Credit Union Times Magazine August-10, 2005

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

Letters to the editor

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...

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