Credit Union Times Magazine March-02, 2005

  • Credit Union Auto Lending Network Partners with Aimbridge Indirect Lending to Standardize Indirect Lending with Dealers

    LAUREL, Md. - By its own account, Credit Union Auto Lending Network's lack of standardization for its owner credit unions worked fine for the first five years the CUSO was in business. But the CUSO has learned the same lesson other credit unions involved in indirect lending have come to...

  • Converting CUs About The Only Source of New Life For Moribund Thrifts

    WASHINGON - One of the oddest sidelights to the question of credit unions becoming mutual banks may be the conversions' impact on the mutual banking industry as credit unions make the jump from a relatively small credit union industry to an even smaller segment of the overall banking world, that...

  • Congressman Royce Sees Need for Regulatory Improvements, Values Credit Union Work

    WASHINGTON-Congressman Ed Royce (R-Calif.) has gotten an earful from credit unions in his district about some of the regulatory problems credit unions are facing and decided to do something about it. In the 108th Congress, Royce introduced the Credit Union Regulatory Improvements Act (then H.R. 3579) and plans to introduce...

  • ChoicePoint Reveals 145,000 Consumers Possible ID Theft Victims

    ALPHARETTA, Ga. - Information provider ChoicePoint Inc., has alerted some 145,000 consumers that fraudsters had gained access to personal information ranging from addresses and phone numbers to social security numbers, driver's license numbers and credit reports. A company release states that the criminals, posing as legitimate small business clients using...

  • CNBS' Institute Series Marks 10th Anniversary; Sticking to its no Nonsense Educational Approach

    OVERLAND PARK, Kan. - This is the 10th anniversary for CNBS' Institute Series and while it has expanded over the years, the format hasn't changed much. CNBS President Brian Hague said the concept for the Institute, which provides investment and balance sheet education courses, started over 10 years ago when...

  • Communication Key to Retaining Top Performers

    WASHINGTON - How well a company communicates the value of its health benefits can do more towards retaining top-performing employees than the actual richness of the benefits themselves, according to a new study by human capital consulting firm Watson Wyatt. In addition, companies that cannot hold their health care budgets...

  • Board Member Matz Notes Growing Trend in Larger CAMEL 3 CUs

    ALEXANDRIA, Va.-At the NCUA Board's February meeting, Board Member Debbie Matz raised the issue of the increasing size of CAMEL 3 rated credit unions, just one step above becoming a `problem credit union' as 4s and 5s are called. "I'm not sure why it's happening, but the numbers are going...

  • Freddie Mac Introduces Suite of Low Downpayment Mortgages

    WASHINGTON -Freddie Mac has come out with a new suite of mortgage products with flexible credit underwriting standards for borrowers with limited credit and savings. Home PossibleT Mortgages is a new suite of low downpayment mortgage products to help working families and key community workers such as police, firefighters, teachers...

  • FICU Loan-to-Share Ratio Highest Since 2000

    WASHINGTON-The loan-to-share ratio for federally insured credit unions grew to 74.49% in 2004, the highest it has reached since 2000. Loans were up 10% at the same time, while delinquencies continued to decline to their lowest point in recent history at 0.72%, according to preliminary year-end data from NCUA. "Credit...

  • EPL Considers GAC its Coming Out Party; New System, New Leader

    WASHINGTON - Credit union data processor EPL was formed back in 1977, but in many ways it's a new company, says newly named EPL President/CEO Wayne Benson. In fact Benson believes CUNA's GAC will be the unveiling of the new EPL to the rest of the industry. "I view GAC...

  • Billion-Dollar Credit Unions Continue to Become the Norm as Definition of `Big' has Changed over the Past Decade

    In 1992, $325 Million in Assets Earned a Credit Union a spot on the top 100 Ranking, Today it's at least $994 Million. WASHINGTON - In 1992, being among the top 100 credit unions in assets was an easier route to take. At the minimum, a credit union only needed...

  • OFHEO Regulation Would Require Freddie Mac, Fannie Mae to Report Mortgage Fraud

    WASHINGTON - The Office of Federal Housing Enterprise Oversight has proposed a regulation to require Fannie Mae and Freddie Mac to report mortgage fraud or possible fraud to OFHEO in "a timely fashion," an OFHEO release reads. The regulation would also require the two housing Government Sponsored Enterprises to establish...

  • GAC Behind the Scenes: How CUNA Delivers a Memorable GAC Time After Time

    WASHINGTON-Much of CUNA's staff is involved at some level in putting together `The Main Event,' the theme of the trade association's 2005 Governmental Affairs Conference. Theme development begins in the fall, before CUNA's Future Forum has even come to fruition, which involves staff from the communications, special events, marketing, legislative,...

  • Bankers Systems and CUBS Business Services Partner for Lending Documentation

    ST. CLOUD, Minn. - Members being serviced by CUBS Business Services will soon have a more streamlined lending process thanks to a recent alliance. The CUSO partnered with Bankers Systems, Inc. to bring business lending documentation to its credit union clients. CUBS Business Services was founded in 2004 to meet...

  • New Retirement Plan from CUNA Mutual Offers Expanded Investment Options

    MADISON, Wis. - CUNA Mutual Group has enhanced its array of retirement investment options for credit unions by introducing a mutual fund 401(k) program. Mutual Fund Retirement Choice adds 17 name-brand mutual fund families and more than 165 funds to CUNA Mutual's existing lineup of proprietary 401(k) investment funds. In...

  • RCU Services Group Opens Unique Auto Center

    SANTA ROSA, Calif. - RCU Services Group, a wholly-owned subsidiary of Redwood CU, has opened an auto center which the $1.1 billion CU describes as "the ultimate auto buying experience." The new 2,240 square foot facility allows consumers to view an ever-changing inventory of certified pre-owned and recovered vehicles with...

  • Marie Osmond Writes Capitol Hill on CUs Work for Children's Hospitals

    WASHINGTON-Marie Osmond, co-founder of the Children's Miracle Network, recently wrote every member of Congress regarding credit unions' work for CMN, which supports 170 children's hospitals. She noted that America's credit unions have supported CMN for 10 years. "Through their Credit Unions for Kids fund raising program they have raised and...

  • Filene Research Gen Y Solutions Session Set for March

    MADISON, Wis. - Filene Research Institute is taking COOL Solutions to the next level on March 16-17 during a multi-league work session in Columbus, Ohio. As another facet to its special report entitled, COOL Solutions for Gen Y: A Guide for Credit Unions by Filene Director of Innovation Mark C....

  • SEC Schedules Roundtable on Sarbanes-Oxley Act Reporting Requirements

    WASHINGTON - The SEC is inviting the public to participate in a roundtable on the new internal control requirements under Section 404 of the Sarbanes-Oxley Act of 2002. The roundtable discussion will take place at 9 a.m. on April 13 in the William O. Douglas Room at the SEC's headquarters,...

  • Bankruptcy Reform Bill Strongly out of Senate Committee, But Contentious Amendments Still Loom

    Bankruptcy reform legislation is coming on strong out of the gates. Will the momentum last or get mired down in unrelated issues as in years past? By SARAH SNELL COOKE CU Times Senior Washington Reporter WASHINGTON-During the time slot for its usual Thursday business meeting, the Senate Judiciary Committee Feb....

  • After a Three-Decade History with CUs, Bianchini Starts the Next Chapter of His Life

    TULSA, Okla. - If retirement is an opportunity to reflect on the ups and downs of one's career, then Bob Bianchini's assessment of his more than 30-year career with the credit union industry would be that it's been quite a roller coaster ride, with several twists and turns he no...

  • FDIC, OCC Issues Joint CRA Proposal

    WASHINGTON-The Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency issued a joint notice of proposed rulemaking last Tuesday to revise reporting and other provisions under the Community Reinvestment Act. The proposal bumps up the size of the institutions permitted under the `small' bank examination from...

  • CRI Supports Tsunami Relief Efforts

    ATLANTA - Creditor Resources, Inc. (CRI), a credit insurance/technology insurance provider, has donated a total of $623,146 to benefit the tsunami relief efforts in Southeast Asia. "We are accustomed to supporting the communities where we live and work through a number of charities and activities each year," said Senior Vice...

  • ACB: No Decision on Whether to Answer Tax Panel's Call for Comments

    WASHINGTON-America's Community Bankers has not made a decision yet as to whether to respond to the President's Advisory Panel on Federal Tax Reform recent request for public comment. One of the specific items the panel is seeking comment on is aspects of the tax system that are "unfair." However, the...

  • ACUSO Offers Regional Networking Opportunities for Credit Unions

    WOBURN, Mass. - Great things happen when great minds come together - at least that's the axiom from which members of the Association of Credit Union Senior Officers (ACUSO) have been working for the past 17 years. ACUSO was formed as a way to offer professional development and networking opportunities...

  • Give us Your Logos, Passbooks, Corporate Seals: PCUA Starts Memorabilia Room

    HARRISBURG, Pa. - The Pennsylvania Credit Union Association (PCUA) is seeking help from credit unions around the state in collecting items that demonstrate their rich CU heritage. PCUA, in turn, will display the items in its headquarters to be viewed by visitors and guests. According to Mike Wishnow, senior vice...

  • Royce Sees Hope for CURIA in 109th Congress; Johnson Announces Proposal for Risk-Based Capital System

    SAN DIMAS, Calif.-Sharing the stage at the Credit Union Summit hosted by WesCorp and the California Credit Union League, Congressman Ed Royce (R-Calif.) and NCUA Chairman JoAnn Johnson shared their visions for CURIA in the coming year, focusing much attention on capital reform. Royce noted his authorship of the Credit...

  • Santa Barbara County FCU Looking on Sunny Side With Solar Energy System Loans

    SANTA BARBARA, Calif. - Santa Barbara County Federal Credit Union has a bright and sunny outlook these days with what may be the first-of-its-kind credit union loan program designed specifically to promote the use of solar energy. And the credit union is not only encouraging its members to take advantage...

  • Schwarzenegger Shelves Plan to Kill CU Advisory Committee, Other State Boards

    SACRAMENTO, Calif. - Plans to scrap the state's Credit Union Advisory Committee, along with the elimination or consolidation of 87 other state boards and commissions, have been dropped by Republican Gov. Arnold Schwarzenegger. Schwarzenegger, in a letter sent Feb. 18 to the Little Hoover Commission, an agency that reviews state...

  • Post Still Getting his Feet Wet as CUNA Mutual's CEO, Honing in on Labor Dispute, Structural Changes

    MADISON, Wis. - It's certainly not an ideal situation to step into the CEO position at a company in the midst of a labor dispute. That's exactly where new CUNA Mutual CEO Jeff Post finds himself. Post, although on the job only a month, said he's working to find a...

  • Outspoken Former CEFCU CEO Siefken Staunch Proponent of Age Limits for Board Members

    John Siefken Prepares to End Legacy as he Wraps up Board Term at CEFCU. PEORIA, Ill. - His legacy at CEFCU spans more than 30 years including years of service as a board member, but anyone who knows John Siefken is quite aware of his no-holds barred approach to defending...

  • PCUA Enters FOM Litigation in Support of State Banking Department

    HARRISBURG, Pa. - About one month after the Pennsylvania Bankers Association filed their not-so-surprising suit to have Secretary of Banking William Schenck's approval of a community charter for TruMark Financial CU overturned, the Pennsylvania Credit Union Association has made its own expected move. PCUA, on Feb. 18, entered field-of-membership litigation...

  • PCUA's Wishnow to sit on Financial Education Steering Committee

    HARRISBURG, Pa. - Mandatory personal financial education in the public schools has long been a cause for Pennsylvania Credit Union Association's Mike Wishnow, and now he's optimistic the state Department of Education is recognizing that as well. Wishnow, SVP, Communications and Marketing for the PCUA has been invited by Lydia...

  • Sherman: House Bill Would Extend Some CU Services to Non-Members in FOM

    SHERMAN OAKS, Calif. - Credit union leaders accustomed to lobbying elected officials found themselves the ones being lobbied by a U.S. congressman, who urged them to support his measure to offer "lifeline financial services" to anyone in a credit union's field-of-membership regardless of whether they were a member. "I'm here...

  • Some say Regulators Were Too Lenient in Overdraft Guidance, Others say it Has Enough Teeth

    WASHINGTON-NCUA, along with three of the other federal financial institutions regulators, issued a final joint guidance on overdraft privileges-the Office of Thrift Supervision issued a separate guidance-which has raised mixed emotions in the industry. The final guidance, according to a joint release by the regulators, is aimed at helping in...

  • Washington League's Tiered Membership System

    FEDERAL WAY, Wash. - The Washington Credit Union League has a multiple tier membership system it says takes into consideration the unique relationships the League has with out-of-state credit unions and others involved with the movement and allows them to belong to WCUL. In addition to regular affiliated dues-paying league...

  • Wegner Award Honors Two Pioneers in Credit Union Impact

    WASHINGTON - This year's Herb Wegner Award Winners will include two pioneers among credit union efforts to seek out and serve the most underserved and often forgotten people in their communities. Caryl Stewart, CEO of the $37 million Opportunities Credit Union (until recently the Vermont Development Credit Union), headquartered in...

  • Wescom's Williams is Credit Union Times' 2004 CEO of the Year

    WEST PALM BEACH, Fla. - Credit Union Times has selected Wescom Credit Union CEO Darren Williams as its 2004 CEO of the Year. With all the talented CEOs in the industry, it was a difficult choice. Williams, however, stood out above the rest last year, and here's why. Williams, 44,...

  • XP Systems Forms Separate ATM Software Management Unit, Branded as LynxGate

    MOORPARK, Calif. - You know you're doing something right as a data processor when a product you developed for your own client credit unions gets so popular with other credit unions that you have to form a separate unit to offer it industry-wide. That has played out for credit union...

  • Utah Anti-Credit Union Resolution Heads to Congress

    SALT LAKE CITY - Despite a last-ditch signature campaign by credit unions to defeat it, the Utah Senate passed 15-12 the controversial anti-CU resolution encouraging Congress to start taxing CUs and examining NCUA rulings. Undeterred by the vote which climaxed weeks of intense lobbying by both banks and CUs, the...

  • Trust Services to Ratchet Up on Credit Union Menus?

    NEW ORLEANS - As far as Tom Walker is concerned, traditional credit union services can be compared to the sinfully delicious beignets sold at Caf Du Monde in the French Quarter. The credit union offers competitive rates. The beignets taste good. The credit union is convenient. You can walk to...

  • Speaker Urges Changes in Credit Union Board Meetings

    NEW ORLEANS - Your board meets on the first Monday of each month. The agenda includes reading of the minutes of the last meeting, old business, new business and other items evidently etched in stone. Speaking on "It's Not Easy for CU Boards in the Post-Enron World," Sandra Hughes asked...

  • State Regulator Feeney Warns of Emerging Risks for Texas Credit Unions

    AUSTIN, Texas - Texas Credit Union Commissioner Harold Feeney has mixed news for Texas' 239 state-chartered credit unions. Representing a combined total of $19 billion in assets and 3.1 million members, Texas' SCCUs are healthy and offer more convenience than ever to their members. "Prospects are bright. The challenge is...

  • TechMecca 2005 Affords Opportunity to Examine Technology Trends

    NEW ORLEANS - Are you on board for a 21st century journey? That was the question posed by Terry Jones, founder and former CEO of Travelocity.com in his opening address to financial institutions at TechMecca 2005. Jones, founder of one of the most successful Internet companies, offered his unique insights...

  • One Year Later brass|CU Staying Busy Filling Young Adult Marketing Niche in Credit Unions

    CORVALLIS, Ore. - When brass Media Inc. Founder/CEO Bryan Sims burst onto the credit union scene with a bold idea of helping credit unions connect to young adults with a magazine written by and for people age 18- 25 called brass|CU Young today, Rich tomorrow - execs didn't quite know...

  • Kanjorski: Credit Unions Represent Democratic Capitalism

    WASHINGTON-Credit unions' works and philosophy are behind Congressman Paul Kanjorski's (D-Pa.) backing of credit union issues. "Credit unions represent a very core interest I've had all my life and that's developing democratic capitalism," he said. The credit union movement, Kanjorski cited, encourages people to save and offers opportunities; they also...

  • LaTourette Works for Credit Unions Because Credit Unions Work for People, Not Bottom Line

    WASHINGTON-Congressman Steven LaTourette (R-Ohio) has been a credit union member for more than 20 years and knows the value of their service. That is why he became one of the key sponsors of the Credit Union Regulatory Improvements Act in the 108th Congress. "CURIA removes many of the regulatory burdens...

  • Law Firm Builds the Case for Mutual Holding Company Structure for Some Credit Unions, But in a Lower Key

    Firm Says if the Conversion Can't be Sold to Members, Don't Bother Trying. WASHINGTON - In many ways, the offices of Luse Gorman Pomerenk and Schick belie the firm's reputation and history. As one of the leading financial service law firms in the country, as specialists in the formation of...

  • League Policies on Non-Affiliates Leaves Some Credit Unions Questioning Fairness

    WEST PALM BEACH, Fla. - Should credit union leagues allow non-affiliated CUs access to association services? The answer to that question may seem obvious to leagues and affiliated members, but there's also a lot of gray area that leave some non-affiliated CUs questioning their state league's policies. American Association of...

  • Is the Credit Union Your Primary Financial Institution?

    "They aren't my primary financial institution and I have accounts at several banks. I use the credit union here mostly for some savings. We also had a small car loan here." - Donald Renwick, GTE FCU, Tampa, Fla., $1.9 billion, 233,425 members. "I have accounts at banks also but use...

  • Hartford Healthcare CU First Connecticut SCCU to Apply for TIP Charter

    HARTFORD, Conn. - Hartford Healthcare CU is on its way to becoming Connecticut's first state-chartered credit union to have a Trade, Industry and Profession (TIP) designation. The $26 million in asset HHCU which has more than 11,000 members, applied with the Connecticut Department of Banking Feb. 2 for approval to...

  • Hit by Mergers and Competition, State Leagues Seek to Weather Financial Strains; Dues Still Main Source of Funds

    More and More Leagues Offering Vendor-type Services for Additiaonl Revenue. DALLAS - Between the demands of members seeking more tech-savvy services, the general uptick in operational expenses, and the loss of dues income from mergers, it's not surprising that chief executives of state Leagues are finding more gray hair these...

  • Identity Theft Growing Because it's a Profitable, Low-Risk Crime

    NEW ORLEANS - A stolen driver's license and a medical insurance card with an individual's social security number has a street value of $200-$250, enough to buy a drug user's next fix. Credit cards and ATM cards with personal identification numbers written on the back - pardon the expression -...

  • Maloney to be `Outspoken Advocate' to get CURIA `Serious Consideration'

    WASHINGTON-Typically, one year does not a law make, Congresswoman Carolyn Maloney explained. The Credit Union Regulatory Improvements Act is no exception. "Like most bills in Congress, it often takes one or more sessions of Congress for members and the public to fully understand an issue at hand and to take...

  • New Mexico CU Uses `Alternative Lending' Software to Serve the Underserved

    ALBUQUERQUE, N.M. - First Financial Credit Union is combining the high-tech power of a sophisticated credit-scoring system with old-fashioned credit union commitment to serving the underserved, and generating new business along the way. The $279 million state-chartered CU is using a new program called Alternative Lending to rule on loan...

  • Oklahoma Lobbying Expert: More CUs Needed to Join Lobbying Effort

    OKLAHOMA CITY - Ask anyone who's involved in lobbying and they'll probably tell you it can be a tough job - not just working with legislators but also getting people involved. But a senior partner with an Oklahoma lobbying firm whose client list includes the Oklahoma Credit Union League, among...

  • OmniAmerican Seeks Bank Charter; Second Billion Dollar CU in Less Than Two Months

    FORT WORTH, Texas. - A second Texas credit union with assets of more than one billion dollars has filed to become a mutual bank in less than two months. The $1.2 billion OmniAmerican Credit Union, based in Fort Worth applied to make the charter change on February 18, according to...

  • NCUF Taking Stock and Seeking Strategy For The Future

    WASHINGTON - In the wake of recognition from other fundraising professionals of its innovation and success, the National Credit Union Foundation is taking stock and evaluating its options for steps into the future, according to Steve Delfin, the NCUF's executive director. "I believe we have a very solid start with...

  • Membership in 2004 Makes a Slight Comeback as Credit Union Count Ends Year on a Decline

    Loan Growth Sees Highest Upswing since 2000 as Loan-to-Share, Capital-to Assets See Strong Improvements. MADISON, Wis. - It's been four years since credit unions have seen a 10% increase in the growth of their loan portfolios. This, according to CUNA Mutual Group's December 2004 Credit Union Trends Report. Credit unions...

  • MSU FCU Helps Graduates Get "Real"

    EAST LANSING, Mich. - Given the recent fascination with makeovers, Michigan State University Federal Credit Union has unveiled its own version for graduating seniors- the Real World Professional Makeover contest. Playing off the idea of preparing students for the real world, the contest will award two graduating seniors with a...

  • SBA Says Abusive Class-Action Lawsuits Curbs a `Big Win'

    WASHINGTON - Following President Bush's Feb. 18th signing of a bill that limits class-action lawsuits, SBA Administrator Hector Barreto called the move a step forward for small business owners. "This is a big win for the nation's small-business community, which after all represent 99% of all businesses," Barreto said. "Creating...

  • CULAC Makes Round of Contributions to Parties

    WASHINGTON-The Credit Union Legislative Action Committee of CUNA contributed to a number of different party committees in January. CULAC gave $15,000 each to the Republican Governors Association, the Democratic Congressional Campaign Committee, the Democratic Senatorial Campaign Committee, the National Republican Congressional Committee, the National Republican Senatorial Committee, the Republican National...

  • New Voting Poll: Is CUNA's GAC the Must-Attend Event of the Year?

    WASHINGTON - Credit unions have plenty of conference options throughout the year, but some conferences stand out as must-attend conferences. CUNA's Governmental Affairs Conference has become one of the most popular conferences for a number of reasons: access to lawmakers, high-profile regulatory and legislative speakers, an expansive exhibit hall, a...

  • Michigan League Names 2004 Federal, State Legislator of the Year

    LANSING, Mich. - The Michigan Credit Union League has named U.S. Rep. Bart Stupak (D-Menominne) and State Rep. Dave Palsrok (R-Manistee), as their 2004 Federal Legislator of the Year and State Legislator of the Year, respectively. In addition, legislative aides Patrick Rothwell, senior legislative assistant to U.S. Rep. Thaddeus McCotter...

  • Becker Rallies Troops to CUs

    ARLINGTON, Va.-NAFCU President and CEO Fred Becker gave the troops 10 good reasons to join a credit union in a recent story published in the Spring 2005 issue of Military Money, a publication of the National Military Family Association. "No matter where you are stationed, chances are there is a...

  • Jeanne D'Arc CU Partners with Project .Self

    LOWELL, Mass. - Jeanne D'Arc Credit Union has teamed up with a project based after school program known as Project.Self. The program focuses on five core subject areas and is designed to create strong links between the information taught in school and similar real life experiences. Through hands-on participation and...

  • CFA Lines Up U.S. Senators for Annual Consumer Assembly

    WASHINGTON - Sens. Charles Grassley (R-Iowa), Ron Wyden (D-Ore.) and John McCain (R-Ariz.) are scheduled to speak at the Consumer Federation of America's 38th Annual Consumer Assembly March 10 and 11. FTC Chairman Deborah Platt Majors is also expected to address attendees. This year the Assembly will focus on consumer...

  • PSCU Donates $50,000 to Tsunami Relief

    ST. PETERSBURG, Fla. - More money will be available to credit unions in the tsunami-ravaged region of South Asia thanks to PSCU Financial Services. The card processing cooperative that serves over 500 credit unions that process their card transactions with First Data Corp. has donated $50,000 to the World Council...

  • CUNA Mutual's Union Backs off GAC Plans

    MADISON, Wis. - It was all set. CUNA Mutual's union was planning on bringing its argument against the company to the GAC. The union, the Office of Professional Employees International Union Local 39, confirms that it did plan to have a visible presence at the conference and distribute information to...

  • Chartway FCU Doubles Houston Branches

    VIRGINIA BEACH, Va.- Chartway Federal Credit Union is doubling the number of its branches in the Houston area. Chartway FCU is opening four new branches in the Southwest Central Business District. "We are especially excited and proud to expand our presence in Houston," said Ronald L. Burniske, president/CEO of Chartway...

  • SSFCU, Colorado Sky Sox Preparing to Play Ball

    Colorado Springs, Colo. - San Antonio-based Security Service Federal Credit Union has stepped up to the plate to help the Minor League Baseball's Colorado Sky Sox. As part of a partnership agreement reached between the Pacific Coast League team and SSFCU, the stadium name will now be changed to Security...

  • New CUNA Summit to Help Women Build Leadership Skills

    MADISON, Wis. - CUNA will hold its first Women's Leadership Summit June 12-14 in Coronado, Calif. The association says the three-day event is "aimed at women credit union leaders and those who work toward becoming leaders." According to CUNA's 2004 Complete Credit Union Staff Salary Survey, 49% of all credit...

  • TULIP Blooms a Lot in First Year

    OLYMPIA, Wash. - A low-income credit union that took many years to organize and charter has done better than expected in its first year. The $2.3 million Thurston Union of Low Income People, the first new credit union chartered in Washington State in 10 years, began operating with the support...

  • CUNA Helps Bankers to a Plate of their own Foot

    WASHINGTON-Bankers put their own feet in their mouths; CUNA just exploits it. It may seem illogical, but the more banks achieve for themselves on Capitol Hill, the better off credit unions may be. "We don't go up to Capitol Hill and say we're opposed to lessening the burden on banks...

  • FEC Credit Association FCU to Offer Mortgage Services

    MEMPHIS - FEC Credit Association FCU, formerly known as Federal Express Credit Association FCU, has begun offering its 66,000 members mortgage services through a partnership with Nationwide Advantage Mortgage. The credit union, which provides financial services to employees of FedEx Corp., will market the mortgages and take the loan applications....

  • Credit Union Tsunami Assistance Continues

    MADISON, Wis. - The earthquake related ocean surge that devastated many seaside communities in South Asia may be out of the news, but credit union efforts to raise money for the victims continue. The National Credit Union Foundation (NCUF), has announced that it has released $170,000 for the relief effort...

  • 1st Advantage FCU Donates $80,000 for Tsunami Relief

    NEWPORT NEWS, Va. - When the call for help went out to raise money for the victims of the Tsunami Disaster 1st Advantage Federal Credit Union and its partners, the American Red Cross, WVEC-TV, and ABNB FCU jumped into action. Many donations came from school students. Teachers came in with...

  • A Look at ROA, Net Income Today and a Decade Ago

    NONE

  • 660,000 Sign Petitions Supporting Credit Union Tax Exemption

    WASHINGTON-Sixteen hundred credit union officials from across the country are hand-delivering petitions containing more than 660,000 signatures of credit union members supporting the credit union tax exemption. CUNA's Governmental Affairs Conference will serve as the peak time for delivery, but hundreds will also be delivering petitions to the home offices...

  • Bankruptcy Reform Remains a Hot Issue for Credit Unions, NAFCU Finds

    ARLINGTON, Va.-Bankruptcy reform is still very much at or near the top of most credit unions' crucial issues. Nearly 72% of the credit union respondents said bankruptcy reform was very important to their institutions, NAFCU's February Flash Report found, and 18% stated it was an important issue. In particular, 49%...

  • Paul Roye to Leave SEC Director of Investment Management Post

    WASHINGTON - After nearly seven years at the helm, Paul Roye, director of the SEC's Division of Investment Management, announced on Feb. 18 that he intends to leave the Commission in the coming weeks. Roye said he plans to pursue opportunities in the private sector. Roye became the director of...

  • WOCCU-MoneyGram Relationship Expands Remittance Services in Mexico

    MADISON, Wis. - The World Council of Credit Unions has formalized a strategic global alliance with MoneyGram that the organization says will strengthen its IRnet platform of international remittance services. MoneyGram is the second largest money transfer operator in the world. It has a presence in more than 170 countries...

  • Bush to Nominate Dugan as OCC Chief

    WASHINGTON-President George W. Bush has said that he intends to nominate John C. Dugan to serve as the next Comptroller of the Currency. Dugan is a partner at Covington & Burling, a firm specializing in banking and financial institutions regulation. Regarding government service, he previously held the position of Treasury...

  • Barron's Likes Patelco Credit Union's CD Rate

    NEW YORK - Patelco Credit Union was highlighted in a recent Barron's article for its higher-than-average rate on one of its certificate of deposit. The financial publication touted $3.5 billion Patelco for the 4.06% rate on its 11-month Spring Special Certificate. The CD requires a minimum $25,000 balance in checking,...

  • Purcell Named CCUL Director of Federal Government Affairs

    RANCHO CUCAMONGA, Calif. - Kelly Purcell, acting director of federal government affairs for the California Credit Union League, has been named director of federal government affairs. Purcell's promotion is effectively immediately. She will report to Bob Arnould, SVP, government affairs. In her new position, Purcell will oversee CCUL's advocacy efforts...

  • SBA Launches New Faith-Based and Community Initiatives Center

    WASHINGTON - The SBA has created a Center for Faith-Based and Community Initiatives to help non-profit, grassroots organizations learn about and have access to SBA-backed programs and loans. As part of the initiative, all current technical assistance grant recipients - including SCORE, Women's Business Centers, and Small Business Development Centers...

  • Redstone FCU Raises Over $21,000 For Tsunami Survivors

    BIRMINGHAM, Ala. - Redstone Federal Credit Union has presented a total of $21,373.38 to the American Red Cross for its Tsunami/Earthquake Relief Fund. Since January 7, in a partnership with the community, Redstone FCU has been collecting donations from members, volunteers and staffers. "As a result of what happened overseas,...

  • Newport News Shipbuilding Community Charter Would be Largest Ever Granted by Regulators

    NEWPORT NEWS, Va. - Newport News Shipbuilding Employees CU has applied for a community charter with the Virginia Bureau of Financial Institutions which, if approved, would be the largest community charter ever granted by state regulators. The $792 million CU, which currently has approximately 73,000 members, applied for approval to...

  • Cunningham, Updike Elected to Expanded RMJ Foundation Board

    RANCHO CUCAMONGA, Calif. - The board of the RMJ Foundation has two new members. Mary Cunningham, CEO, USA FCU, San Diego and Jim Updike, CEO, Honda FCU, Torrance were each elected to serve three-year terms. That brings the number of members on the RMJ Board to 13. Cunningham and Updike...

  • EECU Brings Stanley Cup to Fans

    FORT WORTH, Texas - While there won't be a professional hockey season this year, EECU employees and members still had the opportunity to see the Stanley Cup in person. No the Dallas Stars weren't playing. The Cup was at a Fort Worth Brahmas minor league hockey game, along with former...

  • MEMBERS TALK: Even Happy Members Not Afraid to Ask for More From Their Credit Union

    WASHINGTON - Conferences like CUNA's GAC are a great place to network with other credit union leaders, but they don't shed much light on what credit union members think about credit unions. After all it's the members that every single credit union issue boils down to. Bankruptcy reform is about...

  • Online Registration Now Open for SBA Expo '05: Celebrating National Small Business Week

    WASHINGTON - Small business owners, entrepreneurs and others who would like to take part in the National Small Business Week celebration in April at the U.S. Small Business Administration's SBA Expo '05, can now register online to attend the event. The annual celebration honoring the National Small Business Person of...

  • January Sees Large Merger, Underserved Area Addition, but Monthly Totals Do Not Stand Out

    ALEXANDRIA, Va.-As previously reported in Credit Union Times, a large merger and adoption of an underserved area were out of the norm, but NCUA's monthly totals for the two categories were not. Pennsylvania saw charter activity among some large credit unions in January, according to NCUA's January 2005 Insurance Report...

  • Consumers Union Offers Guide to Order Free Credit Reports

    WASHINGTON-The Consumers Union is working to educate consumers on how to obtain and make corrections to their free credit reports. The Federal Trade Commission has begun rolling out the free credit reports program under the Fair and Accurate Credit Transactions Act. Beginning March 1, consumers living in the Midwest (including...

  • CUNA Adapts Strategically as Congress Shifts Right

    WASHINGTON-The more things change, the more some things stay the same. As more members enter Congress with an `R' beside their names, CUNA's strategy for lobbying Congress has shifted but its focus remains the same. Regardless of who is in control, CUNA continues to pursue what is best for its...

  • Annaloro Meets with Russian Delegation and CU President

    FEDERAL WAY, Wash. - In a first for the Washington Credit Union League, the president of an-ag based credit union in Russia paid a visit to the headquarters here as part of an economic and trade exchange by a Russian delegation arranged by the Foundation for Russian American Economic Cooperation....

  • Two Washington Credit Unions Poised to Merge on April 1

    VANCOUVER, Wash. - City Employees of Clark County Federal Credit Union and iQ Credit Union have announced their decision to merge. Together, both credit unions will serve more than 37,500 members with assets of $306 million and will have more than 160 employees. Benefits to the members of a combined...

  • CDs from Community Banks in Social Security Reform May Work, Congressman Suggests

    WASHINGTON - Rep. Tom Feeney (R-Fla.) is encouraging Congress to consider certificates of deposit as an option within President Bush's proposal to privatize Social Security. In a Feb. 15 letter, Feeney asked William Thomas, chairman of the Committee on Ways and Means, to consider CDs offered by a community bank...

  • Expense-Minded N.C. League Slates Fall Marketing Conference

    GREENSBORO, N.C. - In a joint venture with an eye on drawing attendance from the entire East Coast, the North Carolina and Virginia Credit Union Leagues will be holding a first-time Eastern Marketing Council Conference this September in Asheville. "With the big marketing meetings this year of CUES and CUNA...

  • Freddie Mac Launches "Don't Borrow Trouble"T

    SACRAMENTO, Calif. - Freddie Mac was joined by the City of Sacramento and the Home Counseling Center on Feb. 18 for the kickoff of a new public education campaign aimed at preventing predatory lending and other financial abuses in Northern California. Speaking at a press conference at the launching, Freddie...

  • CFOs Target of CUNA Mutual's New Investment Advisory Service

    MADISON, Wis. - A new program aimed at helping chief financial officers enhance credit union financial performance through effective investment management and strategy is on the way from CUNA Mutual Group. CUNA Mutual Group, in conjunction with its registered investment advisor affiliate, MEMBERS Capital Advisors, has launched Investment Advisory Services....

  • Measuring Real Estate Values by PE

    NEW ORLEANS - As assistant dean at Tulane University's Freeman School of Business, Peter Ricchiuti is comfortable teaching the importance of price/earnings ratios and what they mean to stock prices. So when he spoke to the Education Credit Union Council here, Ricchiuti took the concept one step further. When you...

  • Credit Unions Sold Roughly 65 Card Portfolios in 2004

    PORTLAND, Ore. - Approximately 65 credit unions in the U.S. sold their credit card portfolios worth over $1 million and entered into agent relationships with the purchasers, according to Asset Exchange, a leading independent broker of credit union card portfolios. An analysis of NCUA's end of year data showed that...

  • Maloney to Receive NYSCUL's Legislator of the Year Award

    LATHAM, N.Y. - U.S. Rep. Carolyn Maloney (D-N.Y.) has been chosen by the board of the New York State Credit Union League as this year's recipient of their Legislator of the Year award. The award will be presented to Rep. Maloney at a reception March 1 during CUNA's GAC. The...

  • Wright-Patt CU Sends Care Packages to Troops

    FAIRBORN, Ohio - Wright-Patt Credit Union, Inc. recently organized a donation drive called Operation: Support Our Troops to help military service members stationed overseas. With the help of members and local residents, Wright-Patt CU has collected enough donations to create and ship 47 care packages, for a total weight of...

  • Freedom CU Staffers Send Tsunami Aid

    Philadelphia - In keeping with the credit union philosophy of "People Helping People," Freedom Credit Union employees recently sent a check for over $2,300 to the American Red Cross Tsunami Relief Fund. Like most Americans, Freedom employees were anxious to contribute to the relief effort aimed at helping millions of...

  • Vantage Credit Union Donates to Special Ed

    ST. LOUIS - Vantage Credit Union has donated $5,000 to the Special Education Foundation. Established in 1984, the Special Education Foundation provides financial resources such as scholarships, student recognition and leadership programs. Scholarships are awarded to students with disabilities who plan on obtaining higher education at a college or university...

  • New Legislation CUNA Will Follow

    * Congressmen Paul Kanjorski (D-Pa.) and Bob Ney (R-Ohio) plan to introduce national predatory lending standards to preempt states. * CUNA will mostly stay out of the government sponsored enterprises debate, but one provision would give the new regulator authority over products and services and CUNA does not want to...

  • CURIA's Champions, the Lawmakers Behind Bill's Push in 109th Congress

    WASHINGTON-The Credit Union Regulatory Improvements Act is the first major piece of credit union legislation to go through Congress since the Credit Union Membership Access Act of 1998. Since that time, nearly one-third of the members of Congress are new, but there are certainly some who do not need an...

  • Marents, Wiwaks Bar Progress in Marketing to Kids

    NEW ORLEANS - If you want to bring Generation Y into your credit union membership, don't be a Marent or a Wiwak. That warning comes from Paula Felten, head of marketing at Jeffco Credit Union in Lakewood, Colo. Speaking at a breakout session during the Education Credit Union Council annual...

  • Bankers Use Humor to Sway CU Supporters

    WASHINGTON-The American Bankers Association is trying a new tactic in winning people to their side in the credit union versus banker battle: making them laugh. In a recent column on www.aba.com, American Bankers Association Senior Economist Keith Leggett borrowed from Jeff Foxworthy's famous "you might be a red neck if."...

  • Purdue EFCU CFO Appointed to NACHA Committee

    WEST LAFAYETTE, Ind. - Brian Musser, VP of Finance/CFO for Purdue Employees FCU was appointed to the Government Relations Advisory Committee for the National Automated Clearing House Association. His appointment is a two-year term. NACHA's Government Relations Advisory Committee provides industry input to new and revised government regulations affecting Automated...

  • NRL FCU Donates Slice of History to Schools

    WASHINGTON - NRL Federal Credit Union has donated American History classroom educational resource kits produced by the award-winning The Colonial Williamsburg Foundation. These kits were presented to Fort Foote Elementary School in Fort Washington, Maryland and to Ellen Glasgow Middle School in Alexandria, Virginia. Designed to help interest and educate...

  • Straight From the Mouths of Members; Feedback From the Owners

    WASHINGTON - Conferences like CUNA's GAC are a great place to network with other credit union leaders, but they don't shed much light on what credit union members think about credit unions. After all it's the members that every single credit union issue boils down to. Bankruptcy reform is about...

  • Members Flocking to Volunteer Income Tax Assistance Program at US FCU

    BURNSVILLE, Minn. - US Federal Credit Union's Volunteer Income Tax Assistance (VITA) Program is off to a roaring start just six days after its launch. According to the $573 million credit union, so far, 73 returns have been processed, which have generated more than $160,000 in refunds. That number already...

In Other News

  • DONATIONS

    White Crown Federal Credit Union, Denver, Colo., has donated more than $8,000 to Urban Peak, a nonprofit agency that provides services to homelss youth and those in at-risk situations. Urban Peak provides such services as overnight shelter, healthcare, education, evening cultural arts activities and job placement. Funds were raised through...

  • AWARDS

    Michigan State University Federal Credit Union, East Lansing, has recognized its top-performing employees during the Annual Crystal Award Dinner. Fellow employees nominated the winners with final selection made by the executive committee. This year's winners include Deb Premoe, senior class specialist; Lea Ammerman, manager of the Westside branch; and Paula...

News

  • CUSCAL Develops National Positioning Statement

    SYDNEY, Australia - Although Australian credit unions constantly win kudos on surveys for their client service, they still face stiff competition from banks. The Credit Union Service Corporation of Australia (CUSCAL) has just released an implementation guide to help their credit union members to position themselves without compromising their individual...

  • GAC Behind the Scenes

    See what it takes to get GAC off the ground. Page 50.

  • Irish CU Foundation Fights Poverty

    DUBLIN, Ireland - What do garlic, goats, water supplies and hurricanes have to do with credit unions? Each of these seemingly diverse things has been related to programs run by the Irish League of Credit Unions (ILCU) Development Foundation as they fulfil their mission to contribute to the relief of...

  • All Business With Barreto

    SBA Administrator Barreto says CUs can do even more. Pages 26-27.

  • New South African Bill to Strengthen Credit Unions

    CAPE TOWN, South Africa - A bill that would create a government support organization to oversee Co-operative Banks and Savings and Credit Cooperatives (SACCOs) is working its way through the Parliament of South Africa. SACCOs are South African credit unions. The bill came about after a Financial Sector Summit was...

Tech Bytes

  • Deere & Company Credit Union Relies on Web-Based Preparedness Platform

    MOLINE, Ill. - Should the day ever come, the staff at Deere & Company Credit Union will know what to do if a tornado renders useless the credit union's sole office. That was the scenario the $203 million credit union chose as its test case when it recently reviewed the...

  • BofA Hit with Lawsuit Over Phishing Loss in Wire Transfer

    FRAMINGHAM, Mass. - Credit unions might want to keep a close eye on a lawsuit filed in February by the small-business victim of a phishing scam against one of the biggest catches of all, Bank of America. Business owner Joe Lopez, whose company sells printer ink and toner, filed suit...

  • Denver Credit Union Deploys Browser-Based Time Management System

    DENVER - You can do a lot of things with a Web browser nowadays, including keeping track of your time clock. That's what Kim Oliver does. The CEO of $8 million HealthONE Federal Credit Union has been using the TimeIPS personnel management system from Stratitec Inc. of Wichita, Kan., for...

  • Passageways Adds Seven New Credit Union Users

    WEST LAFAYETTE, Ind. - Passageways LLC continues to gain traction in credit union land, with the portal-providing CUSO signing seven new clients so far this year. "An increasing number of credit unions seem to prefer investing in a portal platform rather than building an intranet in-house," says Paroon Chadha, vice...

  • Georgia Central's MemberMatch Program Sparks Cooperative Spirit

    DULUTH, Ga. - Georgia Central Credit Union says that 166 credit unions across the country have signed up so far to use its MemberMatch secure loan participation Web site at www.gacentral.org/ www/MemberMatch.asp. The program allows credit unions to buy and sell loans among themselves over the Internet and has picked...

  • Corillian Says Clients Signing on to Anti-Fraud, Phishing Solution

    PORTLAND, Ore. - Corillian Corp. says more than 20 credit unions and banks have signed up so far to use its new Corillian Fraud Detection System. The online banking vendor says its system centers on a patent-pending Web log analysis solution and methodology that identifies potential phishing behaviors before an...

  • Online Account Opening Getting Legs for Leading-Edge Adopter Toyota FCU

    TORRANCE, Calif. - Since November, Toyota Federal Credit Union has been using an automated online account opening process that lets someone else's fingers do the walking through those long lists of names at credit bureaus, government watch lifts and more. The $220 million, 16,000-member CU is one of the 13...

  • NASA FCU Launches One-to-One Web Marketing Solution

    BOWIE, Md. - NASA Federal Credit Union members will now get personalized, targeted marketing messages when they use their credit union's online services. The $697 million CU has launched WebMRM, a Web-based marketing system from aaBeck Technology Group, which has been offering the product for about a year. WebMRM uses...

  • Touhey to Lead Fiserv's U.S. Item Processing Operations

    BROOKFIELD, Wis. - Fiserv, which is the largest third-party item processor in the country, has named Michael Touhey to lead its U.S. item processing operations. Touhey will be responsible for Fiserv's check and image processing operations here in the U.S. Touhey's 20 years of experience include 10 years as a...

  • eCU Technologies Adds Symitar Epysis Service Bureau Offering

    HARRISBURG, Pa. - eCU Technologies is marking another step in its evolution as a provider of technology solutions to credit unions - as a service bureau for core processing. The tech CUSO for $2.3 billion Pennsylvania State Employees Credit Union is now offering a service bureau solution to credit unions...

  • Data Security, Compliance Specialist Intrusion Inc. Joins CUISPA

    AUSTIN, Texas - Intrusion Inc., a veteran provider of data security services to e-commerce and the military that's now moving into the community financial services market, is the newest member of the Credit Union Information Security Professionals Association. Intrusion Inc. has joined the newly formed CUISPA as a charter affiliate...

  • DI, CheckFree Migrate Mutual Clients to Bill Pay Upgrade

    CALABASAS, Calif. - Digital Insight's clients using CheckFree Corp. bill pay solutions are now on the new CheckFree Web service, the companies said. DI is the first CheckFree re-seller to launch the upgrade, which features a single-point bill management center for consumers to manage billing information from one screen. Enrollment...

  • NYS League to Introduce New Online Compliance Information System

    LATHAM, N.Y. - The New York State Credit Union League on Feb. 22 will introduce its new "InfoSight: Direction for the Future " online compliance system which will provide CUs with a direct link to fast-changing CU compliance information in New York State as well as the ability to access...

  • DI Expands its Business Services

    CALABASAS, Calif.- Internet banking vendor Digital Insight has launched a new business banking application specifically for credit unions. Member Business Services features electronic funds transfer via ACH or wires, online bill payment for small business and positive pay to help prevent check fraud. Mountain America Credit Union was one of...

  • Going First: Maine CU Converts from RDS to New Owner OSI's Platform

    WESTBROOK, Me. - Evergreen Credit Union has become one of the first of the 100 or so clients of the former re:Member Data Services to commit to the core platform from the company's new owner, Open Solutions Inc., the company says. The $102 million CU will convert to OSI's relational...

  • Summit Adds Contact Management Functionality to Offerings

    CORVALLIS, Ore. - Summit Information Systems is now offering new contact management software to its more than 290 credit union clients. The enterprise relationship management suite was developed in collaboration with corporate owner Fiserv's Customer Center Solutions Division. The browser-based solution gives credit union employees a complete history of contacts...

Opinion

From the Board Room

  • Firestone FCU Board Draws on Many Years in CU Service

    AKRON, Ohio - Don't talk to Firestone Federal Credit Union about younger board members. The $210 million credit union stands behind the wisdom/value that comes with age and the over 33 years of credit union service under its board members' belt - so it is a source of pride that...

  • CUES Offers Self Assessment for CU Boards

    MADISON, Wis. - CUES has launched The Self-Assessment for Credit Union Boards to help credit union boards determine if they are operating at optimum performance. Designed jointly by CUES and BoardSource, the online program touts that it takes the guesswork and bias out of the board evaluation. Here is how...

  • Langley FCU Names New Director

    NEWPORT NEWS, Va - Langley Federal Credit Union has recently elected E. Andrew Keeney board director. Keeney brings over 25 years of real estate and credit union law experience to the board and currently practices as an Attorney with Kaufman & Canoles. Keeney is a 1976 graduate of The American...

  • Las Vegas Setting for 28th Annual National Directors' Convention

    ROCKVILLE, Md. - The National Center for Credit Unions 28th Annual National Directors' Convention will be held August 2-5 at The Venetian Hotel in Las Vegas. Given climbing interest rates dampening mortgage lending and the fierce competition, this year's convention focuses on providing solutions to credit union board challenges with...

Publisher's Column

  • CEOs Make the Credit Union World Go Around

    When it is time to give out accolades for the success credit unions have enjoyed over the years, the line up of potential recipients is bound to be a long and diverse one. However, at the head of such a line would be credit union CEOs. Granted, credit union CEOs...

Letters to the editor

  • Don't Underestimate Value Of Small Credit Unions

    Mike Welch's recent publisher's column, "Waving the Flag for Small CUs Not Smart," touched on the comparison of small credit unions to the mom and pop businesses that have disappeared amidst the propagation of chain restaurants and mega stores. Given the sensitivities of this issue, I think it's important to...

  • Only Selfish Interests Driving CU-to-Bank Conversions

    Mike Welch's column in the Feb. 9 issue and the accompanying letters it spurred from two long-time friends, Jack Dublin and Dick Robertson regarding credit unions converting to banks, sparks another "old timer" to add to the resistance force. I simply cannot believe that non-credit union people would use such...

  • Let's Take PR to the Next Level

    A few weeks ago, publisher Mike Welch addressed missed opportunities in public relations within the credit union system. Senior Reporter Myriam DiGiovanni continued the discussion last week with a report on the marketing power of good PR. Given this recent interest in public relations, I think it's important to share...

Beyond the Job

  • Diana Dykstra, Wine Connoisseur

    SAN FRANCISCO - Nobody knows if Miles Raymond belongs to a credit union, but chances are if he had his druthers, he'd be a member of San Francisco Fire Credit Union. That's because Raymond - the character in the critically acclaimed motion picture "Sideways" - would have loved talking, sipping...

  • Sailing Teaches Holub Some Life Lessons

    ST. LOUIS - Rosie Holub has been sailing since she was seven, and the lessons the sport has taught her are things she continues to apply to her professional and personal life. Growing up in Delafield, Wis. on Lake Nagawicka, Holub's father made his living building inland racing boats, primarily...

  • Man in Stripes Also Calls IS Shots for Washington Credit Union

    VANCOUVER,Wash. - When it comes to multitasking, Jim Morrell's got it coming and going. By day, he's the vice president of information services at iQ Credit Union, helping shepherd the growing list of high-tech services and responsibilities at the $282 million community institution. He also is active in the industry,...

  • Simpson Takes Pride in his "Illness"

    KAYSVILLE, Utah-A newcomer to historic home preservation and renovation, Scott Simpson, president and CEO of the Utah League of Credit Unions, calls the 1884 Queen Anne-style home he and his wife purchased a couple years back "a painful subject." This was something he always wanted to do, Simpson explained. "This...

  • Got Land? Add Some Cows, says Foster

    TAMPA, Fla. - When GTE Federal Credit Union Vice President of Real Estate Management Stephen Foster and his wife purchased a 3.5-acre property last year he had no idea that he'd be raising cows. "I'm very involved with my church and one of my friends at church happens to raise...

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

    WEST PALM BEACH, Fla. - So many of the people appearing in the pages of Credit Union Times are known for just one thing - the role they play in the credit union industry. But what happens when they're not conducting credit union business? In Beyond the Job, Credit Union...

News Briefs

  • Cline Dion Provides NAFCU Annual Conference Entertainment

    ARLINGTON, Va.-NAFCU is certainly `Raising the Stakes' with the evening entertainment it has booked for its annual conference in Las Vegas this summer. Cline Dion's "A New Day." one of the most popular shows in Las Vegas, will serve as Friday evening's entertainment for the conference July 13-16 at the...

  • Johnson Working Closely With White House on Budget Effects on Community Development Credit Unions

    NCUA Chairman JoAnn Johnson discusses the President's 2006 budget with White House Office of Management and Budget Director Joshua Bolten. The budget includes the elimination of the CDFI Fund. Johnson says community development CUs should be excited however that a wider variety of funding opportunities will be available from the...

  • NCUA Charters Third New Low-Income CU in Less Than 90 Days

    ALEXANDRIA, Va. - Members of the Love Gospel Assembly church, located in the Bronx, New York, have long relied upon their church for a variety of services, from housing assistance to medical care, and now they will be able to count financial services as well. NCUA has announced the charter...

  • NAFCU Names Somers New PR Manager

    ARLINGTON, Va.-NAFCU has announced that Rebecca Somers has replaced John Zimmerman as public relations manager effective Feb. 22. Somers has a wealth of public relations knowledge. She most recently served as public relations director for Promisant, a global multi-currency electronic financial services company. There, she managed press and analyst relations,...

  • Brancucci Named CEO, Prime Alliance Services Co.

    TUKWILA, Wash. - Joe Brancucci, president/CEO of Prime Alliance Solutions, has been named CEO of Prime Alliance Services Co. LLC. Prime Alliance Services was formed last year by Prime Alliance Solutions and Dexma to streamline loan fulfillment for credit unions and bring greater efficiencies to the mortgage lending process. John...

Marketing

  • Texas Partners FCU ADDY Winner

    KILLEEN, Texas - Texas Partners Federal Credit Union has walked away from the Central Texas Ad League Annual Advertising Awards Banquet with four ADDY Awards for creative excellence. Texas Partners FCU took home a Gold ADDY for the "Texas Partners Brochures", a Silver ADDY for the "Need an Extension? Campaign",...

  • PSB Offers Savings Campaigns

    LAKE FOREST, Calif. - Turnkey marketing solutions provider PSB, The Marketing SuperSource has unveiled its latest marketing campaigns for Bump-Up Certificates and Individual Retirement Accounts. Each campaign includes print ads, direct mail and in-branch support materials along with television and radio spots, which can be customized. Playing off metaphors the...

  • EECU PR Director Named Keller Chamber Member of the Year

    FORT WORTH, Texas - EECU Public Relations/Business Development Director Jan Smith has been named Member of the Year by the Greater Keller Chamber of Commerce. Smith is currently serving her third year on the Keller Chamber Board of Directors and counts as one of her major accomplishments chairing the 2004...

  • Credit Union Superbowl Promotions Generate Big Returns

    WEST PALM BEACH, Fla. -They may have been on opposite sides of the field but both Scranton, Pennsylvania-based Tobyhanna Army Depot Federal credit union and Massachusetts-based Saugus Federal Credit Union scored big when it came to their SuperBowl promotions. For TADFCU, although their football team lost, the promotion itself was...

  • MSU FCU Launches New e-Commerce Department

    EAST LANSING, Mich. - Michigan State University Federal Credit Union has unveiled a new e-commerce division headed by April Clobes, who has been promoted from e-commerce manager to assistant vice president of e-commerce. Over 550,000 visits are made monthly to the MSU FCU Web site and plans are underway to...

People

  • SOUTH

    Keesler Federal Credit Union, Biloxi, Miss., has promoted Larry Mayo to vice president of information technology and Chris Sliga to systems support specialist.

  • MIDWEST

    Affinity Plus Federal Credit Union, St. Paul, Minn., has promoted Sarah Sackett to vice president of relationship management.

  • IN MEMORIAM

    Bayer Federal Credit Union, Elkhart, Ind., former board director Margaret Michiels has died at the age of 94. Michiels served on the board of Michiana Federal Credit Union from 1956 through 1999 and served as board president for nearly half those years. She retired from service following Michiana FCU's merger...

  • VENDORS

    Aimbridge Lending, a provider of financial products through partnerships with credit unions, has named Kimberly Gray business manager for the sales/marketing department of its Missouri market. The FCUL Service Group, Inc., the service corporation for the Florida Credit Union League, has named Lisa Hammock staff development consultant for HRx and...

  • SOUTHWEST

    Fort Bliss Federal Credit Union, El Paso, Texas, has named Brian Cedergren executive vice president of administration.

  • WEST

    Kitsap Community Federal Credit Union, has named Lynne Bowman real estate operations manager. Redwood Credit Union, Santa Rosa, Calif., has named John Pavelka business relationship officer. Nevada Federal Credit Union, Las Vegas, has appointed the following employees: Jennifer Brown executive office secretary/receptionist; Susan Browning financial service associate; Denise Fernandez, Norma...

Special Report

  • "Quiet" Zones Can Help Offer Unique CU Experiences for Members, Employees Alike

    WEST PALM BEACH, Fla. - Next time a member is looking for a little tranquility they may want to step into a credit union. Experts say space dedicated purely for the pleasure of members might seem like "wasted space", but it can create another opportunity for members to make a...

  • How Will Your Credit Union Handle Rising Interest Rates?

    Credit union investments have taken quite a ride over the past two years, and credit unions need to react, but how? First, a word about how we arrived at our current situation. Deflationary fears sent Treasury yields to 45-year lows during the summer of 2003.The bond rally came amid comments...

  • SunCorp Members Consider Balance Sheet Strategies for `05

    DENVER - SunCorp held its Balance Sheet Strategies for 2005 presentations in January throughout Colorado, Utah, and Nebraska, focusing on investments, ALM, loans, and SunCorp's new Loan Services Program. Mark Schieffer, Senior Vice President of Investments/Chief Investment Officer, and Jo-Nell Herndon, Vice President of Risk Management, presented to SunCorp's members,...

  • Corporate Central Unveils Online Security Safekeeping Access

    HALES CORNERS, Wis. - When it comes to the safety of investments, credit unions can look to Corporate Central's safekeeping program to safekeep Treasuries, agencies, and other securities. But recently, Corporate Central launched an Internet based securities safekeeping program, which is accessible 24/7 through the corporate's Web site. Members are...

  • Empire Corporate Lines up Economic Forum Speakers

    ALBANY, N.Y. - Empire Corporate Federal Credit Union has announced its Economic Forum speaker line-up slated to run April 13 - 14, 2005, at the Crowne Plaza here. This year's speakers and sessions include the following: Empire Economist Dr. Nick Perna- Stay on Solid Ground when Policy Shifts; Economist Dr....

People Feature

Publisher's Notebook

  • Something for Everyone

    At 152 pages, this weekly issue of Credit Union Times sets another record for most pages and advertising in a single weekly issue. We are proud of that. We are prouder still of what this and virtually every issue contains. Letters for example. Over two dozen have been run so...

Pictorial

  • Special Pictorial: Mica's Guided Tour of the Capitol Building

    WASHINGTON-When members of the House saw his interest and skill in showing visitors around the Capitol, CUNA President and CEO Dan Mica, a former Democratic congressman from Florida became the natural choice as a tour guide to VIPs. When in town, one should take up an offer for a guided...

  • Secret Chambers

    The tour also covered the House and Senate Chambers. Photos are not permitted at anytime in the chambers. Mica said that there are still bullet holes in the ceiling and in a desk from when Puerto Rican separatists stormed the House chambers in the 1950s. He also recalled a day...

Voting Poll

Advertisement. Closing in 15 seconds.