Credit Union Times Magazine March-16, 2005

  • Altura CU New Branch Reaches out to Underserved

    RIVERSIDE, Calif. - Altura Credit Union is hoping its latest branch will make a big difference to an area historically underserved by financial institutions. Altura Credit Union's Coachella branch is the first credit union and only the second full-service financial institution serving Coachella and the unincorporated communities in the surrounding...

  • Bankruptcy Reform May Soon Be Reality as Senate Bill Makes Headway

    WASHINGTON-Now that a motion to invoke cloture was decidedly approved, the bankruptcy reform bill could be well on its way to becoming law. Credit union lobbyists indicated that the 69-31 Senate vote in favor of cloture, a motion with a 60-vote minimum to limit debate to a maximum of 15...

  • Utah League Upheld by FEC on 2002 Practices in Congressional Race

    SALT LAKE CITY - Nearly three years after Utah banks filed complaints, the Federal Elections Commission has finally put to rest accusations the Utah League of Credit Unions and eight of its members acted improperly in supporting the successful campaign of U.S. Rep. Rob Bishop (R. Utah) in defeating a...

  • National Journal Congressional Poll Ranks CUNA Among Most Effective Lobby Groups

    WASHINGTON-CUNA was named one of the "most effective" organizations lobbying Capitol Hill, according to a National Journal poll of 82 members of Congress. National Journal's Congressional Insiders Poll ranked CUNA among the top 10 on the Republican side, receiving three votes. CUNA obtained one vote from the Democrats polled. The...

  • Credit Union Economics Group, Kansas Federal Reserve Bank to Meet

    WASHINGTON - Members of the Credit Union Economics Group will meet with officials of the Federal Reserve Bank of Kansas City in the group's continuing efforts at building awareness of credit unions' role in delivering consumer financial services. The April 12 meeting in Kansas City will be attended by Thomas...

  • Deposit Insurance Reform Bill Reintroduced

    WASHINGTON-House Financial Institutions and Consumer Credit Subcommittee Chairman Spencer Bachus (R-Ala.), in alliance with the leadership of the full Financial Services Committee, resurrected legislation to reform the deposit insurance system. As in the past few years, the bill would merge the Bank Insurance Fund and the Savings Association Insurance Fund;...

  • SEC Extends Deadline for Banks on Broker Requirements

    WASHINGTON - The SEC has issued an order extending the date for banks to comply with certain broker registration requirements to Sept. 30. The requirements, which are contained in the Gramm-Leach-Bliley Act (GLBA) would allow banks to engage in securities activities without registering as a broker or dealer. The SEC...

  • Campaign Underway Encouraging Passage of President's Retirement Savings Plans

    WASHINGTON - A new effort was recently launched to push for the passage of President Bush's various savings accounts. Treasury Secretary John Snow joined Sen. Craig Thomas (R-Wyo.) and Rep. Sam Johnson (R-Texas) on March 8 in the launch of the Save Initiative, which is an effort to pass legislation...

  • CUNA Councils Prepare for Lucky 3,000

    MADISON, Wis. - CUNA Councils are gearing up to celebrate the 3,000th member with a $3,000 professional development scholarship and a complimentary 2005 membership for the individual's credit union. The scholarship and complimentary membership in each of the six councils -CFO; HR and Training & Development; Lending; Marketing & Business...

  • NCUA Preempts Puerto Rican Consumer Lending Law for FCUs

    ALEXANDRIA, Va.-Federal law preempts the Puerto Rico Retail Installment Sales and Financing Companies Act (RISFCA) for federal credit unions, according to a recent legal opinion letter from NCUA. In Legal Opinion Letter 04-0727, NCUA Associate General Counsel Sheila Albin wrote that it is NCUA's opinion that federal law preempts the...

  • Maryland, Virginia Leagues in Running as Merger Partner with D.C. League

    ALEXANDRIA, Va. - Wanted: One Good Merger Partner. After eight years of operating as an independent league with its own board and with a management agreement with the Virginia Credit Union League, the D.C. Credit Union League is exploring the option of merging. DCCUL Chairman Theresa Mann, president/CEO, FDIC FCU...

  • Long-Vacant Land Proves Ideal for E&A CU

    PORT HURON, Mich. - The new home of E&A Credit Union is property with, well, a past. In fact, The Port Huron Times Herald used the phrases "high-profile" and "contentious" in referring to the parcel. Although it's a downtown river-front site that should lure buyers, at least one deal has...

  • SECU Honored for its Support of Enlisted Staffers

    RALEIGH, N.C. -State Employees' Credit Union (SECU) has received a Five Star Recognition from the Employer Support of the Guard and Reserve (ESGR) organization. The Five Star Recognition was given to acknowledge SECU's support of men and women, currently employed with SECU, who are serving in America's National Guard and...

  • Utah Petitions Could Hit 150,000 as Anti-Credit Union Sponsor Speaks Out

    SALT LAKE CITY - It looks like those signatures of Utahns on "Save My Credit Union" petitions to Congress could hit 150,000 by the time they get packaged and shipped to Washington, but the question remained last week as to when the Utah legislature might actually send off its anti-CU...

  • Using Member Raffle, Montana Network Scores Bigtime in CULAC Fund-Raising

    HELENA, Mont. - When it comes to political fund raising, the Montana Credit Union Network has discovered an old-style technique can simply work wonders: sell inexpensive raffle tickets to members for prize giveaways. Officials of the League agree that it's not a vehicle that brings in huge dollar amounts but...

  • `Single Digit Momentum' Seen by Many Credit Unions in 2004's Fourth Quarter

    WASHINGTON - As chief executive officers and others continue to weigh in on the magnitude of small credit unions to the movement, the latest industry figures revealed a pressing area of concern: many had negative share growth and member growth in 2004. This was one of the startling findings highlighted...

  • Labor Credit Union in Ohio Struck Over Salary Dispute; CU says Salaries Already High For Industry

    DAYTON, Ohio - The one thing that both sides of the strike at the $91 million Day-Met Credit Union appear to agree upon is that the fight is essentially about salary and not health benefits, as has been the trend in other places, although the strikers charged the credit union...

  • Borrower Shortage May Force Credit Unions to Rethink Courting Younger Members

    MADISON, Wis. - Credit unions may soon be facing a "borrower shortage," but can rise to the challenge by planning now to deal with changing demographics, according to a recently released CUNA report. According to the new E-Scan Insights Series report "Exploring Members & the Credit Union Brand," more than...

  • Bentley May Be Headed to Prison for up to 30 Years After Pleading Guilty to Sale of Fake Cds

    Credit unions, banks and others invested more than $370 million with Bentley Financial, defendant also facing $3.25 million fine. PHILADELPHIA - Nearly three months after fraud and bribery charges were brought against Robert L. Bentley for selling credit unions, banks and other investors fake CDs, he pleaded guilty on March...

  • CUNA Mutual Hits Record Profits in '04, But Still Misses Own Financial Goals

    MADISON, Wis. - Given that it touches about 95% of credit unions in one way or the other and it's embroiled in a labor dispute that has turned out to be all about money, CUNA Mutual's year-end '04 results are certainly worth exploring. The company has said throughout its labor...

  • Federation Launches Center to Help CDCUs Offer More Mortgages

    NEW YORK - The National Federation of Community Development Credit Unions has launched an initiative aimed at helping community development credit unions both offer more mortgages and sell the mortgages they have already made. The CDCU Mortgage Center, LLC has started with one million dollars from the U.S. Treasury's Community...

  • Fannie Mae Agrees to OFHEO Plan with New Oversight Provisions, Internal Reforms

    WASHINGTON - The Office of Federal Housing Enterprise Oversight reached an agreement with Fannie Mae that requires the housing Government Sponsored Enterprise to implement reforms that "address deficiencies" in internal controls, corporate governance and accounting systems. By signing the agreement with OFHEO on March 7, Fannie Mae agrees to the...

  • CUNA Mutual Mortgage "Subprime" Product Puts Company in New Lending Market

    MADISON, Wis. - Subprime lending historically has been a market credit unions have distanced themselves from. But now this market - the fastest growing mortgage market in the U.S. - that CUs have been reluctant to enter is being touted as an opportunity for CUs to lend to, and CUNA...

  • Hursey of Dixies FCU Wins Top S.C. Honor

    DARLINGTON, S.C. - The veteran chairman of Dixies Federal Credit Union and a former CUNA director, B. Edward Hursey, has received the "Order of the Palmetto" the highest civic honor in South Carolina. In a presentation arranged by Governor Mark Sanford, the 77-year-old Hursey was bestowed the award at ceremonies...

  • 4% in 2004

    WASHINGTON-In 2004, lenders saw bankruptcy filings drop nearly 4%, according to the latest data from the Administrative Office of the U.S. Courts. Total bankruptcies filed in 2004 came to 1,597,462, a 3.8% dip from 2003 when 1,660,245 petitions were filed. Last year's number is still over the 1.5 million filed...

  • Sunshine State Will Still Become a Bank, CEO Says

    TALLAHASSEE, Fla. - A credit union whose members voted to approve its move to being a mutual bank still has an application pending to complete the process, but contrary to some rumors circulating around the industry the $170 million Sunshine State Credit Union is still on track to become a...

  • Wyoming Governor Signs CU-backed Financial Education Resolution

    CHEYENNE, Wyo. - Gov. Dave Freudenthal demonstrated his support of financial education by signing Senate Joint Resolution 005, a Wyoming credit union-backed initiative to strengthen financial education efforts in the state. The resolution was initiated by Wyoming's 33 credit unions and their 179,000 members as part of their mission to...

  • United Airlines Praises Alliant Loan Package

    CHICAGO - Alliant Credit Union is winning high marks from United Airlines for its loan assistance program directed at employees of the beleaguered carrier. In a statement, the airline called Alliant's Member Assistance Program a valued gesture recognizing that "people sometimes encounter hardships in their jobs." Alliant debuted MAP last...

  • Wright-Patt Credit Union Gets Rid of Fees

    FAIRBORN, Ohio - Wright-Patt Credit Union members can say goodbye to service fees. To demonstrate the credit union advantage to its members, the over $1 billion credit union has eliminated some 10 service fees. Members will no longer be charged for such products and services ranging from annual credit card...

  • Interest-Only HELOCs Permissible for FCUs

    ALEXANDRIA, Va.-In a recent legal opinion letter (05-0135), NCUA Associate General Counsel Sheila Albin clarified that federal credit unions may offer members interest-only home equity lines of credit. According to the letter, the Indiana Credit Union League inquired whether a federal credit union was permitted to make a home equity...

  • NCUA's Johnson Announces 2005 TAG Program for LICUs

    ALEXANDRIA, Va.-NCUA Chairman JoAnn Johnson recently announced the 2005 Community Development Revolving Loan (CDRLF) Fund Technical Assistance Grant Program. "In 2005, nearly 1,000 low-income designated credit unions have a tremendous opportunity to receive grant funding, to improve efficiency of credit union operations, enhance staff training, as well as provide a...

  • Washington Lawmaker Prepared to Sign onto CURIA

    WASHINGTON-Though the Credit Union Regulatory Improvements Act has yet to be introduced this Congress, Representative Norm Dicks (D-Wash.) has announced that he plans to co-sponsor the bill when it is introduced, the Washington Credit Union League reported. According to the league, Dicks told the state's credit union delegation to CUNA's...

  • Five New Directors Join CUNA Mutual Board; Board Gets Bigger by One

    MADISON, Wis. - The CUNA Mutual Board has added five new directors, and has increased its size from 13 to 14. The five are the following: * Victoria W. Miller, EVP and CFO, Turner Broadcasting System, Inc.; * Joseph J. Gasper, CLU, retired president and COO, Nationwide Insurance; * Bert...

  • Kobinsky Now Suspended Without Pay; Trial Set for April

    MADISON, Wis. - Thomas Kobinsky, the CUNA Mutual Media Relations Manager, who was charged with four counts of identity theft on Jan. 7, is no longer being paid by CUNA Mutual. Kobinsky was previously suspended with pay, but that has changed based on some findings of a CUNA Mutual internal...

  • CUDL Launches Year-Round Marketing Campaign

    RANCHO CUCAMONGA. Calif. - CU Direct Corp., the largest indirect lending CUSO in the U.S., announced a new year-round marketing campaign it says is designed "to help credit unions cut through the clutter and deliver clear, concise messages to remind their members that their credit union is an excellent source...

  • Simpson Named VP-Community Development for Arrowhead

    SAN BERNARDINO, Calif. - Arrowhead CU has created a new position of Vice President-Community Development and named Jerilyn Simpson to the spot. Simpson has more than 19 years experience working with the San Bernardino CU. She was the founder and past CEO of San Bernardino Communities Against Drugs Inc., one...

  • Grassley Misses GAC but Lauds CUNA's Bankruptcy Reform Efforts

    WASHINGTON- Senator Charles Grassley (R-Iowa) thanked CUNA and its member credit unions for "the leadership you have demonstrated in helping to advance bankruptcy abuse reform legislation," in a letter addressed to Governmental Affairs Conference attendees. "As you know, the bankruptcy bill passed the Senate Judiciary Committee on February 17 and...

  • Web Site Dedicated to Socially Responsible Investing Lauds Credit Union

    BRATTLEBORO, Vt. - One of the relatively few credit unions to have benefited from the U.S. Treasury Department's New Markets Tax Credit Program has been featured in a story published by a Web site devoted to socially responsible investing. SocialFunds.com, a site which bills itself as the "largest personal finance...

  • Jarvis is New Director of Washington Department of Financial Institutions

    OLYMPIA, Wash. - Gov. Christine Gregoire has appointed Scott Jarvis as the new director of the state Department of Financial Institutions. Jarvis succeeds Helen Howell who resigned from the position Feb. 25. Jarvis most recently worked at DFI as deputy commissioner in the Office of the Insurance Commissioner. He also...

  • Fickle Lending May be Contributing to Membership Slowdown

    MADISON, Wis. - Aside from mortgages, credit unions aren't doing much lending right now and that may be contributing to the slowdown trend in membership growth. There's been a slowdown in membership growth rates from 3% five years ago to 2% today, where it has stagnated over the past four...

  • Wall Street Journal Notes Teachers FCU's Student Outreach

    WASHINGTON - Look for Farmingville, New York-based Teachers Federal Credit Union's youth education efforts in a recent Wall Street Journal article. The $1.9 billion credit union was the only credit union featured alongside such bank heavyweights as Wells Fargo and SunTrust Bank in an article that focused on how financial...

  • NCUA Appropriations Restructured Under New Subcommittee

    WASHINGTON-In seeking fiscal year 2006 appropriations, NCUA will have a whole new subcommittee and new members to work with. The responsibilities of the House Veterans Affairs, Housing and Urban Development, and Independent Agencies Subcommittee of the Appropriations Committee relating to NCUA have been shifted under the new Transportation, Treasury, and...

  • Desert Schools Settles Four-Year EEOC Suit

    PHOENIX - Claiming it does not discriminate but seeks to minimize attorney expenses, Desert Schools Federal Credit Union has agreed to settle a four-year-old suit alleging bias brought by the Equal Employment Opportunity Commission involving four branch employees. Terms of the settlement were not disclosed but local press reports said...

  • Kansas Credit Union Offers Surcharge Free ATM to All

    WICHITA, Kan. - A credit union in Wichita, Kansas, has gained attention for not surcharging any body, member or not, at its newest ATM. The $390 million Boeing Wichita Credit Union hopes the news of an ATM which is surcharge-free to everyone might both drive traffic to the site of...

  • SACU Sponsors College Fair

    SAN ANTONIO, Texas - San Antonio Federal Credit Union (SACU), along with Clear Channel Radio and Ingram Park Mall, has sponsored the College Fair at Ingram Park Mall. Thousands of students and their parents took advantage of this free event, which featured representatives from many colleges and universities from all...

  • Redwood Credit Union, MGHECU Merge

    SANTA ROSA, Calif. - Lakespur, California-based Marin General Hospital Employees Credit Union has merged with Redwood Credit Union here. The merger will result in Redwood CU serving over 113,000 members and having total assets of over $1.1 billion. "Redwood Credit Union is honored to have been chosen and entrusted to...

  • Netting Provisions Possibly Changed in Bankruptcy Bill

    WASHINGTON-Credit union groups are working to ensure credit unions receive the same treatment as other financial institutions in managing Qualified Financial Contracts in the event of insolvency. Title IX of the bankruptcy reform bill simplifies the handling of QFCs when one party becomes insolvent. NCUA has argued that the current...

  • More than $4 Million Goes to Golden 1 Cardholders

    SACRAMENTO, Calif. - The money flowed from The Golden 1 Credit Union to its cardholders in 2004. The $5.4 billion Golden 1 Credit Union paid out over $4 million to its VISA cardholders for 2004's transactions, the credit union announced. This is a record for the institution, according to Ann...

  • WOCCU Leaders Invited by Iranians to Discuss Credit Union System

    MADISON, Wis. -World Council of Credit Unions Board Chairman L.R. (Bobby) McVeigh and Interim Chief Executive Officer Brian Branch were invited by Iranian CUs to meet in Iran to discuss the credit union system. Credit unions in Iran have operated under the supervision of the Ministry of Cooperatives and are...

  • NCUF Gets New Vice-Chair

    WATERFORD, Mich. - Allan Kemp McMorris, CEO of the $126 million Oakland County Credit Union, headquartered in Waterford, has been elected vice chairman of the National Credit Union Foundation (NCUF). The credit union has over $125 million in assets and serves over 20,000 members. McMorris also serves as treasurer of...

  • Doors Closed on KO-AM FCU

    ALEXANDRIA, Va.-NCUA recently decided to close KO-AM Federal Credit Union of Oakland, Calif. due to insolvency. Depositor funds are insured to $100,000 per account, NCUA reminded members, and the agency's Asset Management and Assistance Center was expected to issue checks for share deposits to the credit unions' approximately 1,200 members...

  • Which Two Interest Groups Do You Believe Are the Most Effective On Capitol Hill?

    REPUBLICANS National Federation of Independent Business

In Other News

  • AWARDS

    New Jersey Federal Credit Union, Totowa, has named member Joan Millar the winner of the Palm Pilot Drawing. Millar entered NJFCU's drawing while attending the NJEA Convention in Atlantic City. Tower Federal Credit Union, Laurel, Md., has awarded its member Nancy Prugh with an enhanced definition 42-inch plasma screen monitor....

  • DONATIONS

    South Jersey Federal Credit Union, Deptford, N.J., has raised $2,000 in support of the American Red Cross' tsunami relief efforts. SJFCU supports numerous altruistic organizations throughout South Jersey including the National MS Society, The ARC of Gloucester and Cape May Counties, The Camden Children's Garden and The Children's Miracle Network....

News

News Briefs

  • TNB Picks Up Three Western Processing Customers

    DALLAS - Three West Coast CUs have chosen TNB Card Services, the card processing arm of credit union-owned Town North Bank, for their card processing needs, the firm announced. The new processing clients are the $79 million United Health Services CU of Spokane, Washington; the $38 million GaPac Employees FCU...

  • Next PALS to Focus on New Markets, Members, and Business

    ALEXANDRIA, Va.-NCUA Board Member Debbie Matz recently announced the agenda for her April 28 Partnering and Leadership Successes workshop regarding creating new business. At the St. Louis conference, credit union panelists will share initiatives to reach "New Markets, New Members, and New Business." Kansas Credit Union Association President Marla Marsh...

  • CUNA Mutual Provides $100,000 in Support For NCUF

    WASHINGTON - CUNA Mutual has added another $100,000 to the National Credit Union Foundation in support of the Foundation's activities. CUNA Mutual Director Eldon Arnold was recognized for CUNA Mutual's contribution at NCUF's 2005 Herb Wegner Memorial Awards Dinner, held Feb. 27 in conjunction the Credit Union National Association's Governmental...

  • Card Portfolios Makes Itself Known

    BOSTON - Another firm has recently announced that it's in the business of helping credit unions evaluate and possibly sell their credit card portfolios. The brokerages already somewhat known in the industry include Asset Exchange, Portland Oregon; Kessler Financial Services (closely associated with card issuer MBNA), Boston; and Brookwood Capital,...

  • Keep Us Tax Exempt Mr. Congressman

    NONE

  • CU House Names Dill as New Director

    WASHINGTON-John C. Dill, president and CEO of the Colorado and Wyoming Credit Union Leagues, has been named a new member of the six-person Credit Union House Board of Directors. Dill was voted onto the board in a Class A seat by Credit Union House members during their annual meeting on...

Marketing

  • John Deere CCU Takes Two Gold

    WATERLOO, Iowa - John Deere Community Credit Union (JDCCU) has received two Gold ADDY Awards from the local Marketing, Advertising, and Communications Association (MAC). JDCCU took home honors in the categories of Regional TV Campaign and Regional Single TV spot. The two commercials will be forwarded to the 9th District...

  • Bears Promote Tower FCU Product Awareness

    LAUREL, Md. - A two month promotion with bear giveaways has helped Tower Federal Credit Union increase its online bill payment membership by 50%. In addition, the number of Tower FCU members signed up for e-statements totals over 15,000. During January and February, Tower FCU branches gave stuffed black bears...

  • Southeast Corporate Rings Up Four ADDYs

    TALLAHASSEE, Fla. - Southeast Corporate has won four ADDYs in the local advertising federation's ADDY competition. Sponsored by the American Advertising Federation, the ADDYs are one of the largest and most representative creative competitions in the advertising industry. Southeast won Gold for its Member Business Solutions flash-based Web site, besting...

  • CUs Urged to Participate in Youth Saving Challenge

    MADISON, Wis. - Over 140 credit unions are gearing up for the CUNA 2nd Annual Youth Saving Challenge, coinciding with National Credit Union Youth Week, April 17-23, 2005. Sponsored by CUNA, the free program is designed to help credit unions strengthen their relationship with youth and their families by encouraging...

  • Back to Basics Marketing Approach Helps Pay Off Big for Credit Unions

    WEST PALM BEACH, Fla. - When it comes to credit union marketing, less can sometimes lead to fabulous results. "Marketing campaigns can look good, but if it doesn't work it's not a good one," said CEFCU Vice President of Marketing Sue Yoder. Yoder says what has proved successful for CEFCU...

  • Meriwest CU, MidFlorida FCU Tout Success and Win Awards

    LAS VEGAS - Meriwest Credit Union Senior Account Manager Tanya Edwards and MidFlorida Federal Credit Union Board Secretary Sandy Prince took home first and second place honors during the CU Conferences Business Development Select Employee Group Conference. The Share Your Successes winners were selected by their peers. Edwards cites branding...

Tech Bytes

  • Navy FCU Stocks Up for Check 21 With NCR

    DAYTON, Ohio - NCR said last week that the $23 billion Navy FCU has selected its image-based technology for image capture, processing, and storage - all in preparation of image exchange brought on by Check 21. Navy will specifically use NCR's ImageMark solutions to capture, balance and consolidate images from...

  • Callahan's CU Search Engine Fully Operational

    WASHINGTON - Callahan & Associates has completed the beta test of its credit union search engine - CU Info Search - and is now experiencing an average of 1,500 to 2,000 searches a week. The search engine can be found at www.cuinfosearch.com or through Callahan's Web site, www.creditunions.com. Callahan Vice-President...

  • iQ Credit Union Signs Fuze for Knowledge Management

    VANCOUVER, Wash. - iQ Credit Union has signed a two-year agreement to deploy the knowledge management and e-services system from Fuze Digital Solutions on the credit union's Web site and intranet. "In particular, I appreciated the Fuze Suite's ability to tightly integrate with our Web site, support two-way secure communications,...

  • Hack Attacks Growing Fast on IM/P2P Channel

    WALTHAM, Mass. - Here's a growth industry that credit unions might want to be aware of: spam, virus and worm attacks through instant messaging applications. The IMlogic Threat Center (www.imloglc.com) says the number of such attacks through IM and peer-to-peer (P2P) applications have been increasing 50% each month so far...

  • Symitar Parent Acquires Intelligence Firm

    MONETT, Mo. - Jack Henry & Associates, parent company of credit union data processor Symitar Systems, has acquired Tangent Analytics, a provider of Web-based business intelligence systems. Terms of the deal were not disclosed. This deal follows an already established strategic alliance between the two firms that resulted in the...

  • Shared Branching to be Available Through Fiserv

    ATLANTA - Credit unions all over the country that already have a relationship with Fiserv EFT in ATMs or other services will now have the opportunity to participate in shared branching through the processing firm. That's because Credit Union Service Centers has certified Fiserv EFT as a third party processor...

Special Report

  • Seven Seventeen Credit Union Wins International Design Award

    WARREN, OHIO - An innovative design of Seven Seventeen Credit Union's new Portage County branch has earned the Award of Merit in the International Store Design Competition sponsored by the Institute of Store Planners and Visual Merchandising and Store Design magazine. Columbus-based TRIAD Architects centered much of the branch's design...

  • Chetco FCU Members Step Back Home to the `50s

    CRESCENT CITY, Calif. - Chetco Federal Credit Union has taken "home banking" to a new level with its latest branch here. As members walk into the retail branch they walk through time back into the `50s - complete with ice cream parlor inspired teller stations, a fully equipped kitchen stocked...

  • Simpson Community Credit Union Unveils Latest Branch

    SHELTON, Wash. - Simpson Community Credit Union has opened the doors to its second full-service branch here. The 16,063 square-foot structure built on a 2.65 acre site features four drive thru lanes, expanded parking, 24 hour ATM access, safe deposit boxes, and online banking kiosks. The new building will also...

Briefs

  • NACUSO's 20th Annual Conf. to Dare CUSOs to Dream

    LAS VEGAS - Caesars Palace Las Vegas will be the site of NACUSO's 20th Annual Conference, May 8-11. The four-day event will be the association's first since it restructured its mission and long-term objectives in November to focus and support the collaborative CUSO business model. With that in mind, the...

  • CU Direct Connect Partners with Denver Newspaper Agency and Cars.com for Auto Info Tool

    DENVER - CU Direct Connect, a CUSO owned by 38 Colorado credit unions with an additional 22 CU partners in that state and in Wyoming, has formed a relationship with the Denver Newspaper Agency and Cars.com to provide CU members with an improved online vehicle information tool. The co-branded Web...

  • Maryland League Names CUMA as its Endorsed Business Partner

    BALTIMORE - A new partnership between the Maryland Credit Union League and the Credit Union Mortgage Association means MDCUL affiliates and their members will have access to the complete line of mortgage products offered by the Fairfax, Va.-based multiple-owned CUSO. CUMA is owned by 37 CUs throughout the Virginia/Maryland/DC area....

  • Auto Expert Converts to LLC

    RIVERSIDE, Calif. - Auto Expert, a wholly-owned auto buying/brokering CUSO of Altura CU, has converted to a limited liability corporation. The LLC status gives the CUSO greater flexibility in servicing its credit union clients, said Auto Expert President Jennifer Binkley. Formed as a CUSO in 1998, Riverside County's CU -...

Opinions

Letters to the editor

  • Right On Mike Welch

    I just finished reading Mike Welch's publisher's column about "Who's Kidding Who?" from the Feb. 9 issue of Credit Union Times. (Sometimes it takes a while for issues to make it around to my desk.) Over the years, I have held various positions within the credit union industry so I...

  • Hanley Got it Right

    I'd like to respond to a letter in the March 2 issue of Credit Union Times from Orange County Teachers FCU CEO Rudy Hanley. Since Mike Welch gave his opinion of small CUs, it's quite refreshing to see that there are many vocal supporters of small CUs out there, especially...

  • You've Maintained Your Trusted Reputation

    I read with great interest your item on the inaccurate tsunami photos in your February 16 edition. You obviously did not have to take ownership for the mistake, since they were provided by a trusted source. But your willingness to do so spoke volumes about your diligence in safeguarding the...

Publisher's Column

  • First Celebrate, Then Begin PR and Education Process

    As you read this, champagne corks might still be popping at state and national credit union association headquarters and elsewhere, as bankruptcy reform legislation, as of press time, appeared close to finally becoming reality. Doing something about the steadily rising number of personal bankruptcies and growing bankruptcy abuses has long...

People

  • WEST

    Eagle Community Credit Union, Lake Forest, Calif., has appointed the following employees: Rodney Selbo senior vice president/member services; Moritz Wohanka senior vice president/CFO; Cheryl Ferguson Rancho Santa Margarita branch manager; Jeni Good member service center manager; and Art Villarreal loan manager. In addition, Eagle Community CU has promoted Nina Adorable...

  • MIDWEST

    Purdue Employees Federal Credit Union, West Lafayette, Ind., Vice President of Finance/CFO Brian Musser has been appointed to the Government Relations Advisory Committee for the National Automated Clearing House Association for a two-year term. Hopewell Federal Credit Union, Heath, Ohio, has appointed the following new staffers: Terry Johannsen consumer loan...

  • VENDORS

    CO-OP Network, the No. 1 credit union EFT network, has named Kimberly Phillips Hester senior vice president of network services. HTG Architects, an architectural design/build firm, has named Larry Ward project architect and Jim Gulan job captain. DEI Incorporated, a design/build firm, has welcomed the following six new employees: John...

  • SOUTH

    South Carolina Federal Credit Union, North Charleston, has named Liza Rehill vice president of sales and service Memphis Area Teachers' Credit Union, Tenn., has named Dan Robinson regional manager.

  • EAST

    Community Resource Federal Credit Union, Latham, N.Y., has named Heather Finch VISA coordinator. Tobyhanna Army Depot Federal Credit Union, Scranton, Pa., Business Development Specialist Christina Sheerer has been selected to compete in this year's Pennsylvania Youth Ambassador Contest representing the Scranton Chapter of Credit Unions. Fort Belvoir Federal Credit Union,...

Staking Out the Stats

  • Staking Out the Stats

    Curious how to reward well deserving staffers? A recent survey developed by staffing solutions provider Accountemps finds that despite the popularity of non-monetary incentives, cash bonuses are still preferred. Chief Financial Officers were asked, "Which of the following do you feel is most effective in rewarding your team after a...

Voting Poll

  • New Voting Poll: Bankruptcy Reform, Necessary or Not?

    WASHINGTON - If you listen to credit union lobbyists, bankruptcy reform is long overdue and should pass for the benefit of credit unions and consumers, but not everyone sees it that way, especially when looking at the current bills. Consumer groups like the CFA, credit union CEOs like Jim Blaine...

In Memoriam

  • Longtime CU Leader Robert Dargan Dies

    NORTH CHARLESTON, S.C. - Former South Carolina Federal Credit Union CEO Robert Dargan has died at the age of 64, ending his two year battle with cancer. Dargan, who led SCFCU from 1992 to 2004, was known as a leader in the South Carolina financial community and throughout the Southeast...

Opinion

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