Credit Union Times Magazine January-26, 2005

  • NAFCU Accepting Nominees for 2005 Awards

    ARLINGTON, Va.-NAFCU has announced that it is accepting nominations for three distinct competitions for credit union officials in 2005. "Winners in these competitions represent the elite among credit union leaders and innovators," NAFCU Awards Committee Chair Dave Gilbert, chair of Aberdeen Proving Ground FCU, stated. "Each year we recognize the...

  • Taxpayers Should Know Truth about CU Tax Exemption, NY Banker Asserts

    TROY, N.Y. - The impact of credit unions' tax exemption status should be made clear, because taxpayers can expect to pay "$1.36 billion" in the coming fiscal year as a result, one New York banker recently asserted. In a Jan. 17 letter to the Albany Business Review, John M. Scarchilli,...

  • Shelby Announces 2005 Banking Committee Priorities; Reg Relief on the List

    WASHINGTON-Senate Banking Committee Chairman Richard Shelby (R-Ala.) has announced the committee's agenda for 2005. In making the announcement, the senator stated, "Over the past two years, I have been extremely pleased with the committee's bipartisan ability to address many of the key issues in the areas of financial services, housing...

  • CUNA Mutual Hires Former Fireman's Fund CEO to Lead Company

    MADISON, Wis. -CUNA Mutual Group has gone outside the credit union industry, but within the insurance industry to find its new CEO. The company has named Jeff Post, former president and CEO of Fireman's Fund Insurance Company, Novato, Calif., as its new CEO. He started on Jan. 17. Fireman's Fund...

  • Member Business Lending Symposium Promises Hot Topic Coverage

    SCOTTSDALE, Ariz. - A number of business services heavyweights will be in attendance at this year's Member Business Lending Symposium here to weigh in on a range of pressing industry topics. The conference, sponsored by the California Credit Union League and Business Partners, LLC, marks its fifth year and will...

  • Bill would only affect 14 credit unions, but could be viewed as precedent setting for other states.

    PORTLAND, Me. - Will 2005 be a repeat of the 1994 credit union tax battle in Maine? The Maine Credit Union League is hoping it won't be necessary to pull out all the stops like it did 11 years ago to defeat a credit union tax measure recently initiated by...

  • Benefit-Funding Clarity May Give FCUs More Leeway in Recruiting, Keeping Executives

    ALEXANDRIA, Va. - Clarity on benefit-funding options from NCUA may give federally-chartered credit unions more ways to woo, hire and keep executive talent. A number of firms including Executive Compensation Solutions (ECS), an executive benefits design firm, asked NCUA if FCUs can invest in life insurance products to fund executive...

  • Anti-CU Resolution may Move Speedily in Utah House; Lawmakers Weary of Battle

    SALT LAKE CITY - With strong influence from the banking lobby, the Utah legislature appeared to be moving quickly last week to adopt that controversial resolution asking Congress to intervene in the state's acrimonious bank/CU fight over tax exemption and field of membership expansion. Early on, however, the Utah League...

  • Embezzlement Cases Alleged at Two Wisconsin CUs

    TWO RIVERS, Wis. - Embezzlement charges are expected against employees of two credit unions, Shoreline CU and Two Rivers Community CU here in unrelated crimes. According to the Two Rivers Police Department, it was contacted on Dec. 20, 2004, to investigate a theft of approximately $12,000 from Shoreline Credit Union....

  • NAFCU Gets to Know New Speaker of the House

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  • Dupaco Community CU Returns to CUNA Mutual for Bond Coverage

    DUBUQUE, Iowa - It may have taken six years but Dupaco Community Credit Union has once again tapped CUNA Mutual Group for its Credit Union Bond and Special Insurance package programs. According to Dupaco CCU CEO Robert Hoefer, the reason he left six years ago is because at the time...

  • Look Who's Turning 20

    CINCINATTI - Architectural design/build firm DEI Incorporated is celebrating its 20th this year. Founded in 1985 as Design, Equipment and Interiors by owners Richard and Cynthia Grow, in 1997 the firm changed its name to Design, Ethics and Innovation to reflect the way it does business. Changing the name was...

  • Operation HOPE Leader Selected as Young Global Leader

    LOS ANGELES-John Bryant, founder, chairman, and CEO of Operation Hope, Inc., was selected along with 237 other young leaders around the world to participate in The Forum of Young Global Leaders. The forum, comprised of leaders under 40, will work closely with the World Economic Forum, imparting their knowledge and...

  • NCUA Appears Open to Additional, Specific Conversion Disclosures

    ALEXANDRIA, Va. - NCUA appeared open to requiring credit unions seeking to convert to mutual bank charters to disclose the names of the recipients of funds it is spending on the conversion effort as well as whether any of the consultants the credit union is using has opened up accounts...

  • B&W FCU Will Retain Name, Remain in Midstate Georgia Despite Sponsor's Factory Closing

    MACON, Ga. - Brown & Williamson Tobacco Corp. may have merged with R.J. Reynolds Tobacco Co. and intend to close its Macon factory next year, but that won't spell the end for B&W FCU having a presence in the city. By the time the company relocates its factory here by...

  • Number of potential members added in underserved areas rises as areas adopted declines.

    ALEXANDRIA, Va.-While the number of credit unions adopting underserved areas has declined in the last three years, the number of potential members added in these areas has increased. According to NCUA's Insurance Reports of Activity, the number of potential members adopted in underserved areas in 2004 outpaced totals from 2002...

  • NASCUS Maintains that Private Insurance Disclosure Reg Preempts State Control

    ARLINGTON, Va.-Despite accommodations made to concerns from the credit union industry, NASCUS continues to feel that NCUA's final regulation on disclosures for conversions to private insurance violates states' rights. In a statement following the Jan. 13 NCUA Board meeting, NASCUS noted its appreciation for NCUA's willingness to listen to comments...

  • Paur: Pulse, Discover Merger Promises New Products, Benefits for Credit Unions

    HOUSTON - When the 4,100 member financial institutions in the Pulse EFT Association, about 1,000 of which are credit unions, voted to approve the merger with Discover, they voted for grafting greater products and opportunities onto a long established and solid relationship, according to Stan Paur, CEO of Pulse. "What...

  • WesCorp Spearheads New CUSO Made up of Large Industry Players

    SAN DIMAS, Calif. - WesCorp, the nation's largest corporate credit union, spearheaded the formation of a new CUSO designed to bring new products and services to the credit union market. In addition to WesCorp, the CUSO -dubbed Procura LLC - includes Credit Union Financial Services Limited Partnership (CUFSLP consists of...

  • Twenty-four CULAC Trustees Selected for Two-Year Terms

    WASHINGTON-The executive committee of CUNA's political action committee has confirmed 24 trustees to the Credit Union Legislative Action Council for two-year terms. CUNA Vice President for Political Affairs Richard Gose explained that CULAC has trustees from every state, which are nominated by the state leagues based on their political activity....

  • Missouri Farmers Union Forms CU, First New CU in State in Seven Years

    JEFFERSON CITY, Mo. - Members of the Missouri Farmers Union have decided they needed a credit union of their own, and if everything continues to go as planned that's just what they'll soon have. MFU received its certificates of approval and organization from the Missouri Department of Economic Development's Division...

  • CUNA Foresees Tapering Loan Growth, Slow Savings, and Continued Falling ROA for 2005

    WASHINGTON-CUNA economists have predicted more of the same for 2005. According to CUNA's Economic and Credit Union 2005 Forecast, credit union savings growth will continue to trudge along in 2005, likely around 6%. Stronger economic growth, which the economists project will be around 3.6%, will ease members' concerns over job...

  • Financial Education Commission Meeting Focused on Best Practices

    WASHINGTON-The fourth meeting of the Financial Literacy and Education Commission featured representatives from numerous groups discussing best practices in financial education. Guest speakers on the subject included Securities and Exchange Commission Director for Investor Education Susan Ferris Wyderko; Citigroup Director of the Office of Financial Education Dara Duguay; Students In...

  • Credit Union Groups Take Part in Inauguration Celebrating Democracy

    WASHINGTON-Inaugural activities last week were crawling with credit union representatives eager to celebrate democracy. "The inauguration of the president is truly a recognition and commemoration of the democratic principles on which the United States was founded, and I believe that it's important to the nation to celebrate those events appropriately....

  • Critical first step involves reassuring Federal Reserve that the arrangement is fully disclosed and on the up and up.

    ATLANTA - On its surface, the concept of converting non-interest earning assets to those that actually earn interest and reduce the reserve requirements at the Federal Reserve Banks and be in compliance, sounds almost too good to be true. But a number of credit unions are doing just that through...

  • Finley Takes Baton from Bianchini as President/ CEO of Oklahoma League

    TULSA, Okla. - The fact that Lisa Finley has known for two years that she was the incoming president/CEO of the Oklahoma Credit Union League hasn't diminished the importance of the transition for her or her appreciation of the fact that she is now a member of the small but...

  • Massachusetts Credit Unions Pool Resources to Launch Northeast Member Business Services CUSO

    KEENE, N.H. - New England credit unions will soon have another business services CUSO option to choose from. Four credit unions have aligned to provide more than $1.6 million in initial capital to launch Northeast Member Business Services, a business services CUSO. The credit union owners are $476 million Workers...

  • MBNA Sued Over Policies with New Amex Credit Card: Retailers Allege a Similar Policy to One That Visa and Mastercard Used

    NEW YORK - MBNA, a leading purchaser of credit union credit card portfolios and one of two national banks in the United State which can currently issue American Express credit cards, has been sued by a retail association and other retailers over those cards. The suit, brought in the U.S...

  • Intra-Generational Loans: Good Intentions, but All in the Family May Not Always be Good Idea

    VANCOUVER, British Columbia - At first glance, it seems like a good idea. Your member, George, wants to earn more money on his savings. His son, Mike, wants to buy a home. So George will loan Mike the money to buy the house and Mike will repay George. The number...

  • First Choice CU Caught in Media Controversy Over "Mantrap"

    WEST PALM BEACH, Fla. - First Choice Credit Union's security measures recently became fodder for local media here. At issue, the credit union's use of its entrance control system also called a "man-trap". The man-trap is designed to trap would-be robbers before they gain entrance to the credit union. It...

  • Recovery in Brokerage Business for CUs, Banks Thwarted by Revenue Drop

    ST. PETERSBURG, Fla. - A drop in revenue for the securities brokerage business halted a recovery that kicked in during October 2004. Credit unions and banks saw a 17% decrease in brokerage revenue in November 2004, according to the Kehrer-Raymond James Community Bank Brokerage Study, a monthly survey of CUs...

  • Wescom CU Makes Life Easier for Southern California Storm Victims

    PASADENA, Calif. - To lend a helping hand to members impacted by recent Southern California storms and subsequent mudslides, Wescom Credit Union has made emergency financial assistance available. "Assistance is available to our members, including interest free loans, deferred payments to those sustaining property damage or loss, free replacement checks,...

  • Members Choice CU President Joins Texas CU Commission

    AUSTIN, Texas - Barbara Sheffield, president/CEO of Members Choice CU, Houston, was appointed to the Texas Credit Union Commission by Gov. Rick Perry. Created by an act of legislation in 1997, the nine-member commission includes five public and four credit union industry members. No bank, savings bank or savings &...

  • Victory Junction Highlights Fund Raising at Carolina Foundation

    GREENSBORO, N.C. - More than $610,000 has now been raised by the Carolinas Credit Union Foundation to help fund Victory Junction Gang Camp, the facility opened in 2004 to provide joy and medical treatments for seriously ill youngsters. "While the foundation is active in many projects that benefit credit unions...

  • PSCU Extends Contracts With Three Big Ones

    ST. PETERSBURG, Fla. - Three multi-billion dollar credit unions have recently signed processing extensions with PSCU Financial Services, the card processing firm which serves over 500 credit unions which process their transactions through First Data Corp. The three are the $7 billion Pentagon FCU, headquartered in Alexandria, Virginia; the $1.4...

  • SBA Redesigns Small Business Research Site

    WASHINGTON - The SBA said the recent redesign of its Office of Advocacy Web site will allow visitors to access more small business research and statistics faster. The site, www.sba.gov/advo, offers intuitive, easy to use menus and search features that guide users to a wealth of data, reports, and statistics...

  • Munn Named Director of Nebraska Department of Banking & Finance

    LINCOLN, Neb. - Gov. Mike Johanns named John Munn to succeed Sam Baird as director of the Nebraska Department of Banking & Finance, effective Jan. 18. Baird retired at the end of 2004. The Nebraska Department of Banking & Finance regulates the state's licensed financial institutions and mortgage lenders including...

  • WOCCU Continues to Assess Tsunami Damage

    COLOMBO, Sri Lanka-The World Council of Credit Unions has sent a two-man team to help assess the damage to credit unions in Sri Lanka and provide assistance. WOCCU-Uzbekistan Project Director Normunds Mizis and John Ikeda, project development manager, met with credit union representatives in the capital city of Colombo to...

  • NAFCU Generally Backs Treasury Interim Rule on Check 21 Application

    ARLINGTON. Va.-NAFCU basically supported the Treasury Department's interim final rule regarding the application of Check 21 to Treasury checks despite redundant safekeeping measures. In a comment letter from President and CEO Fred Becker, NAFCU stated its support for permitting financial institutions to present substituted checks instead of paper originals. Treasury's...

  • Certegy Heading Down to Florida

    ST. PETERSBURG, Fla. - Certegy, the card processing firm for about 2,000 credit unions across the country, has moved most of its headquarters jobs from its facility in the Atlanta, Georgia area to St. Petersburg, Florida. "Moving the corporate headquarters closer to our primary business operation is a natural step...

  • Delaware CU Logs 300 Volunteer Hours in 2004

    DOVER, Del. - Dover Federal Credit Union has decided it might not be a bad idea to keep track of employee hours spent on charity and volunteer work and let the community know about such contributions. "We were pleased to find we provided 300 hours during 2004," said David Clendaniel,...

  • Triton Marks Very Successful 2004

    LONG BEACH, Miss. - Triton, the ATM manufacturer traditionally associated with primarily cash dispensing machines but which has also broadened its scope to include full-service machines popular with financial institutions, reported having a record breaking year in 2004. The firm shipped more than 20,000 ATMs in 2004, an increase of...

  • Point West CU Donates to Tsunami Relief

    PORTLAND, Ore. - Point West Credit Union has helped raise $3,619.00 for Tsunami relief in South Asia. The $91 million credit union, which committed to match the first $1,000 donated by members during a two week time period in early January, reached that goal in just five business days. Point...

  • CUNA Staffers Invited to Volunteer During Inaugural Events

    WASHINGTON-CUNA's connections run deep. Two CUNA staffers, Legislative Affairs Manager Linda Gualtieri and Political Programs Assistant Iojana Safarik, had been asked by the Presidential Inaugural Committee to volunteer during inaugural events going on last Thursday. At deadline, the two were not sure what their assignments would be, only to report...

  • Americans Shelled Out Billions in Card Fees In 2004

    ARLINGTON, Va. - In a development which some credit union card issuers might incorporate into their card marketing programs, the nationwide move to higher credit card fees continued in 2004. Cardweb.com has reported that Americans shelled out billions in credit card fees last year. The site (http://www.cardweb.com) tracks credit card...

  • Landmark CU "Back the Pack" for Tsunami Relief

    NEW BERLIN, Wis. - Landmark Credit Union staffers helped raise money for tsunami victims by sporting Green Bay Packers apparel. Staffers who contributed at least $5 to the Red Cross Tsunami Relief Fund were allowed to "dress down" in their favorite Packers gear. Landmark CU also encouraged donations by offering...

  • Four Ohio Credit Unions Join AIL-Ohio Auto Financing Network

    COLUMBUS, Ohio - Four credit unions in southwest Ohio have signed on to AIL-Ohio, an indirect auto financing network jointly owned by Aimbridge Indirect Lending, the Ohio Credit Union League's OCUL Service Corp., and several Ohio CUs. The four credit unions include Sharefax CU, Batavia; Dayton Firefighters FCU, Dayton; Greenhills...

  • Atlantic Credit Union Honored with MEMBERS Financial Services Program Award

    SAN DIEGO - Atlantic Credit Union recently took home the MEMBERS Financial Services Program of the Year accolade. The $290 million Newtown, Pa.-based credit union was recognized at CUNA Mutual Group's annual MEMBERS Financial Services Users meeting held here last week. Atlantic's "vision and strategy not only address the current...

  • Court says GLB Preempts State Law, Allows National Banks to Offer Insurance in Massachusetts

    BOSTON - A ruling by the U.S. District Court of Massachusetts has closed the book on an almost five-year old case that has concluded with the court finding that federal law preempts state laws and allows national banks to offer insurance products in the state. The case stems from a...

  • Profits Up 41% at B of A

    NEW YORK - Bank of America experienced a 41% increase in fourth-quarter 2004 profits, according to a report from Reuters. Consumer banking fees and the purchase of FleetBoston Financial Corp. at $48 billion last April aided the significant increase over fourth-quarter last year, the wire service reported. Bank of America's...

  • Houston Association of Realtors CU, First Service CU Merge

    HOUSTON - The Texas Credit Union Department has approved a merger between First Service Credit Union and the Houston Association of Realtors Credit Union (HARCU). The over $8 million HARCU was established in 1963 to serve the members and affiliate members of the Houston Association of Realtors. "This merger is...

  • Desert Schools FCU Donates $175,000 to CMN

    PHOENIX - Desert Schools Federal Credit Union members and staffers have literally "nickeled and dimed" their way to a 2004 donation totaling $175,000 to benefit the Children's Miracle Network. According to Desert Schools FCU Senior Director of Marketing Jamie Boyer, it wasn't one event or contribution that fueled the generosity....

  • CU Direct Making Plans for 7th Annual Auto Lending Symposium

    RANCHO CUCAMONGA, Calif. - CU Direct Corp., administrator of the Credit Union Direct Lending system, will hold its 7th Annual Auto Lending Symposium June 22-24. The three-day event will be held at the Venetian Resort Hotel & Casino in Las Vegas and is open to all credit unions with an...

  • Commercial Real Estate Beckons Former Mid American CU CEO

    WICHITA, Kan. - Lowell Richardson, the former Mid American CU president/CEO, has shifted gears towards commercial real estate. Richardson, who retired from the $123 million credit union on Dec. 31, has joined John T. Arnold Associates Inc. here as director of operations. Founded in 1971, the firm specializes in industrial...

  • Cabrillo CU Credit Card Points Help Disaster Relief Efforts

    SAN DIEGO - Cabrillo Credit Union has developed a special donation program that will allow members to turn their Gold MasterCard ScoreCard points into donations. For the first time, the credit card's accumulated points that traditionally have only been used for travel and gift redemption, can be used to make...

  • WellSpan FCU, First Capital FCU Merge

    YORK, Pa. - Effective February 1, 2005, WellSpan Federal Credit Union and First Capital Federal Credit Union will merge. "We are pleased to welcome WellSpan FCU members to our family, and look forward to bringing them the high-quality service all our members currently enjoy," said First Capital FCU President/CEO Dennis...

In Other News

  • DONATIONS

    Security Service Federal Credit Union, San Antonio, has helped raise over $85,000 for the San Antonio Children's shelter. Proving that spare change can lead to big donations, the two-day KONO Radiothon fundraiser resulted in more than $4,500 collected in just coin. SSFCU provided coin counter bins for the event. Mid-Minnesota...

  • MILESTONES

    St. Vrain Valley Credit Union, Longmont, Colo., has recently celebrated its 50th Anniversary. For the past 50 years the credit union has continually expanded its services based on members' needs. Today the St. Vrain Valley CU has over $60 million in assets and operates out of a 6,500 square-foot facility....

News

News Briefs

  • North Carolina's State Employees CU Partners with MEMBERS Trust

    RALEIGH, N.C. - State Employees Credit Union, the second largest in the nation, has aligned with MEMBERS Trust Co. to bring trust services to its members. The $12 billion credit union has made an initial investment of $l million with MEMBERS Trust, the national trust cooperative launched in November 2003...

  • Financial Partners FCU Taps Nader Moghaddam as New CEO

    DOWNEY, Calif. - Nader Moghaddam has joined Financial Partners Credit Union as its new president/CEO. Moghaddam will take the reins from board member Joe Spetz who for the past year, has guided the $619 million credit union as interim CEO. Prior to joining Financial Partners, Moghaddam worked at Kinecta Federal...

  • Colorado Financial Services Commissioner Spot Still Vacant

    DENVER - Four months after former Colorado Financial Services Commissioner David Paul retired from the position he'd occupied for 27 years, the civil service position remains unfilled. Paul retired Oct. 31. The executive director of regulatory agencies Tambor Williams is conducting a search for his replacement. Meanwhile, former deputy commissioner...

  • "New Markets, New Members, and New Business" Focus of Next PALS Workshop

    ALEXANDRIA, Va.-The next Partnering and Leadership Successes workshop is slated for April 28 in St. Louis, NCUA Board Member Debbie Matz announced last week. The workshop is free of charge for credit unions of all shapes and sizes. It is aimed at helping credit unions reach "New Markets, New Members,...

  • Zimmerman Announces Departure from NAFCU, Heading to Cyprus

    ARLINGTON, Va.- NAFCU Communications Manager John Zimmerman recently announced that he would be leaving the trade association's public relations team to move overseas. Zimmerman will be leaving NAFCU February 11 to prepare for a move to Cyprus. His wife, Jane, serves in the State Department and has been given a...

  • Nation's 42nd Treasurer Sworn In

    WASHINGTON-Treasury Secretary John Snow was slated to swear in the 42nd Treasurer of the United States at press time. Anna Escobedo Cabral was to be sworn in at Treasury's Cash Room last week. As Treasurer, Cabral will advise the secretary, deputy secretary, director of the United States Mint, and the...

Marketing

  • NuVision Financial CU Launches Adventurous Marketing Campaign

    HUNTINGTON Beach, Calif. - nuVision Financial Federal Credit Union has revved up its marketing strategy for 2005. The $657 million credit union has become the exclusive financial services partner to cable television's The Outdoor Life Network show Adventure Highway with Tom Holm. The deal, which covers four episodes, leverages television...

  • Broward Schools CU Shines Light on New Name

    SUNRISE, Fla. - Broward Schools Credit Union is counting on a name change to BrightStar Credit Union to help honor its educational roots while appealing to the entire South Florida community. "We're still the same great credit union-owned by the same folks, our members-and with the same friendly staff," said...

Tech Bytes

  • Intrusion Inc. Introduces New Internet Traffic Monitor to Small FSI Market

    RICHARDSON, Texas - For $7,995, a credit union can quickly deploy a new piece of high-tech hardware its producer maintains will help it both protect private data and comply with government regulations. Richardson-based Intrusion Inc. said its new Compliance Commander regulated-information monitor (RIM) is specifically designed for smaller credit unions...

  • eCU Technologies Looks Back, Looks Ahead with Tech Offerings for CUs

    HARRISBURG, Pa. - The past year was a good one for eCU Technologies, as the technology CUSO of Pennsylvania State Employees Credit Union doubled its client base while adding staff and new services. The three-year-old CUSO signed 35 credit unions in 2004, bringing the total client base to 72, and...

  • CUNA Mutual Joins New Credit Union Information Security Professionals Group

    AUSTIN, Texas - The fledgling Credit Union Information Security Professionals Association has added a big name to its growing list of affiliate members - CUNA Mutual Group. The industry support group was formed late last year and has been having a series of meetings around the country bringing credit union...

  • ID Theft Information Valued by Respondents to Callahan Survey

    WASHINGTON - Credit unions that want to connect content with their members' concerns could do worse than providing information about identity theft. According to the Callahan & Associates Survey Consortium, 79% of the 18,000 respondents to a recent survey of online members of participating credit unions said ways to protect...

  • CUNA Mutual Adds Online IRA Training

    MADISON, Wis. - CUNA Mutual Group has launched a new online training program for credit union staff to learn the basics about individual retirement accounts. IRA E-Learning allows credit union staff to get IRA training when they want it, giving them control over their own learning from any Internet connection,...

  • FinCEN Broadens Scope of Web-Based PATRIOT Act Reporting System

    WASHINGTON-The Financial Crimes Enforcement Network is shifting a small pilot program initiated for information sharing between financial institutions and law enforcement into full-scale practice. FinCEN is expanding the number of institutions it is inviting to participate in the gradual adaptation of a more tech-savvy delivery and reporting system in February...

  • HomeCU Adds Three Check Image Vendors to List, Now Integrates with 21

    BOISE, Idaho - Database Management Services (DMS) has integrated its HomeCU Internet banking service with three new check image vendors, bringing to 21 the number on its list of check imagers. The new additions are the Federal Reserve's FedImage, Volunteer Corporate CU and Palmetto Cooperative Services. "In the past year,...

  • Digital Mailer's 04 Highlights

    HERNDON, Va. - Credit union digital communications firm DigitalMailer said it has eclipsed numerous milestones in 2004. DigitalMailer's client credit unions now serve over 1.5 million members and have combined assets in excess of $10 billion. "The best part about the past year was watching our clients grow their online...

  • Andera Adds Six More CUs For Online Account Opening

    PROVIDENCE, R.I. - Six more credit unions have signed with Andera Inc. to use the Providence-based company's New Accounts Online Web-based enrollment and account-opening solution, the company said. They are $573 million American First FCU of La Habra, Calif., $265 million Jax FCU of Jacksonville, Fla.; $180 million FAA Eastern...

Special Report

  • Relationships Count in Building Facilities, Brands in Hawaii

    SEATTLE - When it comes to building in the paradise that is Hawaii the greatest challenge for mainland design/build firms could be just finding an "in". "This is a society of strong relationships, extremely friendly people who have strong ties to local businesses," said Emick, Howard, Seibert Principal Paul Seibert....

  • WPCCU, El Rescate and No Borders/Sin Fronteras Team Up to Serve Latino Community

    LOS ANGELES - Water and Power Community Credit Union has joined forces with non-profit El Rescate and No Borders/Sin Fronteras, which provides low-cost remittances and telephone communications between the United States and Latin America, to serve the Latino community of Pico Union here with a mini branch. "This alliance will...

  • MCT FCU Glen Haven Branch Open for Business

    GAITHERSBURG, Md. -The MCT Federal Credit Union branch at Glen Haven Elementary School in Silver Spring has opened its doors for business. Fifth-grade students tapped to work as tellers to process transactions include (from left) Megan Cissel, Martha Lee, Luis Gutierrez, Benjamin Lam, Bianca Hicks, Alexa Pereira, Rosa Gutierrez, and...

  • Bayer FCU, Chiphone FCU Take Home Fairbanks Award

    ELKHART, Ind. - The Business Recognition Council of the Elkhart County Chamber of Commerce has presented the partnership branch of Bayer Federal Credit Union and Chiphone Federal Credit Union a Fairbanks Award. The Fairbanks Award is for those organizations that make an effort to improve existing or new property with...

Letters to the editor

  • Technology, Partnerships Can Help Small CUs Provide Full-Service

    As the CEO of a very small credit union, I wish to comment on Mike Welch's Jan. 12 column, "Waving the Flag for Small CUs Not Smart." While I agree 100% that Navy Federal is just as much a "credit union" as we are, I believe very strongly that there...

  • Don't Forgot About CUSC

    I always enjoy reading Mike Welch's columns, but I was particularly enlightened by his Dec. 8 column entitled "There are lots of Good and Bad ideas Involving CUs." His comments regarding shared branching were interesting, but it appears that, unintentionally, the discussion left the impression that "the two major" shared...

  • Welch Said What Many Think

    I applaud Mike Welch's Jan. 12 column "Waving the Flag for Small CUs Not Smart." It was excellent and just what needed to be said. I hope NCUA Board member Debbie Matz and others within the movement will take heed. As you know the fight is fierce here in Utah...

Opinion

  • Regulatory Relief a Top Priority for NAFCU in 2005

    Each new Congress presents unique opportunities and challenges, and the 109th Congress that was gaveled into session on Jan. 4 is likely to be no different. NAFCU's leaders and lobbyists were fortunate to meet with many key legislators when they returned; and though I am not one to make predictions,...

Publisher's Column

  • Despite Growing Need, PR Expertise In Short Supply

    Credit unions and the multitude of state and national organizations that serve them do a lot of things right. Assigning high priority to professional public relations programs is not one of them. As a result, the credit union industry is missing countless golden opportunities to put their collective best foot...

People

  • SOUTH

    Southeast Corporate Federal Credit Union, Board Secretary/Mississippi Telco Federal Credit Union President/CEO Joe Mangum has resigned from the board. The Board of Directors has appointed Gulf Winds FCU President/CEO Chris Rutledge, to fill the vacancy. Rutledge will also continue in his role as chairman of the supervisory committee. Jax Federal...

  • EAST

    HarborOne Credit Union, Brockton, Mass., has named Irina Galiouk to Canton assistant branch manager. Mid-Atlantic Federal Credit Union, Gaithersburg, has named Rick Wieczorek vice president/chief financial officer and David Perez Rockville branch manager.

  • MIDWEST

    CEFCU, Peoria, Ill., has named Shay Bruns dealer credit manager; Jennifer Cunningham Bloomington member center cash operations manager; and Brenda Dunbar Peoria Airport Member Center cash operations manger.

  • SOUTHWEST

    FivePoint Federal Credit Union, Port Arthur, Texas, has promoted the following employees: Vicki Oubre to call center assistant vice president; Amanda LaBarge to teller manager; Darla Sclerandi to Beaumont assistant store manager; Kristi Whisenant to Bridge City store manager; and Lisa Conrad to assistant vice president of member services. In...

  • WEST

    Denali Alaskan Federal Credit Union, Anchorage, Alaska, has promoted Judie Miller to assistant vice president, electronic services. Wyoming Employees Federal Credit Union, Cheyenne, has promoted K. Lew Stubbs to senior vice president of lending. Community One Federal Credit Union, Las Vegas, has named George Schneider information technology manager. Travis Credit...

Opinions

  • Business Strategies Drive Technology at Today's Successful CUs

    During the late 1980s and 1990s, much of business strategy, especially for credit unions, was driven by the rapid development of technology. The speed with which technology was changing the way we do business was fueled by the advent of the Internet. During the 1990s credit unions began creating Web...

Quotes Worth Quoting

  • Quotes Worth Quoting

    "We had supported NCUA's proposed rule on private insurance conversions. We did make some suggestions in our comment letter that were not subsequently incorporated into the final rule, but I think overall we think NCUA did a good job on this rule. Whether or not it is helpful really remains...

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