Credit Union Times Magazine December-14, 2005

In Other News

  • DONATIONS

    Postal Credit Union, Woodbury, Minn., has lent a hand in the fight against hunger. A group of 27 PCU employees and volunteers gladly rolled up their sleeves and packed over 600 boxes of food to be distributed by Second Harvest Heartland Food Bank. Second Harvest was also presented with a...

  • WEST

    Altura Credit Union, Riverside, Calif., has promoted Valerie Spiro to employee relations manager. In addition, Altura CU has named Maria Colgan commercial real estate manager and Jandea Samawova Corona-South branch operations manager.

  • SOUTH

    Community Educators Credit Union, Rockledge, Fla., has named James D. Chastian vice president of commercial services. State Employees Credit Union, Raleigh, N.C., Senior Vice President/Chief Operations Officer Sue Douglas has been elected chairman of the NC Credit Union Commission and SECU Senior Vice President of Loan Administration Phil Greer has...

  • SOUTHWEST

    Smart Financial Credit Union, Houston, has promoted Diane Ray to vice president/controller. Firstmark Credit Union, San Antonio, Assistant Vice President Linda Sue Rodriguez has been named president of the Professional Teleservice Management Association.

News

  • NCUA's Northup Rubs Elbows with the Rich and Famous at the Kennedy Center

    WASHINGTON - By day, he traverses Capitol Hill with some of the nation's most powerful lawmakers and works at NCUA, and at night Director of Congressional and Government Affairs Cliff Northup hobnobs with the stars. This was Northup's ninth year volunteering at the Kennedy Center Honors program held two weekends...

  • Callahan & Associates and CU-Vote Partner to Take Member Political Awareness Program Nationwide

    WASHINGTON-In response to the calls for greater transparency in credit union service to those of modest means discussed at the Nov. 3 House Ways and Means Committee hearing, CU-Vote has partnered with Callahan & Associates to bring the program nationwide. CU-Vote is a program started by the Alabama Credit Union...

  • Arrowhead CU's 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...

  • Washington State Employees CU Hires Former State Official to Oversee Investments

    OLYMPIA, Wash. - To oversee its funding and investments, Washington State Employees Credit Union sought out a former senior state official. The $1 billion credit union has hired Wayne Kawakami as its new vice president of funding and investments, a newly-created position, the CU said. Kawakami previously served as a...

  • Sharp Credit Union CEO Presented Award of Excellence

    SAN DIEGO - Sharp Credit Union CEO Joann Gibson has been singled out by the San Diego/Imperial Valley Chapter of the California/Nevada Credit Union League to receive the 2005 Chapter Award of Excellence. Gibson was honored for her services in many roles including chapter president, vice president, program chairperson, legislative...

  • Chetco FCU is NACCU's 2005 Community CU of the Year

    HARBOR, Ore. - Chetco Federal Credit Union has taken home the Community Credit Union of the Year award by the National Association of Community Credit Unions (NACCU). The award recognizes a community credit union best exemplifying the principles of the credit union movement while serving as a positive influence in...

  • NeighborWorks Board Announces Addition of NCUA Vice Chair

    ALEXANDRIA, Va.-Arriving at the NCUA Board a month ago now, NCUA Vice Chairman Rodney Hood has received a new assignment. Hood has been named to the NeighborWorks Board of Directors, according to the group's Web site (www.nw.org). The board includes representatives from each of the federal banking agencies and the...

  • Discover Rolling Out Some Products to CUs

    HOUSTON - Discover Financial Services, the card arm of Morgan Stanley, has begun offering credit unions who are members of the PULSE EFT Association a limited number of Discover branded products. Discover bought the PULSE network from its bank and credit union owners earlier this year. The three products are...

  • NCUA: Merger Trend Continues

    ALEXANDRIA, Va.-The consolidation trend raged on through October, according to NCUA's Insurance Report of Activity for the month. NCUA approved 35 mergers in October, more than one a day. Ten were of credit unions under $1 million in assets, including the tiny $43,592 Minot Union Trades Credit Union in Minot,...

  • John Deere Community CU Awards Diversity Alliance Grants

    WATERLOO, Iowa - John Deere Community Credit Union (JDCCU) has just announced the November recipients of the 2005 Diversity Alliance Grant, which provides up to $25,000 to organizations supporting diversity efforts in communities. The Diversity Alliance Grant was established in 1999 to fund programs that fulfill the grant's mission, "building...

  • Carolinas Foundation Starts New `Social Mission' Grant Policy

    GREENSBORO, N.C. - Striving to give credit unions a higher pubic profile in social causes, the Carolinas Credit Union Foundation has announced an innovative new method for awarding grants that focuses on local agencies and league chapters. "Too often our message gets watered down or buried by large corporations which...

  • Latest Executive Compensation Survey Reveals Continued Popularity of 401(k)s; 457 Plans Seen as Ideal for Retaining Top Talent

    GLENDORA, Calif. - Baby Boomers continue to capture the spotlight as they reach or near retirement age and many of those, defined as those who were born between 1946 and 1964, work at credit unions. Their choices and the delivery mechanism for retirement income both through qualified plans and non-qualified...

  • Landmark Credit Union Hits Major Asset Milestone

    NEW BERLIN, Wis. - Landmark Credit Union's assets hit the milestone $1 billion mark at the end of September and it has added another $1 million as of the end of November, says Ron Kase, president. To honor the accomplishment, the credit union announced its commitment of $10 million to...

  • Highest Percentage of Credit Unions Adopting Underserved Areas Between $250-$500 Million

    ALEXANDRIA, Va.-The banking industry has called into question whether credit unions, particularly large ones, continue to serve their mission, but new data from NCUA seems to say otherwise. Information disclosed by NCUA Dec. 6 showed that 62 of 146 federal credit unions between $250 million and $500 million in assets,...

  • Predicted Bankruptcy Surge Becomes a Reality as Filings Jump 10%

    WASHINGTON-Bankruptcy filings have reached new heights since the reform law became effective. Overall, bankruptcy cases jumped 10% through the 12-month period ending Sept. 30, 2005 setting a new record in filings. Perhaps even more telling of the new law's impact is that business filings were down as well as Chapter...

  • Pennsylvania Banking Secretary Schenck Testifies on Payday Lending, On Abusive Practice Legislation

    HARRISBURG, Pa. - As part of the latest push to enact legislation in Pennsylvania to regulate payday lending, Pennsylvania Secretary of Banking Bill Schenck testified last week before the state Senate Banking and Insurance Committee on how the Pennsylvania Department of Banking could regulate the practice and safeguard consumers. Two...

  • Model Governance Code Issued in Washington State

    OLYMPIA, Wash. - Mindful of both state and national attention on corporate governance, the State of Washington's Credit Union Division is making available model codes which set out policy recommendations for membership voting, board elections, ethics, and other issues to credit union managers and volunteers. The model codes are "strictly...

  • First Entertainment and Toys for Tots Share Special Connection

    HOLLYWOOD, Calif. - First Entertainment Credit Union and the Toys for Tots program are brothers of sorts, coming together at the holidays just like family. Interestingly, both got their start on the Warner Brothers studio lot: Toys for Tots in 1947, and First Entertainment in 1967. The two non-profits are...

  • Credit Unions Have a Good Card Story to Tell, They Just Don't Tell It

    BIDDEFORD, Me. - When it comes to charging fees for their credit cards, most credit unions have a great story to tell. The problem is that so few of them think outside the box enough to begin telling it, card experts said. One credit union that has started to carry...

  • Credit Union Organizer in Afghanistan Sees Work as High-Risk, High-Reward

    MAZAR-E-SHARIF, Afghanistan - Growing a credit union is hard work anywhere. If you need bodyguards, translators, no one has heard of credit unions, literacy is low-level, and live in a war-zone, it is even harder. Despite daily hardships Edgar Comeros managed to open two credit unions in war-torn Afghanistan in...

  • NCUA Issues Guidance for Overdrafts, Urges Member Education on Less Costly Alternatives

    ALEXANDRIA, Va.-NCUA is speaking out about the risks and benefits of overdraft programs in a new Letter to Credit Unions (05-CU-21). The agency warned, "In coming months, NCUA examiners will look closely at courtesy pay programs." A copy of the related examination questionnaire was included with the letter from NCUA...

  • Chetco FCU's Operation New Parent Gives Credit Union Inside Track on Attracting Bouncing Baby Members

    HARBOR, Ore. - Chetco Federal Credit Union wants to make sure area newborns are on board for a healthy, prosperous financial future. The over $232 million credit union kicked off Operation New Parent in a bid to promote membership while celebrating the arrival of a new baby. In the three...

  • Credit Unions Need to Get Creative to Battle Stagnant Share Growth

    WASHINGTON - It's no secret that credit unions have been trying to find ways to jump start what has been a near 10-year low in share growth. As strong loan growth continues to stretch the loan-to-share ratio and liquidity issues remain top-of-mind, credit unions are being forced to look for...

  • Data Demonstrates that Credit Unions Still Beating Banks on Fees

    WASHINGTON-The results of a new Bankrate.com survey on checking and ATM fees at large banks and thrifts, when compared with CUNA data on credit union fees, found the non-profits more consumer-friendly. Even as the Federal Deposit Insurance Corporation announced another quarter of record earnings, Bankrate.com released a checking survey finding...

  • Fed's New Orleans Branch Check Processor to Remain in Atlanta

    ATLANTA - The Federal Reserve Bank of Atlanta's New Orleans Branch check processing operation will remain here, the Federal Reserve Banks' Financial Services Policy Committee (FSPC) announced on Dec. 5. Since Hurricane Katrina struck the Gulf Coast in August, the Atlanta office has been processing checks on a contingency basis...

  • Freddie Mac Extends Deadline for Foreclosure Suspension in Gulf Coast Region

    MC LEAN, Va. - Freddie Mac has extended through Feb. 28, 2006 its deadline for foreclosure suspensions on mortgages on homes in Hurricanes Katrina and Rita disaster areas. The original deadline was Dec. 1. To make the post-Dec. 1 extension process more efficient for borrowers, Freddie Mac is waiving its...

  • Senior CUNA Staff Recognized for Years Under Belt

    WASHINGTON-CUNA recognized two of its senior staff members for their lengthy service at the organization. CUNA President and CEO Dan Mica (center) presented commendations to CUNA Senior Vice President of Communications Mark Wolff for 15 years of service and Senior Vice President of Regulatory Compliance Kathy Thompson for 25 years...

  • CURIA Reaches 105 Congressional Supporters

    WASHINGTON-The Credit Union Regulatory Improvements Act (H.R. 2317) garnered two more lawmakers for its list of co-sponsors. Democratic Congressmen Russ Carnahan (Mo.) and John Olver (Mass.) added their names to bring the total congressional support to 105, despite the controversial resignation of CURIA-backer Randy Cunningham (R-Calif.). The legislative session is...

  • Co-op Service CU Makes Dreams a Reality

    LIVONIA, Mich. - Co-op Services Credit Union has gotten into the dream making business by helping to finance a member's dream for his daughter. Longtime member James Dodd thanked staffers for a loan that helped his daughter record her first vocal music CD. "My daughter Gayle is an aspiring singer...

  • CUNA Hurricane Relief Work Acknowledged By President Bush

    WASHINGTON-CUNA's efforts to help rebuild credit unions - and therefore their members' lives - have been noticed at the pinnacle of American Government. President George W. Bush wrote CUNA Oct. 6 to thank the organization for its efforts to aid the victims of Hurricane Katrina. "I learned about your extraordinary...

  • SBA's Quickened Pace Pushes Disaster Loans Approved to $1 Billion

    WASHINGTON - The SBA's ramped-up processing of its disaster loans is paying off for hurricane victims. As of Dec. 2, the agency said it has approved a record $1 billion for those impacted by Hurricanes Katrina, Rita and Wilma. More than 14,200 residents and business owners in the Gulf Coast...

  • NCUA Reiterates Importance of Education On Phishing Scams

    ALEXANDRIA, Va. - Given that financial institutions are the most targeted industry for phishing scams, NCUA published a Letter to Credit Unions (05-CU-20) highlighting the need for credit unions to educate their members. "As the number and sophistication of phishing scams continues to increase, we would like to emphasize the...

  • Texas Governor Perry Hosts Small Business Summit, Credit Unions Participate

    TYLER, Texas - Gov. Rick Perry recently hosted a Small Business Summit here to help area small business owners gain tools for future success and opportunities for immediate growth. The Dec. 6 Summit focused on a number of areas including workforce recruitment and development, saving money with tax credits, managing...

  • Rawls Named CUES DEF Director of the Year

    LAS VEGAS - Florida Credit Union Board Director Dr. John C. Rawls has been named the 2005 CUES Directors Educational Forum Director of the Year during the CUES 2005 Directors Conference here. "It is with great pleasure that I stand here before you tonight and even a greater pleasure to...

  • New Arizona Regulator Replaces Houseworth

    PHOENIX - A new top credit union regulator for Arizona, Felicia Rotellini, takes over next month replacing Richard Houseworth, the state's superintendent of banking, who is retiring after 12 years on the job. Rotellini, an attorney who has been assistant superintendent since January 2005, assumes the regulatory post as the...

  • Mahaney Named New Delaware Credit Union League CEO

    NEW CASTLE, Del. - The Delaware Credit Union League has tapped one of its veteran credit union volunteers as its new president/CEO. After completing a national search Patrick Mahaney, a 25-year credit union volunteer succeeds Bob Walls who left the Delaware League in July to head up the New Jersey...

  • Former Banker Irving Named President/CEO of Greenwood CU

    WARWICK, R.I. - Greenwood CU has joined the ranks of credit unions that are dipping into the pool of bank employees to find the people to occupy their corner office. The $239 million CU, one of the state's largest, has selected James "Jim" Irving as its new president/CEO. He comes...

  • Keesler Federal Members Dream Of Debt Free Holiday

    BILOXI, Miss. - Just in time for the holidays Keesler Federal Credit Union has disbursed some $4,572,783 to 15,667 of its members as part of its 2005 Christmas Savings account program. The total represents a 34% increase over the 2004 Christmas Savings figures. Dividends of 1.75% were paid on these...

  • Congressman Royce Participates in Operation Best Wishes

    Congressman Ed Royce (R-Calif.) discusses Operation Best Wishes with WesCorp Public Affairs Director Sheri Ledbetter. The program, now in its second year, offers military families an opportunity to send a Webcast greeting to their loved ones in the military deployed during the holiday season. Royce sent his own personal greeting...

  • Wanted: Credit Counselors

    WASHINGTON - The Department of Justice US Trustees program is looking for a few good credit counselors. According to NAFCU Director of Compliance Anthony Demangone, to qualify as a credit counseling agency, a credit union would have to: * Have a board of directors not employed by the counseling agency...

  • Becker and Leggett to Debate Risk-Based Capital

    WASHINGTON-Top credit union and bank trade association officials are preparing to publicly go head-to-head on the issue of risk-based capital for credit unions. NAFCU President and CEO Fred Becker and American Bankers Association Senior Economist Keith Leggett are slated to debate risk-based capital for credit unions before members of the...

  • Most Ever NCUF Grant Applications

    WASHINGON - The National Credit Union Foundation has a record amount, $800,000, available for grants in this next round of funding, but the Foundation also has a record number of grant applications, 54, waiting for a crack at that pool of cash. The NCUF will fund programs which seek to...

  • SECU Launches Handicapped Accessible Vehicle Loan Program

    RALEIGH, N.C. -State Employees' Credit Union (SECU) is helping its handicapped members get around town through a new loan program for handicapped accessible vehicles (HAVs). Seeing an increased demand for financing vehicles equipped to assist handicapped members, SECU's board approved guidelines to help lending staffers meet their needs. Interest rates...

  • T&C FCU Reaches Out to Small Business with SBA Loans

    BLOOMFIELD HILL, Mich. - T&C Federal Credit Union recently completed the approval process to originate loans guaranteed by the SBA. The $536 million CU said the new designation will allow it to reach out to its surrounding communities by providing several services to make it easier for small companies to...

News Briefs

  • CU Business Capital Ramps Up Loan Processing Deal with Lending Solutions

    MIRAMAR, Fla. - Nearly five months after its launch, CU Business Capital LLC is moving forward with its commercial lending program for credit unions. The CUSO, launched by $2 billion Eastern Financial Florida CU in July, has just signed on with Elgin, Ill.-based Lending Solutions Inc. to provide its credit...

  • DPSCU/SRMCU in Colorado Merging Gateway

    DENVER - DPSCU/SRMCU, formed by the merger of Safeway Rocky Mountain CU into DPS CU earlier this year, has announced merger plans with Gateway Credit Union of Aurora. If approved, it will create an $800 million credit union. "An already great partnership just gets better," said Alan Peppers, President/CEO of...

  • Sub S Status Making Banks More Attractive Acquisition Targets

    CHICAGO-Banks with Subchapter S status under the Internal Revenue Code are making themselves ripe for acquisitions, according to a recent analysis by Grant Thornton LLP. After 10 years as an S Corp, banks can use additional favorable tax rules because they will no longer need to apply the built-in gains...

  • CORRECTIONS

    In the Nov. 23 issue, the story entitled, "Jack Henry Adds to Product Mix With Acquisition of ProfitStar", the story stated that Stratika's profitability solution will be replacing ProfitStar's profitability solution. According to ProfitStar, the Stratika product will be offered to credit unions, however it is not replacing the ProfitStar...

  • Reception for NCUA Board Members Planned at the Capitol

    WASHINGTON-A number of government officials will be honoring the newest members of the NCUA Board with a reception at the U.S. Capitol. Senators George Allen (R-Va.), Richard Burr (R-N.C.), Banking Committee Member Elizabeth Dole (R-N.C.), Banking Committee Member Tim Johnson (D-S.D.), Minority Leader Harry Reid (D-Nev.), and John Warner (R-Va.),...

  • NAFCU Reports IRS to Publish Deferred Compensation Study in 2006

    ARLINGTON, Va. - A study on deferred compensation from the IRS is scheduled for release in 2006. NAFCU, citing information from BNA Banking Report, said the study will look at how the plans are treated at tax-exempt organizations. While the report won't be targeted directly at credit unions, the IRS...

  • NAFCU Announces Annual Trek to Fed

    ARLINGTON, Va. - NAFCU recently announced a group of top staffers will be visiting the Federal Reserve Board Dec. 15. NAFCU sends a small group of top staff, with report in hand, to the Federal Reserve every December to update the board on the credit union community. Fed Vice Chairman...

  • CDFI Announces Approximately $25 Million Available in 2006

    WASHINGTON - The U.S. Treasury Department's often attacked and occasionally beleaguered Community Development Financial Institution Fund has announced that it will have approximately $25 million available for which certified CDFIs can apply in fiscal year 2006. Community development credit unions have largely, though not always, found the CDFI Fund generous...

Tech Bytes

  • Credit Union Offers One-Stop ATM, Shared Branch Locator

    As the number of ATM and shared branch networks have grown, credit unions often find themselves scrambling to keep their members up to date about their own ATMs and branches as well as the ATMs and branches tied to fee-free networks such as from CO-OP Network and Allpoint. Often this...

  • Phishing Attacks On CUs, Community Banks Rising, Firm Says

    ATLANTA - If your $400 to $500 million credit union hasn't been phished yet, experts say that it is only a matter of time until it is. Phishing attacks, those in which criminals intent on fraud send e-mails seeking to fool consumers into visiting phony Web sites and revealing sensitive...

  • COCC Adds PPS Early Warning Services to Security Suite

    AVON, Conn. - COCC has added Primary Payment Systems' check-fraud alert tools to the core processor's risk-management suite for credit unions and community banks, and one early user says it's already paid off. COCC, a client-owned provider of core processing and other technologies to more than 125 financial institutions, is...

  • RSA Security Acquires Cyota

    BEDFORD, Mass. - RSA Security Inc. here has acquired New York City-based Cyota, Inc. for $145 million. Cyota's presence has been growing in the credit union industry. It has a number of large credit union clients such as Patelco CU and Pennsylvania State Employees CU, both of which use its...

  • Mid-Atlantic Partners With BluePoint for Branch Capture

    MIDDLETOWN, Pa. - Mid-Atlantic Corporate has partnered with BluePoint Solutions to offer Bluepoint's C21 Capture solution to its member credit unions. Its members will be able to capture digital images of their deposited checks at the branch and transmit them daily to Mid-Atlantic Corporate for processing. Mid-Atlantic Corporate will use...

  • SECUWA to Convert to Symitar Platform

    SEATTLE - School Employees Credit Union of Washington says it will be converting its core processing system to the Episys platform from Symitar. The $612 million CU says it selected the system after a 24-month evaluation process. "Episys has the flexibility to support our credit union's strategic direction in attracting...

Special Report

  • TNB Upgrades Card Management Access For Clients

    DALLAS - TNB Card Services, the card services company which is a subsidiary of credit union owned Town North Bank has announced an upgrade to the system through which its processing credit unions can access and manage their card information. Dubbed the VIP CardStation, the new system offers a more...

  • Chinese Debit Card First Used in U.S. at a PULSE Terminal

    HOUSTON - Executives from two Chinese banks, as well as Discover and PULSE took part in the first swipe of a debit card issued by a Chinese bank at a point of sale terminal in the U.S. On Dec. 5, Liu Tinghuan, Chairman of China UnionPay (CUP), and Su Ning,...

  • PSCU Makes Dividend Payment Early

    ST. PETERSBURG, Fla. - PSCU Financial Services, the card services CUSO for over 500 credit unions which process their card transactions with First Data Inc., has announced that it will pay the balance of the patronage funds it owed its credit unions from 1998 three months early. The money is...

  • Kessler Financial Services Becomes Kessler Group

    BOSTON - Kessler Financial Services, the card portfolio brokerage most closely associated with card giant MBNA and noted specialist affinity marketing firm, has changed its name and become the Kessler Group. "This new identity unites our entire organization of diverse, forward-thinking companies under one umbrella brand," the company said about...

  • Retail Sales Continuing Strong As Shopping Season Continues

    SAN FRANCISCO - American consumers are continuing to use their Visa branded credit and debit cards a significantly higher rate than last year, the nation's number one card brand has reported. Overall sales volume on Visa-branded payment cards reached $25.1 billion for the week (Nov. 28 - Dec. 4), an...

  • Desert Schools Members Love The Gift Card

    PHOENIX -- Members of the $2.4 billion Desert Schools FCU can choose the credit union's Visa gift card again this year after the CU sold 13,000 of the cards between October and December of 2004. The cards will be available from the CU's branches as well as online and will...

  • Technology Credit Union Starts Offering Amex

    SAN JOSE, Calif. - Proclaiming its members "some of the most demanding consumers in the world," the $1.1 billion Technology Credit Union has begun offering the American Express Card pursuant to its agreement with MBNA, the card issuer with whom it has an agent relationship. "Our goal is to find...

Letters to the editor

  • Theriault Trying to Panic Credit Unions

    Alan D. Theriault commits a self-fulfilling prophecy in his letter in the Nov. 30 issue - he, for sure, is yelling "fire" in a crowded and hypersensitive theater. Let's set the facts straight about CUNA and its intentions for credit unions: We are working meticulously to improve the credit union...

  • Like it or Not, the Conversion Issue is a Political Issue

    The discipline of political science is not simply the study of who wins elections, it's also a study of where people live, what kind of work they do and the culture of specific regions. In Vancouver, Washington a volunteer-grassroots group mobilized to save Columbia Credit Union who, like Community CU,...

  • If Credit Unions Can't Do It Themselves, Congress May have to Police the Industry

    The recent U.S. House Committee on Ways and Means hearings coincided nicely with my efforts to get the industry refocused on serving the members instead of acting like for-profit banks. Had I been asked to testify before the committee, I would have said all credit union volunteers and paid management...

  • Gentile Got it Right, ID Theft Issue Should be a Priority for Credit Unions

    Editor-in-Chief Paul Gentile certainly got it right in his column, "Some Observations on this and that." in the Nov. 23 issue when he pointed out the need for credit unions to take the lead on identity theft. At NAFCU, we are taking every opportunity to educate our members on the...

  • Letters to the Editor

    Submission by e-mail is preferred. Send to editor@cutimes.com, or mail to Paul Gentile, 1 Lexington Court, Holmdel, NJ 07733

  • Even Theriault Knows That Taxation is Not a Certainty!

    Once again, I find myself compelled to respond to the propaganda being put out by Alan Theriault (which usually shows up thinly disguised in the writings of Marvin Umholtz and Lee Bettis) in his letter to the editor, titled "Even Trade Associations Know Taxation is Coming for Some CUs" (CU...

Publisher's Column

  • Changing CU Landscape Will Drive Up CEO Salaries

    One nugget of news from last month's House Ways and Means Committee hearing on the credit union tax-exemption that isn't being talked about much is the panel's interest in credit unions disclosing executive salaries. I'm not sure the industry is ready for this. Compensation is an inherently controversial topic. Just...

People

  • MIDWEST

    John Deere Community Credit Union, Ankeny, Iowa, Lending Supervisor Michele Starkenburg has been elected Ankeny Area Chamber of Commerce board director Wright-Patt Credit Union, Fairborn, Ohio, Community Development Manager Walt Overholser has been elected vice president of the Beavercreek Chamber of Commerce. Vantage Credit Union, St. Louis, has named Eric...

  • EAST

    Aberdeen Proving Ground Federal Credit Union, Md., has named Terry Coldiron vice president of member lending services and Maureen Bruneau Bel Air mortgage operations manager. St. Mary's Bank, Manchester, N.H., has named Thomas A. Champagne director of business development and marketing. Citadel Federal Credit Union, Thorndale, Pa., has named John...

Quotes Worth Quoting

  • Quotes Worth Quoting

    "We're of one mind." - Michael Hale, president/CEO of $784 million Andrews FCU on the turnout from NCUA,CUNA and NAFCU officials and other industry notables at the grand opening of a District of Columbia branch, which will serve people of modest means. "Pennsylvania needs to get tough on payday lending....

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