Credit Union Times Magazine January-05, 2005

Marketing

  • Radio Show Shines Spotlight on Georgia Credit Unions

    DULUTH, Georgia -Georgia Credit Union Affiliates President/CEO Mike Mercer and TIC Federal Credit Union President/CEO Janet Davis were recently interviewed last week on "Georgia Focus", a public affairs radio program, produced by Georgia News Network (GNN). The program was aired throughout the state of Georgia on GNN stations December 11...

  • Financial Partners CU Hispanic Outreach Efforts Honored

    CU Times Senior Staff Reporter DOWNEY, Calif. - For Financial Partners Credit Union, perhaps the greatest testament that its Hispanic outreach efforts are making a difference is to be recognized by the Hispanic community itself. The $619 million credit union recently took home the best Spanish-language marketing campaign in the...

  • Exams Show CUs Not Complying with Flood Insurance Requirements

    ALEXANDRIA, Va.-In a recent review of examination findings, NCUA found that "some credit unions are not fully complying with the requirements of Part 706" (requirements of the National Flood Insurance Program). Letter to Credit Unions 04-CU-16 provides a reminder of the key provisions of the program, including: * a credit...

  • Cirelli Honored by Clearview FCU with American History Scholarships

    MOON TOWNSHIP, Pa. - For his keen interest in American history and his 35 years of service, Clearview FCU has launched a scholarship in former President/CEO Joseph Cirelli's name. The scholarship will help fund school students' participation in the Colonial Williamsburg Foundation's Electronic Field Trips programming. Cirelli was recognized with...

  • 2005 Vendor Meetings & Events Calendar

    Credit union associations like CUNA, NAFCU, leagues and others aren't the only ones holding credit union conferences. Vendor conferences are on the rise, and with more vendors discovering the credit union industry, they are likely to continue to increase in number and variety. Credit Union Times' 2005 Vendor Calendar offers...

  • ABA Suggests More Tweaks on Trusts, Safekeeping, Referral Fees in SEC Broker/Dealer Exemption Proposal

    WASHINGTON - After two tight-lipped meetings with the SEC, the American Bankers Association has revealed its suggested changes to the SEC on the agency's broker/dealer exemption proposal. At issue is the SEC's Regulation B, which, among other exemptions, would allow credit unions and banks to engage in third-party networking, sweep...

  • For Visa, A Whole Year Boils Down To 45 Days; Processing Becomes Increasingly High-Tech and Real-Time

    SOMEWHERE IN THE MID-ATLANTIC STATES - Science fiction fans would love it. Perched at different stations around a darkened room, casually dressed men and women peer carefully into various screens and monitors. A couple of them wear headsets that they speak into every once in a while in low tones...

  • Doss Moves On From Columbia, Credit Union Says it is Moving Beyond all the Controversy

    VANCOUVER, Wash. - Just over a year after his $660 million Columbia Community Credit Union attempted to change its charter to that of a mutual bank, Columbia CEO David Doss has announced that he is moving on to lead another credit union, this time in Arizona. Doss has been hired...

  • CO-OP Using Falcon Fraud Tool

    ONTARIO, Calif. - The Falcon fraud prevention program, previously only available for credit and debit transactions in which a cardholder uses their signature to authorize their card transactions, is now available for transactions in which cardholders use a personal identification number, according to CO-OP Network. In addition, the nation's largest...

  • AAA Economic Empowerment Summit Set for Feb. 9 in Chairman's Home State

    ALEXANDRIA, Va.-The next Access Across America Economic Empowerment Summit is slated for Feb. 9 in Des Moines, Iowa. The one-day conference is free of charge and all credit unions in Iowa, Illinois, Minnesota, Missouri, Nebraska, South Dakota and Wisconsin were invited to attend. It will focus on federal resources available...

  • Alliant CU Provides Chicago Youth HOPE

    CHICAGO - Alliant Credit Union and Operation HOPE, Inc. (OHI) have teamed up to increase area youth's financial IQ. In February 2005, Alliant CU will send a dozen of its volunteer teachers into Chicago area schools with OHI's "Banking on Our Future" curriculum, which is geared specifically to middle-grade students....

  • CUBICS to Give Way to CubicsPlus as IntegraSys Wraps Up Platform Beta; New .NET Platform Designed to Ease Integration

    FRISCO, Texas - IntegraSys has completed beta testing of its newest core processing platform and is now offering it to the small- and mid-sized credit union market. Called CubicsPlus, the new solution is expected to replace the CUBICS platform IntegraSys had installed in more than 200 credit unions when Fiserv...

  • OSI Adds SecurePipe Security Specialists

    LINCOLNSHIRE, Ill. - SecurePipe Inc., a provider of network security services to more than 200 financial institutions, now will be offering its services to clients of Open Solutions Inc. The agreement will make SecurePipe's suite of services available to the hundreds of credit unions on OSI's homegrown and recently acquired...

  • New England Hearing Looks at Bank Merger Effects

    BOSTON - It was abundantly clear that the number of job losses that occur as a result of bank mergers have been of greatest concern in the New England area. At a Dec. 14 House Financial Services Committee Hearing held here, 11 legislators, bank officials and community development and housing...

  • Jack Henry Looking a Little Like Fiserv with Series of Acquisitions

    MONETT, Mo. - Is Jack Henry & Associates enroute to becoming the next Fiserv? Just like the biggest technology provider in the credit union industry, Jack Henry has been growing by buying, including announcing two acquisitions on the same day in late December, bringing to five the number of companies...

  • One Maryland Credit Union Forms a Special Bond with Soldiers at Fallujah Base

    LEXINGTON PARK, Md.- The staff at Cedar Point Federal Union had no idea a "support the Marines" project shipping food, snacks and sundries to a Fallujah base in Iraq would create such an overwhelming public response - even if this is a Navy town. The undertaking included three tons of...

  • Orange County's Credit Union Creates Chief Political Officer Position to Help Defend CUs

    SANTA ANA, Calif. - With banker attacks against credit unions showing no signs of let-up any time soon, Orange County's Credit Union here has created the position of chief political officer and appointed Adam Denbo, former AVP of technology, to the spot. The chief political officer position was established in...

  • New Regulatory Environment Demands Increased Board Effectiveness and Accountability

    MADISON, Wis. - Shareholder lawsuits and a demanding regulatory environment are forcing all boards of directors - including those of credit unions - to a higher level of accountability and performance. Board effectiveness is no longer a desired goal, it's a necessity. Effective boards share many of the same qualities,...

  • Pennsylvania Banking Secretary Rules in Favor of CU Conversion to Community Charter

    HARRISBURG, Pa. - After almost a year of waiting, Pennsylvania credit unions got a long awaited Christmas present after the state Secretary of Banking handed down a ruling in favor of one state-chartered CU's application to convert to a community charter. In the case concerning TruMark Financial Credit Union, Trevose,...

  • USE CU Member Wins $25,000 in Financial Makeover Contest

    SAN DIEGO - Carmen Guardado, a stay-at-home mom with five young children, got an early and very welcome Christmas present, courtesy of USE Credit Union here. Guardado, a member of the credit union for only seven months, was the $25,000 grand prize winner in USE's "Xtreme Financial Makeover Contest." She...

  • Third Quarter Highlights Show Credit Union Shifting Away from Being "Niche Players"

    WASHINGTON - Third quarter industry data indicated that credit unions are in a "state of equilibrium" as they transform from niche financial players to public financial players. This was the summary of several key highlights for credit union activity within the third quarter, particularly in the areas of total revenue...

  • Southwest Business Corp. Partners with Tech Firm Teres to Enter Competitive Indirect Lending Space

    SAN ANTONIO - Some fellow Texans are getting together to try to make their mark on the indirect auto lending industry in credit union land. Southwest Business Corp. of San Antonio, an established provider of risk management, insurance and technology solutions to more than 600 credit unions for nearly 30...

  • NCUA Will Not Appeal Utah FOM Decision, but Intervenors Still Undecided; CUs Operating Under Temporary Interim FOMs

    ALEXANDRIA, Va.-NCUA will not be appealing Judge Dale Kimball's decision in the Utah field of membership lawsuit to remand the field of membership approvals back to the agency, according to NCUA General Counsel Bob Fenner. "We'll have a more effective and speedier resolution just working within the judge's remand," he...

  • Navy FCU Gives Members with Account Management Problems Second Chance with Fresh Start Checking

    VIENNA, Va. - Members of Navy FCU who have had their checking accounts with the credit union closed because of improper account management are getting a second chance to prove they can demonstrate good money management skills. Navy FCU last month created a Fresh Start Checking account specifically for members...

  • Majority Of Lake Michigan Members Voting Opt For Bank, But Still Not Enough

    GRAND RAPIDS, Mich. - Even though 60% of the members voting in Lake Michigan's attempt to change its charter to that of a mutual bank favored the idea, the proposed move still went down to defeat. Under Michigan law, a state chartered credit union seeking to change its charter must...

  • Lenders Still Need to Get Word Out on Flood Insurance

    WASHINGTON - When Hurricanes Charley, Frances, Ivan and Jeanne roared through Florida last year, they left behind more than a trail of death and damage. They may also have put to rest any notion that flooding "can't happen here." Lena Thompson, a flood insurance program analyst with the Federal Emergency...

  • Key Credit Union Congressional Committees Get Face Lifts

    WASHINGTON-Spots on the House Financial Services and Senate Banking Committees are somewhat up in the air until the 109th Congress is sworn in next year, according to credit union lobbyists. "I was talking to some friends on the Hill, Republicans, and they are waiting to see if the House Financial...

  • NAFCU, CUNA Offer Similar Suggestions to HUD's ANPR on Setting GSEs' Housing Goals During High Refi Periods

    ARLINGTON, Va. - NAFCU and CUNA both commented on HUD's advance notice of proposed rulemaking concerning setting housing goals for Fannie Mae and Freddie Mac during periods of high refinance activity, and the two trade associations offered similar recommendations. In November, HUD finalized a rule requiring the two housing Government...

  • NAFCU Initiates Audio News Release Campaign for Credit Unions

    ARLINGTON, Va.-After NAFCU President and CEO Fred Becker had a successful radio tour earlier this year, the credit union trade association decided to work a similar campaign in at the end of the year. With the help of Medialink, a global leader in news and media services, according to its...

  • NAFCU DNC Event Poster, University NAFCU Brochure Honored

    ARLINGTON, Va.-NAFCU won two silver awards and one bronze for materials the association put out for an event NAFCU co-hosted at the Democratic National Convention and another announcing University NAFCU in the 2004 Association TRENDS All-Media Contest. NAFCU won a silver award for a promotional item, calendar or poster for...

  • JACK OF ALL ACQUISITIONS: Jack Henry Doesn't Hide its Enthusiasm for CU Market; Latest Deals Give it More Cross-sell Firepower

    MONETT, Mo. - Is Jack Henry & Associates enroute to becoming the next Fiserv? Just like the biggest technology provider in the credit union industry, Jack Henry has been growing by buying, including announcing two acquisitions on the same day in late December, bringing to five the number of companies...

  • People's Alliance FCU Remembers the Sick for Holidays

    HAUPPAUGE, N.Y. - People's Alliance Federal Credit Union brought holiday cheer to sick children through the Marty Lyons Foundation toy drive. PAFCU members and staff donated new, unwrapped toys. In addition, the credit union raffled a giant holiday stocking filled with toys and a mini-autographed football signed by Marty. The...

  • Can Using an `Organic' Approach to Boost Membership Work?

    WASHINGTON - For some credit unions, following an organic approach to boosting member numbers may be the way to go. Annual member growth at the end of Sept 30, 2004 was only 2.3%, according to Callahan & Associates, Inc. Almost half of America's credit unions lost members over the previous...

  • FSCC Reports Very Strong 2004

    SAN DIMAS, Calif. - The Financial Service Centers of America did not mention its pending increased cooperation with another shared branching network, the Service Centers Corporation, but nonetheless reported that it did just fine on its own in 2004. In 2004 the network saw 209 new shared branching locations open...

  • Harland Reports 13 CU Core Platform Signings

    ATLANTA - Harland Financial Solutions said it has signed 13 new credit union clients in the past three months to use the company's ULTRADATA and CuServ Evolution core processing platforms. Committing to ULTRADATA are E-Central Credit Union of Pasadena, Calif.; N.A.E. FCU of Chesapeake, Va.; Halliburton Employees' FCU of Duncan,...

  • CO-OP Network Gets First WV Member

    ONTARIO, Calif. - The $137 million Star USA FCU has become the first credit union in West Virginia to join the CO-OP Network, the nation's largest credit union owned fee-free ATM network. "We're constantly striving to better our member services, and the partnership with CO-OP Network allows us to extend...

  • Wescom Credit Union Hosts Christmas Party for Hillsides' Children

    PASADENA, Calif. - Wescom Credit Union employees hosted a Christmas-themed party for 66 Hillsides' children at risk, ranging in age from 7 through 18. Children were delighted to visit with Santa Claus who presented each child and teen with personalized gifts, fulfilling one of their holiday wishes. The event also...

  • April Cruise Cancelled by African-American CU Coalition

    SHREVEPORT, La. - The African-American Credit Union Coalition has cancelled a cruise to the Caribbean that was set to sail on April 3. "Due to the insufficient interest in a cruise during the suggested time period, the board has elected to not pursue the cruise vacation for 2005," a notice...

  • Oregon Merger to Impact Husband, Wife CU CEOs

    MILWAUKIE, Ore. - Electra Central Credit Union and Portland-based Pace Credit Union have announced plans to merge that will see a combined membership base of 35,000 members and assets of nearly $530 million. The merger, scheduled to be complete by October 2005, makes more financial sense than building new branches,...

  • CUMEX Mortgage Service Center Approved to Offer 40-Year Mortgages

    LEXINGTON, Mass. - CUMEX Mortgage Service Center of Lexington, a division of Chittenden Corp. Burlington, Vt. and a provider of mortgage services to credit unions in Massachusetts, Connecticut and Vermont, was approved by Fannie Mae to offer 40-year mortgages through a program the housing Government Sponsored Enterprise is piloting and...

  • Online Resources Closes Deal for Incurrent

    CHANTILLY, Va. - Online Resources Corp. has officially completed its acquisition of privately held Incurrent Solutions Inc., a leading application service provider to credit card issuers. Online Resources provides Internet banking, bill pay and relationship marketing services to more than 700 credit unions, banks and other financial institutions. Incurrent Solutions,...

  • Navy FCU Bids McDonnell Farewell; Welch Column Among Parting Gifts

    VIENNA, Va. - Brian McDonnell's last day as president/CEO of Navy FCU, the world's largest credit union, was Dec. 17. As part of the farewell ceremony given to him by employees, McDonnell was presented an autographed, framed copy of Credit Union Times' Publisher Mike Welch's Sept. 1, 2004 column which...

  • Fiserv Says Goodbye to Securities Clearing

    BROOKFIELD, Wis. - Fiserv is selling off its securities clearing business to Fidelity Investments, likely marking the end of its involvement in securities clearing. Fiserv has signed a definitive agreement to sell its BHC Investments, Inc. to the National Financial unit of Fidelity Investments for approximately $365 million. This deal...

  • Oklahoma, Kansas CUs Form Country's Newest Joint Real Estate Network

    OKLAHOMA CITY - Fifteen credit unions in Oklahoma and Kansas have partnered to form a new credit union real estate network to help increase their market share in mortgage lending. There are already 15 other CUREN groups around the U.S. Bob Dorsa, president of the American Credit Union Mortgage Association,...

  • HVFCU Helps Members Shred Away ID Theft

    POUGHKEEPSIE, N.Y. - Hudson Valley Federal Credit Union lent a helping hand to members in the fight against identity theft by hosting a "Better Shred than Read" event. The over $1.8 billion credit union arranged for self-contained mobile shredding units from a leading document security company at two branch locations....

  • Raines, Howard Out at Fannie Mae; COO Mudd Named Interim CEO

    WASHINGTON - In a not-so-unexpected move to many mortgage lending experts and analysts, Fannie Mae CEO and Chairman Franklin Raines announced his retirement from the agency Dec. 21. Chief Financial Offer J. Timothy Howard resigned the same day. The announcements were the latest developments stemming from the accounting scandal surrounding...

  • CUcorp Enhances Sprint Discount

    NORTHVILLE TOWNSHIP, Mich. - CUcorp, the wholly-owned subsidiary of the Michigan Credit Union League, has enhanced its Sprint PCS Member Discount Plan. Credit union members who are Sprint customers will now receive a 10% discount on all monthly recurring mobile phone charges. They previously received a 5% discount. The discount...

  • Credit Union of Ohio Signs Up with myCUmortgage

    COLUMBUS, Ohio - Members of Credit Union of Ohio will soon be able to apply for home loans online as a result of the CU's new partnership with myCUmortgage. Under the terms of the agreement, CU of Ohio and myCUmortgage will work together to provide mortgage solutions to members. myCUmortgage...

  • Winter Warmth Workers' Credit Union Gift to Needy

    FITCHBURG, Mass. - Workers' Credit Union employees and its members helped make the holidays warm for local children. The credit union collected hats and mittens at every branch to donate to the needy.

  • Aimbridge Enters Subprime Auto Lending Through New Division

    DENVER - Aimbridge Lending is currently testing its new subprime auto lending program that will allow it to offer auto loans to members whose credit scores don't meet their credit union's criteria. The company, a provider of financial products for credit unions, has formed a new division-Member Lending Acceptance-to offer...

  • Kelly Tyler FCU Brings Christmas Cheer to a Lucky Family

    TYLER, Texas - Every year Kelly Tyler Federal Credit Union sponsors one PATH family for Christmas. This year's recipient family was a grandmother raising four grandchildren. Kelly Tyler FCU employees collected enough food to stock the family's pantry for more than three months and raised more than $1,000 to purchase...

  • Credit Unions Wrap Up Holidays Spreading Good Cheer

    WEST PALM BEACH, Fla. - During the holiday season credit unions worked overtime to ensure the community at large felt special. From food and toy drives to donations here's a look at how credit unions truly demonstrated the "people helping people" philosophy:

  • Name Change Slated for CUs Using "Deere"

    WATERLOO, Iowa - There's a name change in the winds for John Deere Community Credit Union by the end of 2005. The move was sparked by a Deere & Company request that the $858 million credit change its name to avoid trademark confusion. Also impacted by the name change request...

  • Edmonds, New President of Maine Senate, Visits Maine Credit Union League

    WESTBROOK, Me. - Newly-elected Maine Senate President Beth Edmonds recently paid the Maine Credit Union League an hour-long visit and used the occasion as an opportunity to meet with the League's President/CEO John Murphy; Governmental & Public Affairs Manager Jon Paradise; Director of Governmental Affairs Quincy Hentzel; and the League...

  • Arizona Congressman Honored by League

    PHOENIX - An Arizona Congressman has been recognized by the Arizona Credit Union System for his support of credit unions. Representative Jim Kolbe, a Republican representing the Eighth District, was recognized at a Dec. 15 ceremony at a shared branch in Tucson attended by staff from Pyramid CU, Tucson Telco...

  • Pacific Service CU Makes Holiday Spirits Bright for Foster Children

    WALNUT CREEK, Calif. - Pacific Service Credit Union filled the Christmas stockings of Bay Area foster children. As part of its Third Annual Holiday Toy Drive, the Foster a Dream organization is providing gift-filled stockings to children in foster care. Pacific Service CU has donated holiday stockings for more than...

  • Bethpage Signs on With Experion for Automated Advice

    MAYNARD, Mass. - Bethpage Federal Credit Union has signed up with Experion Systems, a vendor of automated advice technology, for its tech-based software package including its loan and deposit account advisor series as well as wealth management.

News Briefs

  • PHEAA Tells Sallie Mae "We're Not for Sale"

    HARRISBURG, Pa. - The board of the Pennsylvania Higher Education Assistance Agency (PHEAA), which provides services to over 170 credit unions in the state, unanimously passed a resolution opposing any attempt to sell the agency to Sallie Mae or any for-profit corporation. Last month, Sallie Mae offered to acquire the...

  • NAFCU Economist Taylor on Fox News

    WASHINGTON-During a segment on the improving economy airing on Fox News Channel's Special Report with Brit Hume Dec. 22, NAFCU Senior Economist Jeff Taylor had the opportunity to put his two cents in. The segment, entitled "Is the overall economic outlook for the president's second term favorable or not so...

  • America's Credit Unions Hits the Hula Bowl

    MAUI, Hawaii - College football fans will get their fill of the National Credit Union brand during the 2005 Hula Bowl on January 22. The "America's Credit Unions" logo will not only be on the football field but on players' helmets and jerseys during the football game featuring college all-star...

  • SmartSource Picks up CNBS and Golden Plains CU

    WALLINGFORD, Conn. -SmartSource Solutions, LLC, a wholly-owned technology CUSO of Constitution Corporate Credit Union, is helping improve the Web presence of credit union broker/dealer CNBS and also Golden Plains CU. The CNBS site is getting a new look and improved navigation system. The site features a password-protected area where clients...

  • Eli Lilly FCU Names New CEO

    INDIANAPOLIS - Eli Lilly Federal Credit Union has named Lisa Schlehuber CEO. The former Eli Lilly and Company Global Compensation/Benefits Director will assume her new responsibilities on January 1, 2005. Prior to joining Lilly, Schlehuber held financial leadership positions with Caterpillar, Inc. and Arthur Andersen & Company. Schlehuber has served...

  • NCUA Postpones January Board Meeting

    ALEXANDRIA, Va.-The NCUA Board's monthly meeting was delayed from its usual 10 a.m. start time to 2 p.m. on Jan. 13. The reason is a schedule conflict for NCUA Chairman JoAnn Johnson. Johnson will be attending a meeting of the Financial Literacy and Education Commission the morning of the 13th....

  • OPEIU Local 39 Signs New Deal With CUNA

    MADISON, Wis. -The Office of Professional Employees International Union Local 39 has said all along that there would be few problems shoring up a new collective bargaining agreement with less than 70 unionized employees of CUNA, and the union was right. OPEIU Local 39 Business Manager John Peterson said that...

News

In Other News

  • DONATIONS

    Valley Credit Union, San Jose, Calif., has hosted its 2nd Annual Charity Golf Tournament and raised $21,000 to benefit two local non-profit organizations, Via Rehabilitation Services and InnVision-The Way Home. Major sponsors included San Jose Magazine, State National Insurance Companies, Centrix Financial, The CO-OP Network, Mortgage Outlet and SWBC Insurance...

Tech Bytes

  • Phishing Attacks Growing in Sophistication and Numbers

    SCOTTSDALE, Ariz. - Those phishing e-mails are not only getting more prevalent, they're getting much harder to recognize, even for financial industry insiders. Don't think so? Check out this phishing quiz from Mail Frontiers at http://survey.mailfrontier.com/survey/quiztest.html to see exactly what Cornerstone Advisors' Consultant Tripp Johnson meant when he says, "I...

  • Pacific Community Uses Remote Service to Ensure All Systems Go

    FULLERTON, Calif. - About every 20 minutes or so, some of the high-tech gear at Pacific Community Credit Union gets pinged by a remote server hundreds of miles away. And it's a good thing. That ping is from Dotcom-Monitor, a Minnesota company whose clients pay it to make sure their...

  • Texas CUs Find Happiness by Setting SAIL for Indirect Lending

    AUSTIN, Texas - Two years after it was developed, the SAIL indirect lending solution from Teres Solutions Inc. is now in place in about 24 credit unions, where some are now processing more than $50 million in loans and leases each month, the company says. Austin-based Teres spent much of...

  • XP Systems' Clients Making Move to New IBM Server Technology

    MOORPARK, Calif.- XP Systems said that Corporate America Family Credit Union of Elgin, Ill., is its first client to run the core processor's XP2 system on IBM POWER5 server technology, an upgrade the CU says has quintupled its back-office processing speeds. The $550 million CU has moved from its IBM...

  • eCU Technologies Adds Alert Service to Product Lineup

    HARRISBURG, Pa. - eCU Technologies is now offering an electronic alerts feature for users of the tech CUSO's Internet banking solution. The alerts service is being offered through an alliance with DocuMatix, a Salt Lake City-based provider of online marketing tools and services for credit unions. The service allows credit...

  • Digital Insight Names Tech Financials Veteran as New CFO

    CALABASAS, Calif. - Digital Insight Corp. has hired a veteran of more than 20 years in financial and corporate development to be the Internet banker's new chief financial officer and executive vice president. Paul Pucino had been senior vice president and CFO at Tekelec, a publicly traded developer of telecommunications...

  • Washington State Employees CU Adds OFX Access to Money

    OLYMPIA, Wash. - The 128,000 members of Washington State Employees Credit Union are now able to download account information onto their home PCs and laptops with one click if they are using the Microsoft Money personal finance software. The $1 billion CU has implemented the OFX Server solution from Access...

  • LSI Hits Two Million Loan Application Milestone

    ELGIN, Ill. - USC Credit Union produced the two millionth loan application for Lending Solutions, Inc. LSI reached the one million application mark in the summer of 2001. It took it seven years to reach that milestone, and just three and a half years to process its next million applications....

  • Symitar Signs Tinker, 66 FCUs to Episys Platform

    SAN DIEGO - Symitar has signed a couple major Oklahoma credit unions, including the state's largest, to its Episys core processing platform and enterprise-wide automation solutions, the Jack Henry & Associates subsidiary said. Oklahoma City-based Tinker Federal Credit Union and Bartlesville's 66 Federal Credit Union ($361 million) both currently are...

  • Tulsa Teachers Credit Union Commits to ULTRADATA Platform

    TULSA, Okla. - Tulsa Teachers Credit Union is moving its core processing onto the ULTRADATA platform from Harland Financial Solutions, the company and credit union said. "As a current Harland customer for share drafts, it was easy for us to expand our relationship with a company we have confidence in,"...

  • PSCU Launches Credit Card Online Statement Presentment

    ST. PETERSBURG, Fla. - PSCU Financial Services is now offering secured online delivery of credit card statements to members of the CUSO's more than 500 owner credit unions. The PayLynx Statement Source online presentment service uses CheckFree's iSeries software and has been initially launched at 13 credit unions, representing about...

  • Unused, Redundant, Outdated Software Piles Up in IT Shops, on Networks

    PALO ALTO, Calif. - Got outdated, redundant and otherwise unused or usable software sitting around your credit union? You're not alone. More than 40% of respondents to a survey of business and IT executives by the Business Performance Management (BPM) Forum said that such software drains 10% or more of...

  • Provident CU Deploys QuestSoft Solutions

    LAGUNA HILLS, Calif. - Provident Credit Union will help ensure it follows the complex rules for community lending by deploying the compliance software solutions from QuestSoft. The $1.2 billion CU, which serves the San Francisco and Los Angeles areas, will be using the Laguna Hills company's HMDA RELIEF, CRA RELIEF...

Looking Back

  • Credit Union Times Vol. 12, No. 2 January 10, 2001

    Looking back four years ago finds NCUA Chairman Norman D'Amours resigning under pressure from the White House. The general reaction to the news in CU-land was an overwhelming sense of "it's time for all of us to move on." Though D'Amours' letter did not specifically offer a resignation, its tone...

Opinion

  • Corporate Governance: New Rules of the Road

    The Sarbanes-Oxley Act (SOX) proposes new rules and guidelines to improve corporate governance practices in the USA. Some observers say that the added cost of SOX in time, money and effort is burdensome, while others grumble that all corporations are being made to pay for the sins of a few...

Publisher's Column

  • 2005 Should Be a Very Interesting Year

    The first issue of Credit Union Times in a brand new year can only mean one thing: it is time for me to once again make predictions on what I expect to unfold in the world of credit unions over the next 12 months. So here goes: After years of...

People

  • WEST

    Community One Federal Credit Union, Las Vegas, has named George Schneider IT manager. In addition, Community One Vice-President of Corporate Communications Sidra Kain has been appointed public relations chair for the executive committee of the Community College of Southern Foundation Board of Trustees. Hawaiian Tel Federal Credit Union, Honolulu, President...

  • EAST

    Citadel Federal Credit Union, Thorndale, Pa., has named Matthew Soubik Coatesville manager and Jim McCrudden Citadel's Investment Group program manager/registered representative.

  • VENDORS

    Creditor Resources, Inc., a credit insurance solutions marketer, has named John Kramer senior vice president/business unit leader. Prime Alliance Solutions, Inc., a mortgage solutions credit union service organization, has named W. Robert Hall director of sales/marketing. AmeriCU Mortgage Company, a mortgage provider, has appointed John Teweles president.

  • SOUTHWEST

    Community Credit Union, Plano, Texas, Chairman James McCarley has been elected National Association of Community Credit Union board director. In addition, Vice President/Raymond James Financial Services' Community Investments branch manager Jamie Richardson has been named to the firm's 2005 executive council. Security Service Federal Credit Union, San Antonio, has named...

  • SOUTH

    Southeast Corporate Federal Credit Union, Tallahassee, Fla., has named John M. Alford vice president and legal counsel. Insight Financial Credit Union, Orlando, Fla., has named Debbie Lee Cotton business development executive. Community Financial Credit Union, Springfield, Mo., has promoted Carey Highley to vice-president, financial services; Shana Jahnke to Walnut Lawn...

Letters to the editor

  • Banker Attacks or Not, CU Public Advocacy Vital For all States

    As a past chairman of the California Credit Union League and a co-chairman of the League's 2004 Public Advocacy Task Force, I'd like to expand on Mike Welch's Dec. 15 column, "California/Nevada Does Advertising Campaigns Right." Credit unions and leagues nationwide are recognizing that public advocacy must be an essential...

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