Credit Union Times Magazine July-13, 2005

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

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

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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