Credit Union Times Magazine December-07, 2005

  • CU Direct to Present America's Credit Unions At NADA Convention

    RANCHO CUCAMONGA, Calif. - For the third straight year, CU Direct Corp. will present America's Credit Unions at the National Automobile Dealers Association (NADA) Convention. The largest event for automobile dealers in the U.S., NADA averages over 30,000 attendees each year at its annual convention, drawing attendance from about one-third...

  • Michigan SECU Hurricane Katrina Relief Efforts Raise over $100,000

    LANSING, Mich. - Members and employees of State Employees Credit Union made contributions to the SECU Hurricane Katrina Relief Fund totaling $20,304, which SECU matched, for a combined total of $40,608. Funds collected were divided between two programs: the American Red Cross and the National Credit Union Foundation. SECU also...

  • Wisconsin DFI Strengthens Discrimination Rule in Credit Transactions

    MADISON, Wis. - The state Department of Financial Institutions' Office of Consumer Affairs has adopted a new rule making it illegal for finance companies to charge higher interest rates based on race or a number of other customer characteristics. The rule takes effect Thursday, Dec. 1, 2005. At present, the...

  • CMG's The LoanLink Center Turns Three, Call Center to Make Product Announcements in Early 2006

    DALLAS - CUNA Mutual Group's LoanLink Center recently marked its third anniversary, and with that under its belt, the credit union-owned lending call center is already planning for its fourth year of service that will include several product and service announcements the company anticipates making in early 2006. Formed in...

  • CDCU Goes Out of its Way to See Those Other Financial Institutions Often Forget

    WICHITA, Kan. - Unlike most banks serving Wichita Kansas, the $2.1 million Communities United Credit Union does not stop listening or close the door if a member with a disability needs a loan. If anything, the credit union's staff sits up straighter and listens more closely because, even though it...

  • After 10 Years, Arrowhead Trust's Failure to Turn a Profit Forces Shutdown

    SAN BERNARDINO, Calif. - A 10-year run and a $300 million acquisition of a bank's retirement plan portfolio couldn't stem off several recent years of lackluster profits for Arrowhead Trust Inc., forcing the unit to begin the painstaking process of shutting down its operations. It recently took the first step...

  • Visa Reports Strong Card Use On Key Shopping Weekend

    SAN FRANCISCO - Visa USA has reported that consumers were actively using their credit and debit cards over the Thanksgiving weekend, improving over last year's card use during the same period. Visa said it experienced relatively strong spending on all Visa branded payment cards from Nov. 21 - 27 as...

  • More Americans Want Gift Cards Than Gifts, Survey Finds

    PURCHASE, N.Y. - In what is beginning to resemble an avalanche, yet another survey has appeared which testifies to the eagerness with which American consumers have welcomed pre-paid gift cards. A research firm hired by MasterCard conducted the survey among 3,000 consumers in October. The survey found that more consumers...

  • Emory FCU, Identity Theft 911 Team Up To Fight Fraud

    ATLANTA - Emory Federal Credit Union is joining other credit unions taking a proactive approach against identity theft and has teamed up with Identity Theft 911. The Identity Theft 911 resolution service includes a personal advocate who works with the victim every step of the way to resolve the crisis...

  • Credit Union Hurricane Relief Efforts are Ongoing

    WEST PALM BEACH, Fla. - Though the hurricanes that devastated the Gulf Coast and Florida are long gone, the devastation they left behind remains. That is why credit unions have not relented in their efforts to help those in need. Here is a look at just some of the relief...

  • CUNA Honors Matz' Retirement from Government Service

    WASHINGTON-CUNA held a luncheon last week in honor of Debbie Matz' retirement after more than 25 years of service in the federal government. Most recently, of course, Matz served on the NCUA Board from January 2002 through the end of this September. "It was really great to catch up and...

  • Credit Union Rallies Highlight Latest Element of Anti-Bank Campaign in California/Nevada Efforts

    ONTARIO, Calif. - Marking a new phase in building grassroots support for its anti-bank advocacy campaign, the California and Nevada Credit Union Leagues wound up a series of month long rallies here with new calls for credit union managers, employees, volunteers and members to "get more involved in the ground...

  • Second CU Rep Named to Fed's Thrift Council

    WASHINGTON-The Federal Reserve Board announced that five new members will join its Thrift Institutions Advisory Council, including another credit union representative. Visions Federal Credit Union (Endicott, N.Y.) President and CEO Frank E. Berrish was named one of the new members of the TIAC for a two-year term beginning Jan. 1,...

  • Credit Unions Shouldn't Abandon the Lost Art of Good Service

    LAS VEGAS - If you're old enough, you may remember the days when a gasoline station was a service station, with emphasis on the word "service." Attendants checked the oil, eyed the tires to make sure they were properly inflated, washed your windshield, and - oh yes - pumped the...

  • Polish and Slavic FCU May be on Track to Settle its Conflicts, But Still Has Number of Lawsuits Pending

    BROOKLYN, N.Y. - Although long-time credit union critics remain skeptical, there are signs that the $1 billion Polish and Slavic FCU may be on the verge of settling some of its long time conflicts. An institution which has become very well known to the Polish community in New York and...

  • New Jersey CUF Raises Over $60,000 for Disaster Relief

    HIGHTSTOWN, N.J. - The New Jersey Credit Union Foundation (NJCUF) has recently donated $60,982.55 on behalf of New Jersey's Credit Unions for hurricane relief and the National Credit Union Foundation's National Disaster Relief Fund - overreaching its initial goal by more than $10,000. "I am so proud of our credit...

  • NCUF Honors Cutter With Wegner Award

    WASHINGTON - The National Credit Union Foundation has named Dennis Cutter, CEO of the $533 billion Numerica Credit Union headquartered in Spokane, Washington, to receive the Herb Wegner Lifetime Achievement Award. "It's only fitting that during this time of Thanksgiving, we give thanks to Dennis Cutter for a lifetime of...

  • Washington League Advocates Exempting Credit Unions That Switch to State Charters From the Use Tax

    OLYMPIA, Wash. - The Washington Legislature may soon take up a tax issue that affects federal charters that convert to state charters. At issue is whether converting federal charters should pay back taxes on property. In the past, the state has said it needs the revenue from the special "use...

  • Three-Member NCUA Board Tackles 2006 Budget, OTR, Operating Fees

    ALEXANDRIA, Va.-For the first time since April 2004, the NCUA Board had its full complement of members serving. The agency wasted no time in throwing its newest board members into some of the touchiest issues the agency handles -NCUA's budget, the overhead transfer rate, and operating fees. The November meeting...

  • `Riggs Bank Rule' Effective Dec. 17

    ALEXANDRIA, Va.-NCUA, in line with the other federal banking regulators, approved a rule restricting credit union examiners' post-employment opportunities to avoid appearances of or actual impropriety. The NCUA Board voted unanimously to approve the so-called "Riggs Bank Rule," which prohibits credit union examiners from going to work for the institutions...

  • NCUA Clarifies `Wages and Salaries' Don't Fall Under Deferred Compensation Category

    ALEXANDRIA, Va. - NCUA recently clarified which categories fall under deferred compensation as they relate to involuntary liquidations. At issue was a request from Lawrence G. Gallagher, a Chicago-based attorney, who sought clarification on payout priority of deferred compensation claims in involuntary liquidations. Gallagher asked if deferred compensation constitutes "wages...

  • CUNA Mutual Will go Outside Credit Union Industry for Business if it Benefits the Company and Credit Unions

    MADISON, Wis. - CUNA Mutual has been in the headlines for laying off over 400 people in the last few months. CEO Jeff Post says the last thing he wants to do is cut employees, but in this case, the cuts are for the greater good of a company that...

  • For One Former CU, Business Lending Doesn't Come Easily

    VIRGINIA BEACH, Va. - One former credit union that became a bank has found out that the grass isn't necessarily that much greener with a bank charter, according to a story in the Virginian-Pilot. In 2003, the $90 million Bank @LANTEC Financial Federal Credit Union was coming off a sustained...

  • JAX FCU Approved for Community Charter With Potential of 1.2 Million Members

    ALEXANDRIA, Va.-The NCUA Board approved a five-county community charter for JAX Federal Credit Union-a rarity with the former two-member board-despite a recent legal challenge by the bankers to NCUA's large community charter approvals. JAX was approved to serve more than 1.2 million residents of Baker, Clay, Duval, Nassau, and St....

  • NCUA Board Issues Interim Final Rule on Overdraft Disclosures

    ALEXANDRIA, Va.-NCUA has approved its version of a rule requiring credit unions offering overdraft and courtesy pay programs to disclose the associated fees. Upon publication in the Federal Register, credit unions providing members with "bounced-check protection" or "courtesy overdraft protection" on an ad hoc basis will be required to disclose...

  • National Foreclosure Rate at Annual High, Increases Almost 19% in October

    IRVINE, Calif. - RealtyTracT, which publishes the largest national database of pre-foreclosure and foreclosure properties, released its October 2005 Monthly U.S. Foreclosure Market Report and the findings were sobering - nationwide, 81,382 properties entered some stage of foreclosure in October, representing an increase of 18.6% from the previous month and...

  • Cabrillo CU Offers Hurricane Wilma Waivers

    SAN DIEGO - Cabrillo Credit Union and its partners haven't forgotten Hurricane Wilma victims. Current members who live in the affected areas will be granted assistance in the form of waiving loan payments, freezing loan interest accruals, and waiving fees and charges on those members' checking accounts. "It is unfortunate...

  • Saugus FCU Gives Back to Louisiana School

    SAUGUS, Mass. - Saugus Federal Credit Union is helping a Louisiana school district as part of its Hurricane Relief efforts. SFCU President John Smolinsky has announced that the credit union will match the $5,900 the Saugus Educators' Association (SEA) is sending to the city of Baker school system in Louisiana....

  • Arrowhead CU Green Efforts Awarded

    SAN BERNARDINO, Calif. - Arrowhead Credit Union has been recognized by the Environmental Protection Agency for its efforts in providing more energy efficient branch locations. The credit union was one of only nine national ENERGY STAR Award winners for energy improvements. Arrowhead CU upgraded a total of 137,000 square feet...

  • Carolina Trust FCU Donates $2,500 for Hurricane Katrina Survivors

    MYRTLE BEACH, S.C. - Carolina Trust Federal Credit Union staffers not only opened their wallets to help Hurricane Katrina relief efforts but also their time. Credit union staffers helped wherever they could during a live telethon event. In addition, Carolina Trust FCU donated $2,500 to the American Red Cross. The...

  • Hershey FCU Helps Hurricane Katrina Survivors

    HERSHEY, Pa. - Hershey Federal Credit Union has recently donated $1,206.74 to benefit the victims of Hurricane Katrina. The donated funds were divided equally between the American Red Cross and the National Credit Union Foundation Disaster Relief Fund. HFCU members and employees donated pocket change and other cash contributions for...

  • CUNA Senior Lobbyists Exiting for NCUA Posts

    WASHINGTON-Big changes are taking place at CUNA and NCUA. Knowledgeable sources have confirmed that CUNA Senior Vice President of Governmental Affairs John McKechnie will be moving to NCUA as director of congressional and government affairs. NCUA has announced that current Director of Congressional and Governmental Affairs Cliff Northup will be...

  • Minnesota CU Network Hosts Monday Night Football Fundraiser for CULAC

    ST. PAUL, Minn. - There's nothing like a good Monday night football game to bring people together, especially when it's the home team playing. Monday night, Nov. 21 was no different when the Minnesota Vikings took on the Green Bay Packers. In fact, said the Minnesota CU Network, "it was...

  • Technology CU Promotes Gas Savings, Clean Air with New Hybrid Car Loan

    SAN JOSE, Calif. - Technology CU has begun offering members its new "Green Car" loan for hybrid car loans as a way to help them save money on gasoline, protect the environment and help strengthen national energy security. The new Green Car loan has special lowered interest rates. SVP of...

  • Affinity FCU Diaper Drop a Success

    BASKING RIDGE, N.J. - Affinity Federal Credit Union has recently lent a much needed helping hand to the Edison, New Jersey-based Amandla Crossing Transitional Housing Program by donating diapers and wipes. Amandla Crossing is operated by Middlesex Interfaith Partners with the Homeless and provides transitional housing and support services for...

  • Hood Expresses Eagerness to Work With NCUA Staff, CUs

    ALEXANDRIA, Va.-NCUA Board Member Rodney Hood, in opening remarks at his first NCUA Board meeting last week, stated his interest in and commitment to credit unions and NCUA. "I am delighted to serve as a NCUA Board Member, and I look forward to working with all of you in fulfilling...

  • Clearview FCU Members Dine on `Rats' With Survivor Star

    PITTSBURGH - Five members of Clearview FCU were special guests at a recent dinner with local celebrity Ian Rosenberger of the CBS reality show Survivor: Palau. The members were chosen to attend the Nov. 18 dinner event as part of the $587 million CU's recent "Survive Dinner with Ian" membership...

  • CEFCU Donates Over $20,000 To Hurricane Relief

    PEORIA, Ill. - CEFCU has lent a hand to the relief efforts stemming from Hurricanes Katrina and Rita. CEFCU employees, board of directors, and retirees donated over $10,000 to hurricane relief organizations. Providing a matching corporate donation donated a total of over $20,000 to the Central Illinois Chapter of the...

  • Holiday Spirit Alive at Cabrillo CU

    SAN DIEGO -This holiday season staffers at Cabrillo Credit Union and its partners Carlsbad City CU and Sharp CU are all about giving. Rather than kicking up their heels at an annual holiday party, staffers donated the $5,000 earmarked for the event to Habitat for Humanity to support hurricane relief...

  • CU Direct Connect's Dealer-Relations Staff Get AFIP Credentials

    DENVER - CU Direct Connect's dealer-relations staff, which includes dealer account managers, sales managers, director of operations and several operations managers, have all received Association of Financial & Insurance Professionals Certification. AFIP is the sanctioning body for in-dealership financial services personnel in the U.S. The certification program, recommended by the...

  • Fannie Mae, Freddie Mac Higher 2006 Loan Limits Make More Consumers Eligible for Lower-Cost Financing

    WASHINGTON - Fannie Mae and Freddie Mac both announced their plans to increase their single-family mortgage loan limit to $417,000 for 2006, effective Jan. 1. The increase in conforming loan limits as determined by the Office of Federal Housing Enterprise Oversight is based on federal data on average home prices....

  • FSCC Moving Ahead With Self-Service Branching

    SAN DIMAS, Calif. - Financial Services Centers Cooperative, the national shared branching network headquartered on the West Coast, is moving forward with its self-service branching, this time adding check imaging capability to the machines. Through cooperative arrangements with Ensenta, a self-service network provider, Eastern Corporate Credit Union and Tellagent, the...

  • American Eagle FCU Donates $10,000 for Hurricane Relief

    FARMINGTON, CONN. -American Eagle Federal Credit Union has donated $10,000 to the American Red Cross to support Hurricane Katrina Relief efforts. "We are pleased to make this gift to further the work of the Red Cross and its volunteers helping residents of the Gulf Coast," said AEFCU President William Dokas....

  • Southwest Corporate Approved for Derivatives Pilot Program

    DALLAS - Southwest Corporate joins WesCorp in using derivatives to help credit unions with interest rate risk. Its wholly-owned subsidiary, Southwest Corporate Investment Services, received NCUA approval for a derivatives pilot program for credit unions. Southwest Corporate has been utilizing derivatives for its own balance sheet since 1992, but this...

  • InfiCorp Picks Up Another One

    NEWARK, Del. - The $35 million American Spirit Federal Credit Union has sold its credit card portfolio to InfiCorp, providing a somewhat rare sale in a market which has slowed appreciatively off its pace at the beginning of the year. The purchase brings InfiCorp just over 2,400 card accounts worth...

  • Deere Community Federated CU Now Community 1st CU

    OTTUMWA, Iowa - Members of Deere Community Federated Credit Union have given the official thumbs up to a name change to Community 1st CU. Prompted to make a change after a request from Deere & Company that credit unions not associated with the company change their name to avoid consumer...

  • CURIA Co-Sponsor Resigns Congressional Seat After Guilty Plea

    WASHINGTON-Representative Randy "Duke" Cunningham (R-Calif.) has pleaded guilty to tax evasion and taking bribes from defense contractors. "I'm resigning from the House of Representatives because I've compromised the trust of my constituents," he said in announcing his plea, according to www.signonsandiego.com. "The truth is I broke the law, concealed my...

  • NYSCUL, Virtual CEO Consulting Group Partnership Takes Guesswork out of Planning

    LATHAM, N.Y. - The New York State Credit Union has partnered with global management consulting and best practice research firm Virtual CEO Consulting Group to bring state-of-the-art Internet assessment tools and innovative planning processes to member credit unions at a reduced rate. According to the NYSCUL, participating credit unions will...

  • Louisiana League Staff Return to Harahan Office

    HARAHAN, LA - The Louisiana Credit Union League staff, with the exception of a few members who are wrapping up work in Baton Rouge this week, moved back into its "pre-Katrina" offices in this New Orleans suburb on Monday, Nov. 28. LCUL has been operating out of a satellite office...

  • Jeanne D'Arc Steps Up to Disaster Relief Donation Plate

    LOWELL, Mass. - Immediately after Hurricane Katrina tore through the Gulf Coast, Jeanne D'Arc Credit Union joined forces with the American Red Cross to raise money in support of Katrina's victims. During the weeks following the storm, JDCU placed donation containers in all of their branch lobbies and administrative locations,...

  • MasterCard Shareholders Approve Going Public

    PURCHASE, New York - Shareholders in MasterCard Incorporated have approved a governance restructuring plan what will make the former association into more of a corporation, institute a board of directors which will be independent of MasterCard's issuers, issue and sell common stock in an initial public offering, and establish a...

  • McWilliams Named Senior Vice President of Human Resources

    MADISON, Wis. - CUNA Mutual has hired John L. McWilliams as senior vice president for human resources. McWilliams starts on Dec. 5 and is replacing Keith Williams. According to the company, Williams is leaving to pursue other opportunities. McWilliams most recently served as senior vice president, chief human resources officer...

  • Employee Feedback on Downsizing

    CUNA Mutual CEO Jeff Post shared some responses, both good and bad, he received after a pre-Thanksgiving memo he sent staff about the layoffs and future changes in the company. Here are some excerpts: "The way I look at it, is that we have a lot to be thankful for...

  • De Laurentiis Resigns From CU Central of Canada, Tapped New CEO of Mutual Fund Trade Group

    TORONTO - After four years as president/CEO of Credit Union Central of Canada, Joanne De Laurentiis will resign on Dec. 31. Michael Tarr, chairperson of the CU's board of directors, said on Nov. 28 that the board has accepted the resignation of De Laurentiis, who has been at the helm...

  • Broken Bones Could Not Keep Hyland From First NCUA Board Meeting

    ALEXANDRIA, Va.-While acknowledging some big issues credit unions have to face, NCUA Board plebe Gigi Hyland had an obstacle of her own. Prior to the start of the NCUA Board's November meeting, Hyland could be witnessed hobbling around on crutches, which she earned doing nothing "glamorous" like skiing, she said....

News Briefs

  • State Employees' CU of N.C. and Local Government FCU Save the Day for Just Two Quarters

    RALEIGH, N.C. - State Employees' Credit Union (SECU) and Local Government Federal Credit Union (LGFCU) are coming to the rescue of government employees who retired before Oct. 1 and are in danger of not receiving their benefits payments. Because of last minute legislative changes, there was a substantial increase in...

  • Lynch Coordinating Michigan League's New Governance Consultancy Service

    NORTHVILLE TOWHSHIP, Mich. - Long-time credit union advocate Mark Lynch who has served as deputy chairman of the Australian National Credit Union - the country's largest - and as volunteer and resources manager for the Credit Union Foundation Australia, has been tapped by the Michigan Credit Union League to coordinate...

  • Colorado, Wyoming Leagues' Rokowsky Elected as Mayor Pro tem

    ARVADA, Colo. - Ron Rokowsky, government affairs specialist for the Colorado and Wyoming Credit Union Leagues was re-elected to the Greenwood Village City County and unanimously elected by the remaining City Council members as Mayor Pro tem for a two-year term. Rokowsky was first elected to the City Council in...

  • Displaced Shell CU Reopens New Orleans Office

    NEW ORLEANS - In another sign of recovery from Hurricane Katrina, the $80-million Shell New Orleans Federal Credit Union formally returns to its home headquarters, Monday Dec. 5 with a reopening of full services at its main downtown office. As one of the displaced Louisiana CUs, Shell NOFCU had been...

  • As Legislative Session Winds Down, Lawmakers Overlook CU-Backed Bills

    WASHINGTON-Congress was supposed to adjourn the last day of September, but that did not happen. Then it was by Thanksgiving. As we enter December it seems the calendar might give up on the first session of the 109th Congress before the legislators do. Congress has been in recess the last...

  • NCUA Modest Means Service Study Expected in 2006

    ALEXANDRIA, Va.- NCUA Chairman JoAnn Johnson announced last week that the agency's working group on analyzing credit union service to those of modest means is making progress on the lack of documentation. In response to the House Ways and Means Committee tax hearing in Nov. 3, Johnson has asked the...

Tech Bytes

  • FCUL CUSO Partners with SilverCloud To Offer Knowledge Platform

    TALLAHASSEE, Fla. - The Florida Credit Union League will now be offering its members the Internet-based knowledge management system from SilverCloud Software. Now in use by about 100 credit unions, the platform improves employee productivity and member service by centralizing information in such areas as products and promotions, human resources...

  • Coastal FCU Becomes First FI to Connect to Global Research Grid

    RALEIGH, N.C. - Coastal Federal Credit Union is going out on the Web where no financial institution has ever ventured before. The $1.5 billion CU is the first to join with IBM in the World Community Grid, a global computing project that connects the unused processing power of computers around...

  • BECU Moves Payroll, Workforce Management to New Software Platform

    TUKWILA, Wash. - BECU is deploying a Web-based payroll and workforce management solution called UltiPro from Ultimate Software of Weston, Fla., as the big CU continues its upgrading of internal IT processes. The $5.6 billion CU is replacing its current 16-bit UNIX enterprise resource package to escape significant annual maintenance...

  • eCU Technologies Signs Four More UPost Users

    HARRISBURG, Pa. - eCU Technologies continues to add credit unions to its lineup of users of the UPost online honor deposit service, with four new CUs signing on. Joining the 13 credit unions already offering the service will be $1.5 billion Mountain America CU of West Jordan, Utah; $673 million...

News

  • Hood Elevated to NCUA Vice Chairman

    ALEXANDRIA, Va.-The NCUA Board last week approved Rodney Hood as its vice chairman. "I am pleased that Rodney Hood will be serving as Vice Chairman of the NCUA Board," NCUA Chairman JoAnn Johnson commented. "I look forward to a good working relationship, as we focus on maintaining a safe and...

  • Truliant Federal Credit Union Dedicates Pavilion

    WINSTON-SALEM, N.C. - Truliant Federal Credit Union has recently dedicated the Pavilion of the Member Support Center at 3200 Truliant Way in honor of Fred J. Sarda, one of its founding members. Sarda helped charter the credit union, known then as Radio Shops, in 1952 to serve the employees of...

  • Texas Dow Employees CU Training Facility Raises Bar on Member Service

    LAKE JACKSON, Texas - Texas Dow Employees Credit Union (TDECU) has put its money firmly behind its service values with the unveiling of a new training facility. Located within its headquarters here the facility takes hands-on training to new levels. Not only does the facility include a room that resembles...

  • Power FCU's Revamped Branch Emphasizes Convenience, Service

    LIVERPOOL, N.Y. - Power Federal Credit Union is helping members "experience the difference" in its newly remodeled branch here. "Before the renovation the branch was about 1,600 square feet-it was very, very small and we really needed to increase the size to better serve our members," said Power FCU Executive...

  • Everyone's FCU Takes a Lesson from History for New Branch Tying Past to Future Credit Union Success

    TUCUMCARI, N.M. - Everyone's Federal Credit Union has found inspiration for its newly renovated branch by tapping into the past. Originally chartered in 1954 as Southern Pacific Railway Employees FCU, it later merged with Guadalupe/Quay County CU and Union County CU. When the railroad ceased operations here, a name change...

  • Tampa Bay Federal has in With Tampa Bay Lightning

    TAMPA, Fla. - Tampa Bay Federal Credit Union has expanded its reach here to include the St. Pete Times Forum-home of Stanley Cup champions the Tampa Bay Lightning. The credit union is the official ATM provider of the NHL team and reinforces its presence here by parking its Double Decker...

  • Getting More Transparent

    Polish and Slavic FCU's new chairman is hoping transparency at the board level will help the often sued credit union get back on track with members. Page 6.

  • Marine FCU Breaks Ground For Latest Branch

    JACKSONVILLE, N.C. - Marine Federal Credit Union is branching out. Commanding General of Marine Corps Installations East, Major General Robert Dickerson joined Marine FCU Board of Directors in a groundbreaking ceremony of the Piney Green Road branch. The 4,500 square-foot facility will feature three drive-up lanes, two ATMs and will...

  • ADP FCU Branches Out to Florham Park

    ROSELAND, N.J. - ADP Federal Credit Union has recently opened a new Florham Park branch to serve more than 680 on-site ADP associates with the credit union's full range of financial services. In addition, the new facility will serve over 1,300 local ADP associates in the company's nearby Parsippany offices....

  • Special Report: Facilities

    Learn how a few credit union branch renovations led to big results and discover a potpourri of facilities news in a special report on pages 22 to 24.

  • AmeriChoice FCU to Make Debut at Central Pennsylvania College

    MECHANICSBURG, Pa. - AmeriChoice Federal Credit Union and Central Pennsylvania College have teamed up to open a CU student-run branch in January 2006. The branch is slated to be open three days a week for the students' convenience. There will also be an AmeriChoice ATM located inside Central Pennsylvania College...

  • Vantage CU Branches Out

    ST. LOUIS - Vantage Credit Union is set to build a new branch in Wentzville, Missouri. The $2.5 million, 6,000-square foot facility will be designed and built by local architect firm Arcturis and construction management firm Kwame Building Group. Construction will be split into three phases and branch completion is...

Letters to the editor

  • Boards Need to at Least Consider Some Governance Reform

    I have been watching with great interest the recent debate about the role of volunteers and issues surrounding the level of board governance. In particular, I enjoyed reading editor-in-chief Paul Gentile's recent column (CU Times, Nov. 2) and the subsequent letters of outrage that followed. Having lived through this debate...

  • Credit Unions Have to Speak Young People's Language to Win their Business

    In the Nov. 16 issue, Myriam DiGiovanni's article entitled, "brass|Media Founder/CEO Bryan Sims Speaks About Younger Market," discussed the elusive young adult market with brass|Media, Inc. CEO Bryan Sims. Indeed this market segment is tuning out traditional (TV, radio, major sporting event sponsorship) marketing in favor of social networking; sadly,...

  • Credit Unions Should Take Time and Reflect on Drucker's Lessons

    On Nov.11 Peter Drucker, 95, died in his sleep at his home in Claremont, California. Drucker has been called the Father of Modern Management. And even in his 90's, Time magazine recognized him as one of the youngest minds. He will be missed. And I'm scared. Who will lead us...

  • Issue Was Right on Target

    Just a quick note to tell you that of the hundreds of issues of Credit Union Times I have read over the years, the Nov. 23 edition was perhaps the best, most pertinent yet. No less than a dozen articles had direct connection to issues I am dealing with currently....

  • From the Editor: Keep Those Letters Coming!

    Credit Union Times is proud to report that so far in 2005 every issue has contained letters to the editor. We're proud of this for two reasons. First, it's an indication that Credit Union Times is providing thought-provoking editorial coverage that is inspiring more readers than ever to write letters....

Beyond the Job

  • Castle is Passionate about Antique Chandeliers

    AUSTIN, Texas - Allison Castle, Texas Credit Union League Communications Director, Advocacy, is the ultimate antique shopper. She started antiquing in high school, picking up inexpensive pieces of furniture to use while at college. A wrought iron bed and a dressing table were among the first pieces she purchased. Other...

  • Schumacher Puts Barber Shop Harmony Experience to Test with Temptations

    EVERETT, Wash. - More than 35 years of singing barber shop harmony came to a head for Bob Schumacher one nerve-wracking evening. Schumacher, president/CEO of $46 million Snohomish Co. PUD Credit Union, got the surprise of his life when he was told that he would be singing along with Motown...

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

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

Publisher's Column

  • NCUA is Back in Business

    With new NCUA Board Members Rodney Hood and Gigi Hyland joining NCUA Chairman JoAnn Johnson at the November Board meeting, the NCUA Board was finally back to its full, three-member strength. I, like many in the industry, am curious about how the new board dynamic will play out so I...

In Other News

  • DONATIONS

    Kinecta Federal Credit Union, Manhattan Beach, Calif., staffers have donated their time, sweat and muscle to help repaint the house of one well deserving lucky family. Ana Becerra entered the credit union's "We'll Paint Your House" contest hoping her parent's Brea, California home could be repainted. As winners of the...

Opinions

Staking Out the Stats

  • Staking Out the Stats

    So much for branches going the way of the dinosaur. Branches are as popular as ever with retail environments particularly striking a chord with members today. Listed here is a snapshot of the top 10 credit unions in Branch and ATMs according to Callahan's 2006 Credit Union Directory:

Advertisement. Closing in 15 seconds.