said the account also includes other features such as a free business debit card the Visa Extras rewards program for...

  • Park Community FCU Poised to Merge Following CEO's Retirement

    LOUISVILLE, Ky. - Park Community FCU has announced its intent to merger with B&W FCU more than a month after its long-time president/CEO, R.L. Mattingly, retired. Mattingly retired after 18 years at the helm succeeded on June 27 by Jim Oliva who had previously served as CEO of $82 million...

  • Treasury to Bring Back 30-Year Bond

    WASHINGTON - After a nearly four-year absence, the 30-year Treasury Bond will be making a comeback. President Bush announced on Aug. 3 that bringing back the bond may help finance the nation's debt while appealing to investors who need a supposedly safer and longer-term investment alternative. The Treasury Department said...

  • Financial 21 Community CU Works to Make a Difference

    SAN DIEGO - When it comes to raising money for a good cause, Financial 21 Community Credit Union is always ready to step in. The credit union recently raised $11, 500 for the local Children's Hospital here during its Miracle Month campaign. In addition to selling campaign balloons, Financial 21...

News

  • CU Directors Just One Slice of Sponsor Business

    LAS VEGAS - The care and feeding of credit union directors has come to be a nice chunk of business for United Communications Group, of Rockville, Md., the sponsor of the National Directors' Convention here. Indeed, the, 28th annual convention held in Las Vegas over the last seven years and...

  • SunCorp Narrowing CEO List

    ARVADA, Colo. - SunCorp said it is winding down its executive search process. The corporate is attempting to fill its vacant CEO slot after CEO Eric Kenealy was terminated earlier this year. Details surrounding the termination were scarce, but the corporate maintains it was not the result of any fraud...

  • U.S. Central Hires New Director of Communications

    LENEXA, Kan. - U.S. Central has named Jill Stockham as its new director of communications. Stockham replaces Roger Dick, who is no longer with U.S. Central. Stockham has a banking background. She most recently came from UMB Bank, a $7.2 billion bank located in Kansas City, Missouri.

  • WesCorp Gearing Up to be Longterm Provider of Item Processing

    SAN DIMAS, Calif. - Yes the number of checks being written continues to decline, but not WesCorp's item processing volume. The corporate has been able to increase volume by picking up business in new markets such as Utah and acquiring a few smaller item processing shops in California. WesCorp SVP...

  • CUNA Mutual Certainly Not an Automatic Choice for Corporates' Bond Insurance Any More

    MADISON, Wis. - In recent years a number of corporate credit unions have moved their bond insurance away from CUNA Mutual and into the hands of other insurance companies. It's a fact that worries CUNA Mutual CEO Jeff Post. "I think that corporates are kind of voting with their feet....

  • Loan Growth Down Slightly from Last Year, Savings Way Off

    WASHINGTON-Credit union loan growth in the first half of the year is somewhat below last year's figures, but savings growth has dropped significantly from the first half of 2004. Year-to-date loan growth through June was 4.8%, down from 5.1% for the same period in 2004, according to CUNA's Monthly Credit...

  • Special Report: Corporates

    Corporates are still gearing up for image exchange. Read about that and other corporate CU news in the special report on pages 22-30.

  • Southwest's Economic Forum Set

    DALLAS - Southwest Corporate's 28th Annual Economic Forum -New Thinking for A New Economy - is set for Oct. 26-27th at the Westin Galleria in Dallas. It features a number of experts and economic leaders including the following: *Peter Ricchiuti-Assistant Dean of Tulane University's business school. *Bill Hampel-Chief Economist for...

  • Fouch Celebrates One-Year Anniversary Leading Corporate Central CU

    HALES CORNER, Wis. - This July marked Bob Fouch's one-year mark as CEO of Corporate Central CU, but Fouch is no newcomer. He's been with the corporate for 15 years, so what's different now? "I'm in a position to change course, change directions a little bit, be more entrepreneurial," he...

  • Constitution Members Give Nod to Federal Charter

    WALLINGFORD, Conn.- Constitution State Corporate Credit Union, Inc. members overwhelmingly approved the corporate's move to a federal charter, operating as .Constitution Corporate Federal Credit Union. According to the corporate 96% of members who voted were in favor of the change. Members had 45 days to send in mail ballots. There...

  • Q&A Session Focuses on Director Best Practices

    LAS VEGAS - From the size of credit union boards to barring CEOs from private meetings, for three hours CU directors got a chance to share their `best practice' experiences in a rapid fire Q&A session during last week's National Directors Convention. In a warm-up conference workshop on the first...

  • Check 21 May Lead to Efficiencies at the ATM

    COLUMBUS, Ohio - The item processing advantages of Check 21 have been heralded for months now, but there could be other benefits. At Corporate One Federal Credit Union's ATM Users Conference held recently, one payment systems exec pointed out ATM efficiencies as another major benefit of Check 21. Peg Bost,...

  • Iowa Corporate Re-Elects Directors

    DES MOINE, Iowa - The Iowa Corporate Central Credit Union re-elected four of its nine directors at its annual meeting. Monte Berg, Senior Vice President of Finance, John Deere Community Credit Union in Waterloo, has served on the Iowa Corporate board for nine years. He will serve his fourth three-year...

  • Low Member Data Puzzles Dollar

    LAS VEGAS - Like others in the movement, former NCUA Chairman Dennis Dollar is expressing puzzlement at the stagnancy in membership growth of U.S. credit unions-a miniscule 1.4% increase in 2004 -despite more branches "and access points." Addressing a throng of 1,400 credit union directors at the opening general session...

  • Directors Conference Hears of D.C. `Horror' Tale

    LAS VEGAS - Robert Kravetz, chairman of the $56 million Dept. of Labor Federal Credit Union and a retired Washington, D.C. bureaucrat, knows all about "dysfunctional" CUs since he lived through the rescue of his own six years ago and earned top honors for it from the 2004 National Directors...

  • Corporate One Announces 2005 ALM Conference Speakers

    COLUMBUS, Ohio -Corporate One FCU has announced its lineup of speakers for its third annual Asset/Liability Management Conference scheduled for October 12-13, 2005 at the Hilton Columbus at Easton Hotel in Columbus, Ohio. The keynote speaker is Dr. Dale Henry of Your Best Unlimited, Inc. In 2000 alone, Henry presented...

  • WesCorp and RSM McGladrey Combine Conferences

    SAN DIMAS, Calif. - WesCorp and RSM McGladrey are combining their financial conferences. The two will jointly hold CU Outlook 2006, scheduled for September 19 at The Venetian in Las Vegas, Nevada. In addition to WesCorp's lineup, attendees will be offered two events hosted by RSM, an accounting session and...

  • Furious Feedback

    Credit Union Times' readers have a lot to say about a number of topics. From the CU-to-bank conversion controversy to volunteers playing a bigger role on trade association boards, read about it on pages 16 and 18.

In Other News

  • AWARDS

    HealthAmerica Credit Union, Jacksonville, Fla., has recently honored St. Vincent's Employees CU Manager Elizabeth Martinez for her quick thinking. Martinez spoiled the plot on two different occasions for crooks attempting to forge checks on two separate member accounts. In both cases, her instinct told her something wasn't right and upon...

  • DONATIONS

    Saugus Federal Credit Union, Mass., has raised $10,000 for the Children's Miracle Hospital of Boston. The donation for the Credit Unions of Massachusetts Kids at Heart program represents the proceeds from a recent Scavenger Hunt fundraiser involving SFCU staff, directors, members, local officials and residents. The winning purple scavenger hunt...

Marketing

  • nuVision Financial FCU "Delivers" Brand Message

    HUNTINGTON BEACH, Calif. -nuVision Financial Federal Credit Union is hitting the streets with a tribute to its Surf City roots. A 2005 Honda Element wrapped with messages about the credit union's auto loans and free checking products and a surfboard mounted to the roof stands out as it tools around...

  • HarborOne CU Plays up the "Advantage"

    BROCKTON, Mass. - HarborOne Credit Union is pushing the HarborOne Advantage as a way to draw in more members. Launched in June, the HarborOne Advantage is an initiative developed to identify exactly what members would like to find at the $1.2 billion credit union. Staffers worked in teams for over...

  • PEFCU Finds Spokesman Success with NFL's Drew Brees

    WEST LAFAYETTE, Ind. - For Purdue Employees Federal Credit Union tapping former Purdue University quarterback and current NFL Quarterback Drew Brees as a spokesman has been a great partnership. Serving as a spokesman since 2001, Brees has been an active credit union member since he was in college. "While Drew...

  • Tampa Bay Federal Hits the Ballpark

    TAMPA Fla. - Tampa Bay Federal Credit Union has teamed up with Minor League Baseball's Tampa Bay Yankees to host a Member Appreciation Night at Legends Field. Hundreds of credit union members came out with their family and friends. Prior to the game, Tampa Bay Federal hosted a barbeque dinner...

  • Springfield Teachers CU Simplifies Name

    SPRINGFIELD, Mass. - When it comes to image sometimes a small change can make a big difference. Springfield Teachers Credit Union is hoping that holds true as it changes its name to STCU Credit Union. According to STCU Credit Union Chairman Roland R. Joyal the switch was essential in marketing...

  • Orange County's CU Launches Sand Dollar Savings Club

    MISSION VIEJO, Calif. - What better way to celebrate the grand opening of Orange County's Credit Union's branch here than to launch a new youth program. The Sand Dollar Savings Club, designed for children ages 12 and under, features a free savings account, a free Club t-shirt, incentives for making...

  • California Coast Credit Union Honored for Education Support

    TEMECULA, Calif. - California Coast Credit Union has recently been presented the 2005 Business Hall of Fame Award by California State PTA's 23rd District-Riverside in recognition of its ongoing support of education. California Coast Community Relations Manager Lynn Laing accepted the award on behalf of the credit union during an...

Special Report

  • Verity Credit Union Updates its Look

    AUBURN, Wash. - Verity Credit Union is headed into the future with a branch here that plays up a friendly, neighborhood feel. Designed by Seattle-based Callison Architecture, Inc. to better connect with members and potential members alike, the 2,000 square-foot branch features several distinct retail zones based on specific services,...

  • AMOCO FCU Branch Strategy Hits Home

    LEAGUE CITY, Texas - For AMOCO Federal Credit Union home isn't just where the heart is but also where its branches can be found. According to AMOCO FCU Chairman Rusty Norman, the centrally located branch slated to open March 2006 will be in the heart of some 1,500 new homes...

  • SSFCU Grand Opening Pays Off

    Recent grand opening festivities at two new Security Service Federal Credit Union Service Centers has produced two very lucky winners.

Opinions

  • The Corporate CU Militia: On the March for Our Country's Security

    For the most part, the nation's 30 corporate credit unions operate behind the scenes, focusing on benefiting natural person credit unions in the way of investments, new products and services and technology. However, as September 11th, 2001 changed the world for most of us in many ways, it also altered...

Letters to the editor

  • Give Me a Break Herb, Members Still Lost Out in BUCS Conversion

    Editor's Introduction This letter to the editor by Truliant FCU CEO Marc Schaefer is in response to piece in the July 13 issue of Credit Union Times in which former BUCS FCU CEO and now BUCS Federal Bank CEO Herb Moltzan gave his first hand account of what he felt...

  • Associations Tout Volunteers in Showing CU Difference, but Shun on Board Representation

    As one of two volunteers who ran in this year's NAFCU election, I am a strong believer that in the movement the volunteers are an essential part of the system and should rightfully be better represented on trade association boards. The associations want our attendance at their conferences and our...

  • Next Generation of CEOs Ready and Willing

    I really enjoyed the article "The next Generation Of Credit Union CEO's Looks Just Fine" in the July 13 issue. Being a CEO under 40 it is nice to see how other CEOs received their opportunity. The article gave terrific insight to individuals aspiring to become a CEO. In my...

  • Volunteers Need to Work More With Each Other

    I agree that more volunteer representation on trade association boards would be great. It will make the volunteer better able to lead his credit union. The bigger issue is how to make volunteer leadership stronger in general. I think that volunteers need to be exposed to how other boards operate....

  • Directors Continue to be Shut Out

    Amen to Marlene Schwartz and Robert Scott for their comments about volunteers in the July 17 issue! Volunteer directors have become insignificant in recent years and they are only called upon when there is a rally on the Mall or a march on the Hill! As the saying goes, treat...

  • Members Have to Step up and be Counted

    Maybe we need to step back and look at the Community Credit Union conversion vote in a different light. The figure that keeps being repeated in the press is 71% of those Community members voting voted in favor of the conversion. Is it possible, however, that the true and more...

Publisher's Column

  • Why Not More Volunteers On National Boards?

    The flap that came out of the recent NAFCU Conference in Las Vegas regarding why there aren't more volunteers on national credit union organizations' boards is certainly nothing new. It comes up all the time. Whenever this touchy topic arises, some say that without a percentage of volunteer directors these...

Quotes Worth Quoting

  • Quotes Worth Quoting

    "Our posture on this bill has always been that as long as coverage is identical for accounts insured by the NCUSIF to FDIC that we don't care what the coverage level is, as long as it's equal, and it is indeed equal." - CUNA Vice President of Legislative Affairs and...

People

  • IN MEMORIAM

    Calcasier Federal Employees Credit Union, Lake Charles, La., has announced that President/CEO Gale Lebato has died at the age of 63. Lebato received the Louisiana Credit Union League's Professional of the Year award in July for her service as a credit union professional and tireless efforts and continuous work on...

  • MIDWEST

    Day Air Credit Union, Kettering, Ohio, has named Lisa Hughes business development specialist. Chaco Credit Union, Hamilton, Ohio, has named Matt Stolle chief financial officer. Affinity Plus Federal Credit Union, St. Paul, Minn., has promoted Brian Volkmann to director of real estate.

  • EAST

    New Hampshire Credit Union League, Marlborough, Mass, has elected St. Mary's Bank Credit Union President/CEO Ronald J. Rioux board chairman. Leominster Credit Union, Mass., has named Kevin DeNorscia business development manager.

  • WEST

    Global Credit Union, Spokane, Wash., has named Pamela K. Rogness mortgage loan officer. Matadors Community Credit Union, Chatsworth, Calif., has elected Phil Minah and Dennis DeYoung board directors. TruWest Credit Union, Tempe, Ariz., has elected the following officers to its board: Thomas E. Cummiskey, chairman; Jeff Homer, vice chairman; Daniel...

  • SOUTH

    United 1st Federal Credit Union, St. Marys, Ga., has promoted Kim Mitchell to manager of the Kingsland member service center and Gale Herring to team leader of the member service center in Wal-Mart.

In Memoriam

  • Members Flock to DATCU Shred Day

    DENTON, Texas - Members brought over 4,500 pounds of paper to DATCU's recent Shred Day. Wanting to provide another way for members to protect their identity the $360 million credit union offered to shred up to three boxes per member for free. In addition DATCU staffers provided curbside service taking...

  • Oklahoma CU Veteran, Central Oklahoma FCU President Stoll Dies

    DAVENPORT, Okla. - Max Stoll, a longtime member of the Oklahoma credit union family, died July 31 after a long battle with cancer. He was 62. Stoll spent over 17 years in the credit union movement. He was one of the chartering members of Central Oklahoma FCU which was chartered...

  • Washington League Gives $11,000 To Literacy

    FEDERAL WAY, Wash. - Credit union contributions to the state's Financial Literacy Public Private Partnership have totaled $16,000, the Washington Credit Union League announced last week. The League said it wrote a check for $11,000 to the state Superintendent of Public Instruction in voluntary donations with BECU contributing an additional...

News Briefs

  • Bankruptcy Filings Down in 12-Month Period Ending in March

    WASHINGTON-In the 12 months leading up to March 31, 2005, bankruptcy filings were down 3.9% compared to the same period ending in 2004. According to the Administrative Office of the U.S. Courts, the period ending March 31, 2005 saw 1,590,975 cases, while the earlier 12-month period saw 1,654,847 bankruptcy filings....

  • Senate Commerce Committee Reports ID Theft Bill Out Favorably

    WASHINGTON-The Senate Commerce Committee reported out the Identity Theft Protection Act (S. 1408) favorably July 28. The bill requires institutions to notify consumers when a data security breach has occurred that could reasonably result in identity theft. Institutions would also have to notify the Federal Trade Commission if more than...

  • McKechnie, Gose Promoted at CUNA

    WASHINGTON-CUNA promoted two of its senior staffers last week, Chief Operating Officer and Chief of Staff Richard McBride announced. John McKechnie, senior vice president of governmental affairs, was given the additional title of special assistant to the president, a new position for CUNA, to reflect his expanded role at CUNA...

  • Mills Comes out of Retirement to Join Centra CU

    COLUMBUS, Ind. - Jim Mills isn't retired just yet. The former NAFCU Chairman and CEO of Three Rivers FCU in Fort Wayne, Ind. has joined Centra Credit Union as Market President of the CU's southern Indiana operations. He will work out of the CU's Clarksville office. Mills led Three Rivers...

  • Newtek's Capital Company Raises $23 Million in Debt Offering

    NEW YORK - Wilshire Texas Partners I, the certified capital company for Newtek Business Services, Inc., announced on July 27 that it raised $23.4 million in certified capital through a debt offering. Newtek has more than 90 partnerships with credit unions, leagues and CUNA. Wilshire Texas Partners I raised a...

  • California and Nevada Leagues Partner with USA Today to Offer Financial Literacy Education to Area Schools

    RANCHO CUCAMONGA, Calif. - The California and Nevada Credit Union Leagues are partnering with USA Today to offer a customized financial literacy curriculum, created and co-branded by the Leagues and the paper's education department. Lesson plans will be delivered to 250 teachers at 50 high schools selected by the Leagues...

Tech Bytes

  • $12 Million Salmon Falls Community Credit Union Adds Cleared Check Viewing

    SOMERSWORTH, N.H. - Salmon Falls Community Credit Union now offers its 2,500 members one of the same services as a typical big credit union or bank. The $12 million institution now provides members free, unlimited online cleared check viewing and printing from its Web site at www.sfccu.org. SFCCU members who...

  • Symitar Adds 49 New Credit Union Clients in Past Fiscal Year

    MONETT, Mo. - Symitar added a total of 49 new credit unions to its client roster in the fiscal year ending June 30, corporate owner Jack Henry & Associates says. Those included 34 new Episys users and 15 new users of the Cruise platform for smaller credit unions. The company...

  • Fiserv Buys Electronic Bill Payment Specialist BillMatrix for $350 Million

    BROOKFIELD, Wis. - Fiserv Inc. has added to its array of electronic bill payment services with the acquisition of Dallas-based BillMatrix Corp., a provider of outsourced payment solutions to more than 120 utilities, telecommunications and insurance companies and lenders. Fiserv is paying approximately $350 million for privately held BillMatrix, which...

  • CUjobs.com Commits to Lance Armstrong Fight Against Cancer

    SAN DIEGO - CUjobs.com, an online job posting site for credit unions, is now donating 20% of its proceeds to the Lance Armstrong Foundation, the service's creator says. Launched in April, the site at www.cujobs.com provides job listings for executives, managers, lending positions, tellers, IT, marketers and vendors. Job postings...

  • Natural Language Recognition IVR Deployed at Day Air CU

    KETTERING, Ohio - Day Air Credit Union has deployed its new Telephone Teller service, an audio response system powered by Maxxar technology that uses natural language speech recognition and response. Members of the $135 million CU now can simply say "Day Air" into the phone and follow that with requests...

  • Survey on Internet Terms Shows Majority Don't Recognize Phishing

    WASHINGTON - Credit unions and the rest of the financial services world apparently have more work to do in terms of consumer education about online threats, especially phishing, according to a new survey. According to the Pew Internet & American Life Project, only 29% of Internet-using Americans say they "have...

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