Credit Union Times Magazine July-13, 2005

  • Five Have Held the Top Job at NAFCU

    Five gentlemen have the distinction of having served as CEO of NAFCU. While two are officially retired, two others are still working with credit unions, while current NAFCU CEO Fred Becker is in his fifth year at the helm. Credit Union Times offers this update on what these CEOs are...

  • From MBLs to Membership Growth, NCUA Board Members Tackle Hot Button Issues

    ALEXANDRIA, Va. - The NCUA Board members deal with pressing credit union issues everyday. Here are their thoughts on some of the major credit union issues du jour. Membership Growth NCUA has raised some concerns about a stagnant rate of membership growth. "I believe credit unions are responding, certainly with...

  • Experts Dispute Whether There is a Housing Bubble, but Federal Regulators Taking No Chances on Risks

    WEST PALM BEACH, Fla. - The advent and growing popularity of new mortgage products such as interest-only loans and 40-year mortgages have helped more consumers buy homes and fueled climbing home sales and prices in the purchase market. But rising home prices and sales also have raised the red flag...

  • Dupaco CCU Sees Little Hassle in FirstHome Program

    WEST DES MOINES, Iowa - Some credit unions shy away from the FirstHome program because they fear a lot of red tape and hassle, but Dennis Beadle insists that's no longer true. Beadle should know. He's VP/mortgage lending at Dupaco Community Credit Union. In May the credit union won honors...

  • Do Members Really get Hurt and do Insiders Really get Rich in a Credit Union to Bank Conversion?

    I continue to read Credit Union Times with great interest how national credit union trade groups, local leagues, credit union executives and the NCUA all know what is in store for the credit union members in a bank conversion and how they have vowed to protect them from this dastardly...

  • German Intern Helps Mission Fed Refine "die Operations"

    SAN DIEGO- Inviting local students to gain experience in internship programs is nothing unusual for a credit union. But Mission Federal Credit Union's intern this spring is hardly local, nor does he lack financial services experience. Achim Heyland arrived in San Diego from Munich, Germany, and has been working for...

  • House Financial Services Subcommittee Holds Hearing on Zero-Downpayment Pilot

    WASHINGTON - The Housing and Community Opportunity Subcommittee of the House Financial Services Committee held a hearing June 30 on proposed legislation to create a pilot program for zero-downpayment mortgages. The hearing focused on H.R. 3043 introduced by Reps. Patric Tiberi (R-Ohio ) and David Scott (D-Ga.) to set up...

  • Louisiana Credit Unions Rollin' on the River at 71st Annual Meeting

    NEW ORLEANS - "Best convention ever" are the buzzwords League officials used to describe Louisiana Credit Union League's 71st Annual Meeting and Convention June 22-25. Admittedly, the phrase has been used before, but it was management's way of expressing how smoothly the event went for the approximately 450 credit union...

  • May CU Savings and Loan Growth `Weird,' Delinquencies `Odd'

    WASHINGTON-CUNA Chief Economist Bill Hampel had one word for credit union savings and loan activity in May: weird. "Typically the first third of the year is when all the savings come into credit unions and loan demand is kind of sluggish," he said. "Then, in the middle of the year...

  • Longtime CU Critic Woodstock Institute Finds CU Card Practices Better Than Banks

    CHICAGO - The Woodstock Institute, a sometime critic of mainstream credit unions and a member of the National Community Reinvestment Coalition, has issued a report on bank and credit union credit cards which praises credit unions overall for their card behavior. The think tank's survey found that while cards issued...

  • It's Official-Vermont CU Modernization Statute Becomes Law

    MONTPELIER, Vt.-With H.149, Vermont's modernized credit union legislation, officially becoming law at 12 a.m. on July 1, 2005, state-chartered credit unions now are eligible to participate in a variety of new services and procedures ranging from business lending to expanded fields of membership. Although there was little or nothing the...

  • IRAs at Credit Unions May Reap Benefits of Social Security Reform Inclusion, CUNA tells House Committee

    WASHINGTON - If legislation passes that would allow Americans to direct a portion of their payroll taxes in accounts as part of Social Security reform, credit unions might see a significant increase in their Individual Retirement Account activity. Speaking on behalf of CUNA, David Brock, president/CEO of Community Educators Credit...

  • DOL Savings Summit Should Target Military Personnel, Low-Income, NAFCU Says

    ARLINGTON, Va. - NAFCU is hoping its input for a summit on retirement savings will go a long way in boosting participation. The Department of Labor (DOL) will hold its third National Summit on Retirement Savings in March 2006 and recently asked for suggestions on topics to be included on...

  • CUs Feel the Pinch as Yield Curves Squeeze Together

    ARLINGTON, Va.-At the June meeting of the Federal Open Market Committee the committee raised rates 25 basis points to 3.25%. While the recent increases have driven up short-term rates, long-term rates have remained relatively flat. In fact, the FOMC has raised the target funds rate 225 basis points but 10-year...

  • CURIA Co-Sponsorship Jumps to 74 Before July 4th Recess

    WASHINGTON-The Credit Union Regulatory Improvements Act (H.R. 2317) has garnered the support of 74 lawmakers. New to the bill since our last printing are Representatives Stephanie Herseth (D-S.D.), George Radanovich (R-Calif.), Al Wynn (D-Md.) and Ric Keller (R-Fla.). Herseth had also co-sponsored the bill in the 108th Congress. The credit...

  • CUNA, NAFCU Suggest Changes to CAN-SPAM Rule

    WASHINGTON-CUNA and NAFCU have written the Federal Trade Commission recommending modifications to its proposal implementing the 2003 Controlling the Assault of Non-Solicited Pornography and Marketing (CAN-SPAM) Act. The CAN-SPAM Act requires that commercial e-mail messages clearly and conspicuously designate it as such, provide recipients an opportunity to "opt-out," and provide...

  • CU Jury says NCUA's Concern with Subprime Indirect Lending Valid, "Nothing Sinister"

    WEST PALM BEACH, Fla. - Credit unions have had four weeks to digest Risk Alert No. 05-RISK-01 that NCUA issued last month concerning "Specialized Lending Activities - Third-Party Subprime Indirect Lending and Participations" - and while the agency chose to use strong language, even describing stiff penalties for lack of...

  • Desert Schools Extends Interest Only Line of Credit for Investment Property

    PHOENIX - First it was interest only lines of credit to purchase primary residences, and then it was to purchase vacation homes. Now Desert Schools FCU has further extended its interest only lines of credit to its members to purchase investment property. The $2 billion credit union says it's the...

  • Southwest Corporate's CEO Survey Finds Rising Confidence

    DALLAS - After nearly a year of steadily declining optimism, credit union CEOs are feeling a bit better about things, according to Southwest Corporate's Credit Union CEO Confidence survey, which is done quarterly. Results mirror the upturn in consumer confidence reported by the Conference Board's Consumer Confidence Index. The CU...

  • Shell Employees FCU Making Dreams of Prom and Future Bright for HS Seniors

    HOUSTON - Shell Employees Federal Credit Union took financial literacy to a whole new level with a simple invitation for "A Night to Remember". In addition to providing some 125 less privileged Houston area graduating high school young women with the skills for making sound financial decisions for their future,...

  • Save Columbia Group Finally Sweeps Board Elections; Former CEO Runs, Loses, Final Cost of Conversion Attempt Revealed

    VANCOUVER, Washington - It appears that the final shoes have dropped in the failed charter conversion attempt at the $682 million Columbia Community Credit Union, a political, legal and regulatory drama that preoccupied much of the credit union industry from the end of 2003 well into 2004. The credit union...

  • Survivors and Credit Unions Shine Spotlight on Cancer Awareness

    WEST PALM BEACH, Fla. - Cancer survivors - their stories have inspired credit unions and other organizations across the country to not only build awareness but also raise much needed funds for research. "It isn't about our individual experiences, but rather the important thing is to build awareness about cancer...

  • SBA Loans Thrive in Third Quarter Despite Move to Return 7(a) Funding to Congress

    WASHINGTON - Small businesses continued turning to the SBA for commercial credit in record numbers through the first three quarters of fiscal year 2005. Small businesses secured SBA backing under the agency's flagship 7(a) program for 71,131 loans through the first nine months of the fiscal year, a 21% increase...

  • Wisconsin CU Forges `Unique" Link with Goodwill Industries to Combat Payday Lending

    APPLETON, Wis. - In a linkup with a well-known non-profit, Goodwill Industries International, Prospera Credit Union here has opened a limited service branch in a large Goodwill store to handle low-cost payday loans. Management of the CU and of Goodwill, headquartered in Rockwell, Md., said the collaboration-which also involves use...

  • Vadala Realistic About One-Year NAFCU Chairmanship; Wants CUs' Political Power to be Felt by All

    LAS VEGAS-Mike Vadala, president and CEO of The Summit Federal Credit Union in Rochester, N.Y., is being realistic about his ninth and final year on the NAFCU Board, leaving him with just one year to serve as chairman. Vadala was elected chairman at NAFCU's regular June board meeting after Southwest...

  • Unclear What BofA's Purchase of MBNA Means to Credit Union Partners, But Things Likely to Change

    CHARLOTTE, N.C. - In a move which may strongly impact the market for credit union credit card portfolios, Bank of America has moved to purchase MBNA, the giant monoline card bank which has been a leader in the CU card portfolio market. Bank of America is offering MBNA stockholders a...

  • The Next Generation of Credit Union CEOs Looks Just Fine

    WEST PALM BEACH, Fla. - Industry concerns about a shortage of credit union CEO talent may be overblown. For a few years now, there have been ominous statistics floating around such as within the next five years 25% of credit union CEOs will retire. Who will step up and fill...

  • The Summit Chosen to Provide Local Lending for Fannie Mae Program

    ROCHESTER, N.Y. - Add The Summit Federal Credit Union to the relatively short list of credit unions participating in Fannie Mae's Smart Commute mortgage initiative, a program that encourages the use of public transportation. Fannie Mae currently facilitates the program in nearly 30 metropolitan areas across the country, but has...

  • Robert Rose, Longtime Force in CU Industry, Moves Toward The Exit

    ONTARIO, Calif. - With the hiring of Stan Hollen, the former CEO of The Golden 1 Credit Union and Liberty, Bob Rose, the CO-OP Network's long term CEO and leader in the credit union industry has begun his gradual retirement. Over the course of this year Rose, 63, will gradually...

  • Newtek Joins Russell Index, Partners with GE Commercial Finance

    NEW YORK - Over the course of one week, Newtek Business Services, Inc. made two major announcements as it continued making headway within the credit union industry. On June 28, NKBS, which is a direct distributor of business services to the small to medium-size business market and has a partnership...

  • NCUA'S Economic Empowerment Summit Shows how Fed Programs can Help CUs

    LOS ANGELES - It usually only takes 10 simple words from a federal bureaucrat to strike fear into the heart of the public: "I'm from the government . . . and I'm here to help you." But NCUA tried to turn that notion on its head when it came to...

  • No CUs Appear Impacted by `Misleading' Online Investment Program, SEC Says

    WASHINGTON - It appears that no credit unions have been affected by a Vermont corporation and its "misleading" auto-trading programs, according to an SEC official. On July 1, the SEC filed civil charges against Terry's Tips, Inc., a Vermont corporation, and Terry F. Allen, of Ferrisburg, Vt., for alleged violations...

  • CU Faithful Put to Test at Calvary Baptist FCU

    SAN FERNANDO, Calif. - Latisa Rush doesn't mind the limited hours at her credit union. It may actually be helping her to save money, she says, since she can't access her savings account whenever she has the urge to do some "retail therapy." "For me, because I spend money the...

  • Minnesota CUs Come to Aid of State Workers in Face of Partial Government Shutdown

    ST. PAUL - There was plenty of finger-pointing across both sides of the aisle of the Minnesota state government, but regardless who was to blame for the impasse in reaching an agreement on the state budget by midnight June 30, state residents are now facing a range of reduced services...

  • NAFCU/PAC Taking the Vegas Theme and Running With It.All the Way to the CU

    LAS VEGAS-For NAFCU's Annual Conference this year, NAFCU/PAC is resurrecting the Rat Pack. Frank Sinatra, Dean Martin, and Sammy Davis, Jr.-or at least impersonators-will entertain guests at the `Rat PAC' event. About 100 people were registered as of deadline but many more are expected to register on site. "I have...

  • NCUA Board Members Refute Limit on Members with Credit Union Experience

    ALEXANDRIA, Va.-Who says less is more? With regard to the cap on NCUA Board members at one with direct credit union experience, past and present NCUA Board members generally feel they should not be limited. A Credit Union Times voting poll (see page 4) recently found that more than half...

  • North Carolina League Joins Guard/Reserve Support Drive

    RALEIGH, N.C. - In a noteworthy move to support the military, the North Carolina Credit Union League has joined a national campaign to pledge employer backing "above and beyond the law" for National Guard and Reservists in Iraq and Afghanistan. At its annual meeting June 8 and in follow-up letters...

  • Proposed Legislation Would Strip NCUA of Some of its Authority to Regulate Charter Conversions

    WASHINGTON - Proposed legislative language being circulated on Capitol Hill by Representative Patrick McHenry (R-N.C.) would strip the NCUA of some of its authority to regulate the conversion of credit unions to mutual bank charters, arguing in part that the agency is too involved with credit unions to be trusted...

  • Re-evaluating "Bank" - Not Necessarily a Four-Letter Word for CUs

    WEST PALM BEACH, Fla. - Don't be so quick to judge other credit unions for making use of the controversial B-word -Bank. Since CUNA Chairman Dick Ensweiler's speech at a credit union conference urging credit unions to make an attempt to rein in their use of "bank" in their marketing...

  • Pension Trade Group Warns Current Tax Reforms Could Discourage Employers from Offering Retirement Plans

    ARLINGTON, Va. - As the credit union industry continues to lobby for inclusion in any Social Security reform legislation, one major trade group is concerned that certain tax reform proposals could further erode incentives to save for retirement. On June 30, the American Society of Pension Professionals & Actuaries (ASPPA)...

  • Overseas Branches Serve USA Federal's Key Military Market

    SAN DIEGO - Keeping remote branch staff working together as one cohesive unit is a struggle for many credit unions, especially those with branches located in multiple states and time zones. But that struggle seems like a cakewalk compared to the challenges faced by the $677-million USA Federal Credit Union,...

  • Payday Lending Association Announces Military Code of Ethics

    WASHINGTON-The Financial Service Centers of America (FiSCA), the nation's trade association for financial service centers, has developed a new 14 point Ethical Code of Conduct for payday lending to military personnel. The group also released a new brochure for its members, armed forces personnel and their families concerning payday advances,...

  • ICBA Chief Elected Chairman of Homeownership Alliance

    WASHINGTON-Independent Community Bankers of America President and CEO Camden R. Fine was elected chairman of the Homeownership Alliance, which works to increase homeownership opportunities across the nation. NAFCU is also a member of the alliance. "In a time of great optimism for the future of homeownership, I am pleased to...

  • July 20 Greenspan will Deliver Monetary Report to House

    WASHINGTON-House Financial Services Committee Chairman Mike Oxley (R-Ohio) recently announced that Federal Reserve Board Chairman Alan Greenspan will deliver his semiannual report on monetary policy July 20. The conduct of monetary policy is a key component of the committee's jurisdiction. Members receive a report twice a year and are provided...

  • NAFCU's New Board

    During its regular June meeting, the NAFCU Board also elected the following table officers for the 2005-06 term: John W. Milazzo Jr., Vice Chair-president of Campus FCU in Baton Rouge, La. Milazzo has previously served as NAFCU's treasurer. Bradley W. Beal, Secretary-president of Nevada FCU in Las Vegas. Beal is...

  • NCUA Considering Whether to Approve Community's Charter Change Vote

    ALEXANDRIA, Va. - NCUA's Region IV Director, Jane Walters, is "carefully considering" the $1.4 billion Community Credit Union's ballot certification package before deciding whether or not to validate the credit union's charter change vote. The package consists of a 17-page letter and numerous attachments, according to the agency. The credit...

  • Talking ATMs for the Blind Leap the Atlantic

    BELFAST, U.K. - Northern Bank has announced that it is the first bank in Europe to install software in some of its ATMs which will allow blind and visually impaired users to use the machines via a set of headphones and a voice hookup. The U.S. Department of Justice is...

  • CUcorp, Mortgage Center Sign Marketing Agreement

    NORTHVILLE TOWHNSHIP, Mich. - CUcorp, a wholly-owned subsidiary of the Michigan Credit Union League, has signed a marketing agreement with Mortgage Center that allows CUcorp to market Mortgage Center's products and services to Michigan credit unions. Mortgage Center provides a complete suite of mortgage services to CUs and their members...

  • Wright-Patt Guarantees Mortgage Closing Costs

    FAIRBORN, Ohio - Wright-Patt CU wants members to know their closing costs will not exceed their original Good Faith Estimate when they apply for mortgage loans with the CU. That's why the over $1 billion credit union announced their new mortgage loan - "Good Faith Guarantee." Noting that while mortgage...

  • CEOs Under 40 as of May 2005

    Eric Bruen

  • McDaniel Retires from First Financial CU

    ALBUQUERQUE, N.M. - After 18 years, First Financial Credit Union President/CEO Jeff McDaniel is retiring. McDaniel has worked for the credit union since 1973. Under his leadership the credit union has swelled to more than $290 million in assets while providing services to underserved areas of the state. McDaniel also...

  • Historical Links Brings Kim Services CU, Lakeview CU Together

    NEENAH, Wis. - Kim Services CU and Lakeview CU have shared a common history for nearly history - they're both tied to Kimberly-Clark Corp. - and now that history is behind Kim Services' decision to select Lakeview as its merger partner. A majority of Kim Services CU members who gathered...

  • Security Service FCU Supervisory Chairman Honored by NACUSAC

    DEL MAR, Calif. - Robert Egger, chairman of the supervisory committee of Security Service FCU was honored with the 2005 Golden Service Award from the National Association of Credit Union Supervisory and Auditing Committees. Egger was presented with his award during the opening session of the association's recently held 2005...

  • Approaching Tropical Storm Prompts Early Shutdown of Louisiana League

    HARAHAN, La. - As Tropical Storm Cindy made its way toward the southern coast of Louisiana last Tuesday, the Louisiana Credit Union League closed its offices two hours early to enable employees to get home and secure their personal belongings. Cindy came ashore late that night, crashing through the Gulf...

  • CUFSLP Now Boasts 39 CU Partners

    WASHINGTON - Eighteen years ago, Callahan Credit Union Financial Services Limited Partnership was formed to develop financial services alternatives for credit unions. The group of credit unions went on to found Trust for Credit Unions in 1988, the first and largest mutual fund family designed by and for credit unions,...

  • NCUA Issues Updated Asset Valuation Notebook

    ALEXANDRIA, Va.-Beginning June 30, NCUA examiners went out into the field with a new asset valuation notebook. The asset valuation notebook is a tool used by examiners to get a grasp of a credit union's potential interest rate risk exposure. Examiners use the results to determine the scope of the...

  • League Study is Beneficial, Says Parks of South Carolina

    COLUMBIA, S.C. - Marking his first year as president/CEO of the South Carolina Credit Union League next month, Garry L. Parks is finding one of those custom analyses performed by CUNA and the American Association of Credit Union Leagues a useful management tool. "It was a wonderful opportunity to see...

  • Milosevich Elected Chairwoman of NACUSO

    NEWPORT BEACH, Calif. - After serving as a director of NACUSO since 2001, most recently as vice chairwoman, SELCO Community CU President/CEO Ava Milosevich was elected chairman of the association's board at NACUSO's annual meeting in May, it announced last week. She succeeds John Unangst, president/CEO, Franklin Mint FCU who...

  • Credit Unions Have a Lot of Bills in Pipeline to Monitor

    WASHINGTON-Credit unions need to keep their eyes out for legislation as it moves through Congress. As one can see from the list below, the House has been moving quickly to resolve some credit union issues. However, the Senate-the more deliberative body of Congress-has been a bit slow on the uptake....

  • Capitol Hill Newspaper Recognizes Credit Union Lobbyists

    WASHINGTON-The Hill, a major Capitol Hill newspaper, recently spotlighted banking and credit union lobbyists in its Lobby League feature. CUNA is referred to as "credit unions' top association." Regarding CUNA Senior Vice President of Governmental Affairs John McKechnie, the article read: McKechnie's personality won the allegiance of a new lobbyist...

  • Chelmsford CU Merges with Workers CU

    FITCHBERG, Mass. - Chelmsford Credit Union has officially merged with Workers' Credit Union. "This is a perfect fit for our members. It will significantly expand the products and services we were unable to offer, plus provide a new spacious and conveniently located branch only one half mile from our current...

  • Focus One Community CU Makes Monrovia Day Special

    MONROVIA, Calif. - Focus One Community Credit Union has participated in the Monrovia Day celebration hosted by the Monrovia Chamber of Commerce. Monrovia Day celebrates the birthday and spirit of the city. The main highlight of this annual anniversary celebration is the Soap Box Classic, which is a home made...

  • House Approves 2006 NCUA Appropriations

    WASHINGTON-Stuffed in between language for Departments of Transportation, Treasury, Housing and Urban Development, the Judiciary, District of Columbia, and Independent Agencies appropriations in H.R. 3058 is the funding for two NCUA programs. The House has approved $950,000 for Community Development Revolving Loan Fund grants for fiscal year 2006, but was...

  • NAFCU Bets on Vegas

    This is the first time NAFCU's Annual Conference and Exhibition has come to Las Vegas, and according to the association so far so good (see related item on bottom of 3). Readers will find NAFCU special features throughout this issue, including on pages 8, 24, 44 and 49.

  • Eastern Financial Florida CU Expands Biz Offerings

    MIRAMAR, Fla. - Employee benefit services are the latest addition to Eastern Financial Florida Credit Union's business services division. The $1.8 billion CU has partnered with Private Professional to offer its small and mid-sized business members access to outsourced benefits and services through The Business Advantage Program. Using pre-tax dollars,...

  • Junk Fax Bill Entering the Books

    WASHINGTON-Following passage of the Junk Fax Prevention Act (S. 714) June 28 by the House, the bill was on its way to the president's desk. The new law prohibits anyone from faxing unsolicited advertisements to another person unless there is an established business relationship and the advertisements include free opt-out...

  • FFIEC Releases BSA Manual

    WASHINGTON-The Federal Financial Institutions Examination Council, which includes NCUA, has issued the Bank Secrecy Act/Anti-Money Laundering Examination Manual. A release from the agencies stated, "The manual's release marks an important step forward in the effort to ensure the consistent application of the BSA to all banking organizations including commercial banks,...

  • NAFCU Pleased with the Draw From Vegas

    ARLINGTON, Va. - As hot as a conference town as Las Vegas is, this is the first year NAFCU will hold its annual conference in the city. "We weren't sure what to expect after having just met in Vancouver, which is one of our members' favorite locations. The reaction to...

  • Empire Corporate Plans Fall Financial Strategies Conference

    ALBANY, N.Y. - Notable experts and timely industry topics are on the agenda for Empire Corporate's upcoming Financial Strategies Conference. The conference, which will take place Sept. 13-15 at the Newport Marriott in Newport, Rhode Island, will cover the economic outlook; industry trends; how to serve member small business opportunities;...

  • Name Change for Wyoming Employees FCU

    CHEYENNE, Wyo. - The winds of change have blown through Wyoming Employees Federal Credit Union. Effective July 1, the $138 million credit union is now Meridian Trust FCU. A money ribbon donation ceremony to The Leadership to Keep Children Alcohol Free Foundation representative First Lady Nancy Freudenthal kicked off the...

  • Ohio League Joins Filene `Real Solutions' Payday Project

    DUBLIN, Ohio - The Ohio Credit Union League has become the third state League to participate in Filene Research Institute's Real Solutions project aiming at bringing payday alternatives and other CU products to the underserved. "We have 19 credit unions who have signed up and ready to start the process,"...

  • NAFCU Providing Spanish Version of MoneySmart

    ARLINGTON, Va.-NAFCU adapted FDIC's MoneySmart financial education program for credit unions a couple years ago. Now the group has adapted the adaptation into Spanish. According to NAFCU Director of Marketing Peter Taylor, NAFCU checked into getting a translation done a while back, but at the time it was cost prohibitive....

  • Navy Federal's Interns Attend NCUA Board Meeting

    ALEXANDRIA, Va. -Three college students who have been interning at Navy Federal Credit Union as part of the African American Credit Union Coalition (AACUC) and Latino's on the Fast Track internship program attended the July NCUA Board meeting. They were greeted by NCUA Chairman JoAnn Johnson and board member, Deborah...

  • Editor's Introduction

    The following piece was submitted by former Bucs FCU CEO and current Bucs Federal Bank CEO Herb Moltzan. In the controversy surrounding charter conversions, Moltzan said he wanted to put some reality behind the situation by giving a first-hand account of his real-life conversion experience. It's worth noting however that...

  • Evansville Teachers FCU Offers Night at the Ballpark

    EVANSVILLE, Ind. -Evansville Teachers Federal Credit Union has recently treated members to admission to watch a local Frontier League baseball game. The credit union distributed 3,000 free tickets to Evansville Teachers Federal Credit Union Night as the Evansville Otters hosted the Washington Wild Things. As part of the festivities, Mike...

  • Constitution is First East Coast Corporate to Complete Image Exchange Testing with Fed

    WALLINGFORD, Conn. - Constitution Corporate CU said that it has completed image exchange testing with the Boston Federal Reserve, making it the first corporate on the East Coast to do so. The testing lasted about a week. "We can now send images of checks as forward collection items to the...

  • CUNA Requests PCA, MBL Updates in Reg Relief

    WASHINGTON-CUNA President and CEO Dan Mica has written Senate Banking Committee Chairman Richard Shelby (R-Ala.) asking that two important provisions be included in any regulatory relief legislation that comes out of the committee. Additional flexibility in business lending is one of those items. Mica asked that the legislation include provisions...

  • Alliant Celebrates Back-to-Back Savings Dividend Rate Boosts

    CHICAGO - This quarter marks the second time this year Alliant Credit Union has boosted its quarterly savings dividend rate. The rate now stands at 3.25%, one of the highest in the nation, with a compounded annual percentage yield of 3.29% for members who maintained an average daily balance of...

  • American Homebuyers, Sellers Increasingly Sophisticated

    WASHINGTON - The findings from the 2004 National Association of RealtorsT Profile of Home Buyers and Sellers show that when it comes to buying and selling a home, consumers are collecting information from many sources but continue to rely on real estate professionals to assist with the transaction. The following...

  • Proposed California Bill Aims to Reduce Debit Card Fraud

    SACRAMENTO, Calif. - A proposed bill in California will limit the information merchants can print on debit card receipts, in an attempt to reduce identity theft and fraud. SB 802, sponsored by state Sen. Joseph Simitian (R-Palo Alto), amends current California civic code pertaining to credit cards. Currently, merchant receipts...

  • Retiring Fort Campbell FCU CEO Honored With His Own Day

    CLARKSVILLE, Tenn. - Fort Campbell FCU President John H. Moorhead retired with much more than a plaque. The CEO's last day leading the $211 million CU was June 29. At a reception honoring his retirement, Clarksville Mayor Don Trotter presented Mr. Moorhead with a proclamation declaring June 29, 2005 as...

  • AG's Want Answers on Card Breach; CUs Take Action

    WASHINGTON - Attorney's General from 49 of the 50 states have written CardSystems Solutions, the card processing firm whose security lapse led to the compromise of 40 million debit and credit numbers and which is still costing credit unions money, an angry letter demanding answers. The officials wrote the June...

  • Bank, CU Regulators' Deny Strain in Working Relationship

    WASHINGTON-The key banking and credit union regulatory agencies have said that their working relationship is not strained by bank and credit union differences. FDIC Vice Chair John Reich submitted written testimony for House and Senate hearings on regulatory relief last month in which he stated that credit unions should be...

  • Credit Unions Trying Different Tactics to Best Market Debit to Their Members

    WASHINGTON - Because they are tied closely to checking accounts, debit cards have been making steady inroads into credit unions' day-to-day operations. But while there may be only one basic debit card product, there are a number of different ways to market and distribute it to members, and three credit...

  • CU BizSource David Dunn Shares Insight on Pressing MBL Concerns, Mistakes Credit Unions Make

    MIDDLETOWN, Pa. - Member business loans grew more than three times as much as the overall loan portfolio in 2004 and the pace doesn't appear to be letting up. CU BizSource, which was originally formed by the Pennsylvania Credit Union Association and acquired by CUNA Mutual Group's MEMBERS Development Co....

  • Credit Union Headquarters -New Employee Perk? More CUs See it That Way

    WEST PALM BEACH, Fla. - As credit unions develop benefit programs to lure and retain the best talent, lately more have been stepping up their efforts to include their work environment. Credit union headquarters are increasingly becoming havens where employees are not only proud to say they work there but...

  • Corporate CU Network Changing Once Again; Partnering is the new Name of the Game

    WEST PALM BEACH, Fla. - Winds of change are blowing in the corporate credit union network and they should help to bring more options and better pricing to credit unions everywhere. The corporate network goes through cycles. For years corporates maintained tight geographical boundaries and truly played the role of...

  • Breaking Through Language, Cultural Barriers

    HICKORY, N.C. - Srina Hang can relate to the language and cultural barriers this area's growing Hmong population faces in dealing with financial institutions. Hang is a first-generation American. Her parents escaped Southeast Asia at the end of the Vietnam War when the Hmong, who had supported the United States,...

  • California, Nevada CU Leagues Encourage NCUA to Adopt Proposed MBL Changes

    RANCHO CUCAMONGA, Calif. - Proposed changes to NCUA's member business lending rule could open more doors for credit unions, the California and Nevada CU Leagues recently said. Among the changes, NCUA has proposed amending the rule to allow CUs to participate in other government guaranteed loan programs and changing the...

  • CUs Win CU Direct Best Practices Awards for 2004

    RANCHO CUCAMONGA. Calif. - CU Direct Lending recently announced the winners of its best practices awards for 2004. Awards were presented in two areas - best practices in operations and best practices in educating members - in each of three asset groups: $100 million or less, $101-$600 million, and $601...

  • Sacramento Biz Journal Prints Rebuttal to Anti-CURIA Editorial

    SACRAMENTO, Calif.-SAFE Credit Union President and CEO Henry Wirz wrote a letter to the editor countering an editorial that appeared in the Sacramento Business Journal which did not cast the Credit Union Regulatory Improvements Act in a positive light. Wirz' letter, published in the July 1 edition, took issue with...

  • From the Editor: "Don't Stop in the Middle"

    This 156-page special NAFCU issue represents another milestone in pages for Credit Union Times. To date it is the largest issue ever and like many other past page record marks, it coincides with NAFCU's Annual Conference. However, the storyline for this issue is not its size, but its diversity and...

  • Neighborhood Assets Program Celebrates One-Year Anniversary

    SPOKANE, Wash. - The Neighborhood Assets Program - a partnership between Spokane Neighborhood Action Programs (SNAP), Numerica CU and Washington State Employees CU - recently celebrated its one-year anniversary and had lots of success stories to show for itself. Its first year of successes include: opening 214 accounts; providing active...

  • St. Mary's Bank CU Completes Acquisition of Gateway CU

    MANCHESTER, N.H. - St. Mary's Bank has completed the acquisition of Gateway CU after obtaining approval of the acquisition from the Gateway membership, NCUA and the State of New Hampshire Banking Department. The transaction adds 8,000 new members and nearly $24 million in assets to St. Mary's Bank, the oldest...

  • New York League Adds CUs to CCUL's Match Up Web Site

    RANCHO CUCAMONGA, Calif. - The New York State Credit Union League has become the 27th league to put the names of its credit unions on the California Credit Union League's Match Up Web site that allows consumers to find a credit union they may be eligible to join by using...

  • UniWyo FCU Donates $1 Million to University of Wyoming

    LARAMIE, Wyo. - UniWyo Federal Credit Union has donated $1 million to the University of Wyoming Athletics Department. According to Athletics Director Gary Barta, $750,00 of the gift is earmarked for intercollegiate athletics and $250,000 in support of the university's scholarship and international program. Nearly all of the $1 million...

  • Merger Accounting Proposal Released, Net Worth Bill Awaiting Action

    WASHINGTON-After much debate and delay, the Financial Accounting Standards Board on June 30 finally issued its exposure draft to amend Statement No. 141, Business Combinations, requiring credit unions to switch to the purchase method of accounting. The 236-page rule is aimed at making accounting for business combinations universal, but it...

  • Fidelity Offers HSAs to Financial Service Organizations

    JACKSONVILLE, Fla. - Fidelity Information Services (Fidelity), a division of Fidelity National Financial, Inc. has tossed its hat in offering Health Savings Account solutions to financial service organizations. HSAs are tax-free savings accounts that can be used to pay for medical expenses including prescription and over the counter drugs incurred...

  • NY Southern Tier CUs Build Legislative Support

    LATHAM, N.Y. - Building support among state and federal legislators and staying connected with them is a constant process for credit unions. That's just what over 80 credit union professionals and board members from the New York State Credit Union League's Southern Tier district did June 13 when they hosted...

  • Senate Gives Boost to International Development Funding

    WASHINGTON-Before heading out of town for the July 4th recess, the Senate Appropriations Committee pumped up funding for an international economic development program under the U.S. Agency for International Development. The World Council of Credit Unions obtains funding through the Cooperative Development Program (CDP). Typically USAID determines the development program's...

  • NAFCU Bids Farewall to Furnas

    NONE

  • NAFCU Caucus Lineup Taking Shape

    WASHINGTON-As NAFCU's Annual Conference gets underway, the Congressional Caucus speakers' list is beginning to form. Treasury Secretary John Snow has signed on as a speaker for Sept. 21, the last day of the conference. Also from the administration will be NCUA Chairman JoAnn Johnson and Board Member Debbie Matz. From...

  • T&C Hits High Note with Jazz Band Competition Sponsorship

    BLOOMFIELD HILLS, Mich. - T&C Federal Credit Union has helped keep music programs alive for kids here. The credit union was recently a corporate sponsor for the Metro-Michigan Scholastic Jazz Band Competition at Pontiac's Phoenix Center Amphitheatre. The competition featured five high school jazz bands throughout Michigan and attracted an...

  • CUEG to Address Foremost Topics at NAFCU Annual Conference

    LAS VEGAS-The Credit Union Economics Group will be making its second presentation before NAFCU's Annual Conference this year, but the group has had audiences outside the credit union community. The group, a brainchild of NAFCU Chief Economist Tun Wai, formed in the fall of 2002 and that spring met with...

In Other News

  • SCHOLARSHIPS

    Kauai Community Federal Credit Union, Lihue, Hawaii has awarded scholarships to five lucky recipients. This year's winners include Claire Hirota, Jenna Lynch, Cedric Macadangdang, Lance Okasaki and Ashley Shimono.. Each recipient received a $1,000 scholarship to help them achieve their higher education goals. This is the first year that the...

  • DONATIONS

    Credit Unions For Kids, San Diego, has donated $160,000 to Children's Hospital and Health Center for the Patient Care Fund which will directly aid patients through programs, services and technology. In its eighth year of existence, CUFK is comprised of 17 San Diego area credit unions collectively fundraising on behalf...

  • AWARDS

    Aberdeen Proving Ground Federal Credit Union, Md., has been named the Business Community Service Organization of the Year, and was presented with the Good Neighbor Award by the Harford County Human Relations Commission. The Good Neighbor Award is designed to recognize and encourage businesses and community organizations to fulfill the...

News

  • Irish CUs Support Arts

    CORK, Ireland -- In a country where artists get tax breaks, it is not surprising to find 33 Cork credit unions coming together to support local talent as part of a county-wide cultural program. Although donating to this project was voluntary, the participating Chapter XI credit unions contributed _60,000 (US$73,000)...

  • NCUA Marks 70 Years of FCUs with Annual Report

    ALEXANDRIA, Va.-NCUA's 2004 Annual Report features loads of information and graphics on the nation's credit unions as well as artistic shots of NCUA's Alexandria headquarters and the key players in it. The agency really kicked its Annual Report up a notch for 2004, but it is not just for federal...

  • To Make the Top 50 Membership List, Credit Unions Need at Least 152,000 Members

    WASHINGTON - Membership numbers continue to be an area of concern for many credit unions but there appears to be a turnaround in a nearly two-year slowing trend. Navy Federal Credit Union still tops the list with more than 2.5 million members worldwide, according to Callahan & Associates, Inc. Most...

  • Credit Unions Love Their Net Worth

    WASHINGTON-Much can be said about credit unions and their net worth. Some say credit unions, as cooperatives, are just playing it safe with high levels of net worth. Credit unions are required to have 7% net worth before they get into trouble with Prompt Corrective Action, yet the industry average...

  • What Are the Key Trends for FCUs and SCUs?

    WEST PALM BEACH, Fla. - Three years' worth of data from NCUA's 5300 call reports and collected by Massachusetts Credit Union Share Insurance Crop. comparing federal credit unions and state-chartered credit unions in key areas shows that despite occasional spikes on the radar screen, both federal and state-chartered credit unions...

  • Two Australian Professional Groups to Merge

    BURWOOD, Australia - Two Australian credit union support organizations are in the process of merging to offer a better service to credit union managers and directors. They will begin operations as a single organization January 1, 2006. They plan to offer "a fully integrated suite of programs targeted to the...

  • MCUF Study Analyzes Interest Rate Exposure Facing Michigan Credit Unions

    NORTHVILLE TOWNSHIP, Mich. - In a rising interest rate environment such as the current one credit unions are operating in, what are the best ways for credit unions to maintain the best income position? A study commissioned by the Michigan Credit Union Foundation addressed the risk exposure faced by Michigan...

  • Australia's Merger Mania Pays Off with an Exception

    SYDNEY, Australia - Thirty years ago there were 777 credit unions in Australia. Today there are only 163, but despite the reduced number of credit unions the movement is doing anything but shrinking. Although some of the credit unions were just too small to continue, there is another reason for...

  • Lloyd Hawkins - Ill Health Has Not Stopped Him

    MOOROOKA, Australia - Lloyd Frederick Hawkins, a credit union leader known in the United States from his connections with the Credit Union Executives Society, is not a man who considers retirement or ill health as an excuse to sit in a chair and do nothing. Hawkins' connections with CUES go...

  • First Woman President of Irish League of Credit Unions Sees Changes in the Wind

    DUBLIN, Ireland - Attitudes have changed in the 30 years she's been working with credit unions and Anne O'Bryne says the fact that she's been elected the first woman president of the Irish League of Credit Unions (ILCU) is proof of that. Byrne recalls when she became a teller two...

News Briefs

  • Memphis Area Teachers CU Names Webb CEO

    MEMPHIS - The $550 million Memphis Area Teachers' CU found its new CEO within its own walls. MATCU has named its executive vice president Carlos Webb as its new CEO. Webb replaces the venerable Ray Algee, who spent 10 years as CEO of MATCU. "Sometimes when a change of leadership...

  • Speaker, Ohio Legislators Back ASI on Private Insurance Disclosure Reg

    WASHINGTON-Five key lawmakers are supporting certain modifications to the Federal Trade Commission's proposed regulation regarding the disclosures for privately insured depository institutions. Republican House Financial Services Committee Members Deborah Pryce, Bob Ney, Steven LaTourette, and Patrick Tiberi-all from Ohio where American Share Insurance is based-backed ASI-supported changes to the proposal...

  • IRS Says 457 Plan Guidance Expected by September, Not June

    WASHINGTON - Clearer guidance on 457 plans was expected to come from the IRS by the end of June, but an agency spokeswoman is now saying credit unions can expect something by September. The IRS has sought feedback from CUNA, CUNA Mutual and NAFCU over the past year to put...

  • Alabama League Names new Director of Public and Political Affairs

    BIRMINGHAM, Ala. - Adena Whitman has joined the Alabama Credit Union League's advocacy team. She was hired as their new Director of Public and Political Affairs. Whitman's focus in her new position will be internal and external communications, public relations and fundraising for different products such as the League's Charitable...

  • NCUA Approves 30 Mergers in May

    ALEXANDRIA, Va.-While NCUA gave the nod to 30 credit union mergers during the month of May, it also approved the adoption of 25 underserved areas and 12 community conversions. The majority, 18, of the credit union mergers that went through were of credit unions between $1 million and $10 million....

  • Lowe to Depart California League

    RANCHO CUCAMONGA, Calif. - Mark Lowe, a public relations specialist with the California Credit Union League for nearly 10 years, announced June 30 he was resigning effective July 15. Lowe said he planned to pursue a master's degree in philosophy at Virginia Tech with the goal of teaching college. "I'll...

Corporates

  • Corporate Credit Unions Branch into New Areas

    WEST PALM BEACH, Fla. - Today's corporate credit union network is about much more than just correspondent and investment services. Corporates have become key partners with their credit union members in business services, online services, compliance and more. Often these services are offered via corporate credit union owned CUSO. Interestingly,...

Credit/Debit/ATM

  • Internet Important in Used-Vehicle Market

    WESTLAKE VILLAGE, Calif. - J.D. Power and Associates' 2005 Used Autoshopper.com StudyT released in mid-June shows the Internet now helps to lead more late-model, used-vehicle buyers to vehicles they purchase than do traditional newspaper and magazine classified ads combines. The study is based on responses from more than 14,000 owners...

  • Curomax's Mycreditshop.com Allows San Antonio FCU to Compete at POS

    MISSISSAUGA, Ontario, Canada - Curomax, a leading developer of dealer finance e-commerce solutions, reached an agreement with San Antonio FCU for the $1.7 billion CU to use the company's point-of-sale lending platform, mycreditshop.com. With the fully integrated POS lending platform, a SACU member visiting a dealership or other merchant, can...

  • Dealers' 0% Interest Loans Not Quite Over

    DETROIT - The Big 3 auto manufacturers may have discontinued offering 0% interest loans as a regular part of financing deals, but that doesn't mean consumers have seen the end of this type of financing incentive. USA Today recently reported that General Motors and Ford are offering six-year, 0% interest...

  • Consumers Becoming Dependent on Incentives?

    DETROIT -Zero percent interest loans and rebate offers may have been part of the Big 3 auto manufacturers' strategy to move more vehicles, but have consumers gotten used to too much of a good thing? A monthly study from Harris Interactive and Kelley Blue Book Marketing Research - AutoVIBES-indicated that...

  • Consumers Turning kbb.com Dealer Price Quote Service into Purchases

    IRVINE, Calif. - Results of a recently conducted study by Experian Automotive of new car purchase requests generated on Kelley Blue Book's Web site - www.kbb.com - during the first nine months of 2004, found that 64% of consumers who submitted vehicle purchase requests on the Web site ultimately purchased...

Marketing

Tech Bytes

  • Online Resources Completes Purchase of IDS

    CHANTILLY, Va. - Online Resources Corp. says it has completed its purchase of Integrated Data Systems, a California-based provider of online banking, ACH, billpay and other solutions to about 50 credit unions. The privately held firm, Online Resources' second such purchase, cost the online banking and payments specialist $5 million...

  • Suggested Log-on Security Tips

    Here are some steps that CUDefense recommends credit unions and vendors implement to help make Internet banking systems more secure against script attacks. For credit unions: 1.Force the use of complex passwords. They should be at least eight characters and a combination of letters, numbers, upper case and lower and...

  • Passageways Lands Bethpage/ Bellco CUSO as Portal Client/ Developers

    WEST LAFAYETTE, Ind. - Open Technology Solutions (OTS) has agreed to deploy the intranet portal solution from Passageways LLC, adding to the traction the Purdue Employees FCU already has been gaining in credit union land. The pact calls for Passageways to provide its portal platform to the two credit unions...

  • Affordability was Goal with IntegraSys' New Credit Monitoring Tool

    FRISCO, Texas - Count IntegraSys in as the latest credit union vendor to offer a credit monitoring tool designed to help in part with the growing problem of identity theft. "We've been working on it since late last summer. We wanted to build a product that was affordable. Some of...

  • America First Earns Respect of Forrester Research

    SALT LAKE CITY - The $3.1 billion America First CU received some lofty praise from Forrester Research. The CU's financial planning software, Advice America, was ranked No. 1 by Forrester for such software. 'We feel honored to be recognized for a system that has been built to help businesses, both...

  • SECU Shuts Down Phishing Attack Minutes After Signing Specialist

    RALEIGH, N.C. - State Employees' Credit Union can say it got rapid ROI on its investment in a new online anti-fraud service when the vendor, Cyota Inc., stopped a phishing attack 20 minutes into the deal. Cyota's FraudAction anti-phishing service includes real-time detection of phishing and pharming attacks, shutting down...

  • Outsourcing Evolves into `Co-Sourcing' for Chartway, Summit

    VIRGINIA BEACH, Va. - Faced with the need to quickly develop and deploy new products and services in an increasingly competitive market, Chartway Federal Credit Union decided it was time to "co-source" much of its core technology. Not outsource. Co-source. That's how Chartway CEO Ron Burniske describes the new relationship...

  • Austin FCU Takes Encrypting to New Level with High-End Flash Drive

    AUSTIN, Texas - When members of Austin Federal Credit Union apply for a mortgage loan, they sometimes get a little something extra to help with the paper chase involved in taking that process to a close. They get a CryptoStick, a flash drive with built-in encryption software that allows the...

  • VyStar Hires Specialist for Security Sizeup

    JACKSONVILLE, Fla. - VyStar Credit Union (www.vystarcu.org) has hired an international technology solutions and systems integrator's local office for a security assessment project. Idea Integration (www.idea.com) will assess the $2.9 billion credit union's tech infrastructure and security policies, looking for deficiencies and vulnerabilities, and develop a followup plan, the organizations...

  • Share One Makes First Ever Acquisition

    MEMPHIS - Credit union data processor Share One has made its first ever acquisition. Share One has acquired the credit union contracts of core processor Information Control Systems, Inc. based out of Overland, Kansas. Included in this deal are 19 credit unions in eight states, ranging from $2 million in...

  • Bluepoint Solutions Announces Alliance with New Consultancy

    VISTA, Calif. - Document management specialist Bluepoint Solutions and Symitar integrator CUTEK have announced a new marketing alliance. CUTEK (www.cutek.net) was recently formed by former staffers of Symitar who had been working for eCU Technologies, the tech CUSO of Pennsylvania State Employees Credit Union. Hal Tilbury, founder and CEO of...

  • Credit Union IT Security Group Continues Growing on Several Fronts

    AUSTIN, Texas - The technology purchasing cooperative just launched by the Credit Union Information Security Professionals Association is one of several signs of progress the organization can cite in its young life. Formed last fall, the CUISPA now has about 200 credit union members, 17 chapters in cities around the...

  • BankBuster: CU Security Experts Deploy Tool They Say Easily Breaks through Basic Online Authentication Barrier

    CHAPIN, S.C. - Tucked away on the second floor of a brick building containing shops and offices in this small town in the South Carolina Midlands are sophisticated crackers who say they are able to easily make their way past the standard ID-and-password barrier that protects many, if not most,...

Letters to the editor

  • Setting the Record Straight on Elder Abuse Law

    The California Credit Union League and our member credit unions strongly support legislation that will effectively address elder financial abuse. Unfortunately, your recent article on elder financial abuse legislation in California ("Wolk inactivates her elder abuse bill, credit union opposition questioned," June 15) did not provide us with an opportunity...

  • Credit Unions: Learn From History or Be History

    Credit unions are fond of discussing their history, I just wonder if they are learning anything from it. I have spoken to thousands of credit union professionals and this month will speak at the World Council of Credit Unions in Rome, Italy. My message to this international audience will be...

  • Converting Texas CUs Don't Deserve a Pass

    Regarding your latest online voting poll regarding whether or not NCUA is being too strict in disqualifying Community CU and OmniAmerican's conversion ballets, I offer this take. I have not seen the material that has been sent nor the full text of the requirements of NCUA. But it seems to...

  • How About an Old Guys Conference?

    I read with great interest the article regarding CUNA's Women's Leadership Summit in the June 22nd issue. The conference appeared to have many quality panelists and some interesting discussion topics. There was even an interesting reference to the natural disasters that almost confronted the attendees. My question is this: how...

  • Unfortunately Boutwell Remarks all too Common

    On the letters page of the June 22 issue, Gwinnett FCU CEO Marshall Boutwell addressed an open letter to me sharing his comments about credit unions converting to mutual savings banks. I respect and defend his right to express his opinions publicly, but I am troubled by opinions that appear...

Publisher's Column

  • Conversion Stupid Award Pulls No Punches

    Whenever credit union groups meet, it is almost a certainty that before the event concludes an award presentation of some kind will have taken place. Credit union folks love to give and receive awards. Yet one important award is never presented, but should be. Guess I'll have to do it....

Beyond the Job

  • Silver State Schools CU Loan Officer Reveals Writer Within

    LAS VEGAS - When a minister refused to marry Silver State Schools Credit Union Loan Services Specialist Ruth White and her husband Steve in 1980 because they were an interracial couple- it sparked what has been a continuing educational crusade for the couple. White and her husband have co-authored a...

  • On the Hunt with HR Chief from iQCU

    VANCOUVER, Wash. - Christa Schmitt was one city girl who took to the great outdoors with no problem when life found her living among the fields, rivers and woods of Oregon and Washington state. Schmitt, now vice president of human resources at iQ Credit Union in Vancouver, has been hunting...

  • Texas Dow Employees' CU CEO Gets More Productive with New Wings

    LAKE JACKSON, Texas -Texas Dow Employees' CU CEO Edward Speed leads a credit union that is now in 14 counties in Texas and has branches as far as 110 miles apart. Covering all that real estate has become a lot easier for Speed who recently got his pilot's license and...

  • Hula Dancing Keeps Cooper Connected with her Heritage

    VIENNA, Va. - For mainland American tourists visiting Hawaii, the highlight of their trip is typically the luau and performances by hula dancers. For Navy FCU's Johnna Kamada Cooper, hula is more than just a performance - it's her connection to her culture and family. Born in Japan, Cooper -...

  • Buddy Gill: Call Him `Deacon Blues'

    AUSTIN, Texas -Buddy Gill confesses to being a closet guitarist. With a personal collection of 20 guitars and a complete home recording studio, this senior vice president of advocacy for the Texas Credit Union League is passionate about his music. Gill began playing guitar at 14 years of age, played...

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

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

Opinion

  • CURIA II: "Not your father's Oldsmobile"

    Before pulling the plug completely on its struggling Oldsmobile division, the marketing wizards at General Motors mounted a campaign a few years back to attract younger drivers to its sagging Olds lineup. The now famous tagline, "This is not your father's Oldsmobile," no doubt will live on-long after the last...

Events Calendar

  • 2005 ASSOCIATION & VENDOR CALENDAR

    ASSOCIATION CALENDAR AUGUST AUGUST 7-12 CUES Management Institute, Sheraton Boston Hotel, Boston, Mass. For info: Membership Services, 800-252-2664, x 3400. AUGUST 8-10 CUES School of Business Lending, Sheraton Boston Hotel, Boston, Mass. For info: Membership Services, 800-252-2664, x 3400. AUGUST 21-24 Defense CU Council's Annual Education Conference, Charleston Place, Charleston...

  • 2005 VENDOR CALENDAR

    VENDOR CALENDAR AUGUST AUGUST 2-4 National Center for CU (NCCU) 28th Annual National Directors Convention, The Venetian Hotel, Las Vegas, Nev. For info: Kathy Dilma, 301-287-2239. AUGUST 8-11 CU Conferences' National Human Resources/Personnel Issues CU Conference, Harrah's Lake Tahoe, Lake Tahoe, Nev. For info: John Berra, 888-465-6010 or www.cuconferences.com. AUGUST...

Pictorial

  • A Look Back on 2005 So Far

    Now at the halfway mark for the year, it can be said that 2005 has already been an eventful year for credit union news. This first page of the pictorial touches on some of the year's most notable events.

  • A Look at NCUA's Regional Presence

    A few years back NCUA consolidated its regional offices from six to five in order to save money. The San Francisco office was shut down and merged with the Tempe, Arizona office, and other regions also saw changes. The following is a look at the five current regional headquarter buildings,...

  • NAFCU in Action

    NAFCU is small, but nimble. Its presence on Capitol Hill and with NCUA is on the upswing. Here is a look at NAFCU leaders in action on the regulatory and legislative front.

Billlionaires Club

  • Community Involvement Works for Wirz and SAFE CU

    SACRAMENTO, Calif. - Henry Wirz, president/CEO of SAFE Credit Union, agrees with many others in the Billionaires Club that once you've hit the first billion, the second comes even more rapidly. It's basic math, he points out. "Assuming we continue our asset growth at 15 percent a year, you're working...

People Feature

From the Board Room

Publisher's Notebook

  • 156 And Counting

    Hard to believe it was only a little over 15 years ago that the average page size of each weekly issue of Credit Union Times was usually 16 pages, but on occasion only 12 pages. This publication grew rather slowly in those early years, but by the end of 1996...

NAFCU

  • How to Play like a Local While in Las Vegas

    There is more to Las Vegas than the Strip or Hoover Dam and Credit Union Times has asked few locals just what are a few "must see" and "must experience" attractions beyond the typical tourist areas. Here are a few places to check out during your stay from people in...

People

  • IN MEMORIAM

    Verity Credit Union, Seattle, former President Robert Zajicheck has died at the age of 78. Employed by Verity CU, formerly NW Federal Credit Union, from 1970 to 1990 Zajichek served as president for some 10 years. He is remembered for his steady leadership and dedication to the credit union and...

  • MIDWEST

    CUNA CFO Council, Madison, Wis., has elected the following officers to its board: State Employees CU SVP/CFO Brian McVeigh chair; State Employees CU (NC) SVP/CFO Michael Lord vice chair; Freedom CU VP of Finance Louis Scungio secretary/treasurer. Three new members were elected to the council's executive committee including: Orange County...

  • EAST

    Langley Federal Credit Union, Newport News, Va., has promoted Brett Noll to senior vice president/chief marketing officer. St. Anne's Credit Union, Fall River, Mass., has named Janet Panell Swansea branch manager. St. Mary's Bank, Manchester, N.H., has appointed Ray Pinard executive vice president and chief operating officer Sunmark Federal Credit...

Voting Poll

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