Credit Union Times Magazine March-30, 2005

In Other News

  • SCHOLARSHIPS

    Defense Credit Union Council, Washington, has awarded the 2004 George E. Myers Scholarships to Fort Monroe CU President/CEO Michael Guida, and Northern Tier FCU President/CEO Darrell Roos. Guida and Roos will be using their $2,500 scholarships to attend the DCUC Annual Conference in Charleston, S.C. DCUC established the George E....

  • MILESTONES

    Global Credit Union, Spokane, Wash., own James Addlesberger has completed 34 years of service with the credit union. Addlesberger has worked in Global's Italy branches his entire career starting at Camp Darby, Tirrenia, Italy in 1970, when Global was still named Fairchild Federal Credit Union.

  • AWARDS

    Spokane Teachers Credit Union, Wash., has named Business Development Manager Jackie Wright the 2004 Employee of the Year. In addition, STCU has named its Business Development/Public Relations Department and Business Services Department as the 2004 Teams of the Year. Branch Support Officer Karen Blair was awarded the Mike Armstrong Outstanding...

News

News Briefs

  • CULAC Splits Largest Contributions Between Dems and GOP

    WASHINGTON-CUNA's political arm, the Credit Union Legislative Action Council, made large contributions to members of Congress on both sides of the aisle last month. CULAC maxed out with $5,000 contributions to Republicans Speaker of the House Dennis Hastert (R-Ill.) and five-term representative Heather Wilson (R-N.M.). The political action committee also...

  • Mountain America CU PR Officer Goes to D.C. to Talk Financial Literacy

    SALT LAKE CITY-Mountain America Credit Union Public Relations Officer Jodi Mitchell has recently provided her input to the U.S. Department of Treasury's Financial Literacy and Education Commission in Washington D.C. regarding the national strategy of financial education. Mitchell is one of only eight lender representatives selected as part of the...

  • Allpoint Signs Three State Credit Union Leagues

    BETHESDA, Md. - State credit union leagues in Pennsylvania, Maryland and Delaware have signed agreements that will allow their member credit unions to sign up more easily with Allpoint, the ATM network which charges credit unions a flat fee to provide free ATM access to their cardholders. The deal was...

  • Matthews, CU Industry, NCUA Veteran, Dies

    ELLISVILLE, Miss. - Lorena Matthews whose credit union career included working both on the credit union side as well as with the NCUA, died March 21. She was 92 years old. A native of Meridian, Miss., Matthews' history with the NCUA spanned several years in the 1970s (see CU Times,...

  • Diamond Award Winners Named

    PALM SPRINGS, Calif. - Cindy Morgan, marketing manager at New England Federal Credit Union in Williston, Vt., was named marketing professional of the year at the 2005 Diamond Awards ceremony at the 12th annual CUNA Marketing and Business Development Council Conference. Rhonda Summerbell, senior manager of university relations at University...

  • Credit Unions Lose a Retirement Savings Reform Advocate

    WASHINGTON - Rep. Rob Portman (R-Ohio), considered by many in the credit union industry as an advocate for retirement savings reform, is leaving his post to become a U.S. Trade Representative. Portman's record for reform is significant: he, along with Rep. Ben Cardin (D-Md.) introduced the Pension Preservation and Savings...

Marketing

  • MaPS Launches Youth Program

    SALEM, Ore.- Marion and Polk Schools Credit Union (MaPS) is getting into the youth market by unveiling its new Youth Savings Program targeting members from birth to age 17. Designed to provide educational and savings opportunities for young members, to help them better understand personal finance, the new program will...

  • Montauk Credit Union Marketing Director Running for Good Cause

    NEW YORK - It took one Leukemia and Lymphoma Society Team in Training meeting to get Montauk Credit Union Marketing Director Christina Goethe hooked on running. With a goal of raising $4,000, Goethe is currently in training to run her first marathon -the Rock-n-Roll Marathon in San Diego on June...

  • And the CU ADDY winners are.

    WEST PALM BEACH, Fla. - Credit union marketing campaigns across the country are garnering ADDYs. The American Advertising Federation conducts the ADDY awards through its 200 clubs and 15 districts. The ADDY awards represent the true spirit of creative excellence by recognizing all forms of advertising from media of all...

  • MidWest Financial, Alpha Remodeling "Marvelous" Makeover Hits PAX TV

    ANN ARBOR, Mich. - Look for MidWest Financial Credit Union and local remodeling firm Alpha Remodeling's recent remodeling for the Lewis family Saturdays in April at 9:30 am on PAX TV. Washtenaw County Family Independence Agency staffer/MidWest Financial CU member Jamie Lewis was the recent winner of a joint Marvelous...

  • Local Celebrity Stops By Vantage CU

    ST. LOUIS - Vantage Credit Union recently took the opportunity on President's Day to educate local CBS affiliate News 4 Morning Anchor/Reporter Virginia Kerr on the importance of financial literacy. Vantage CU Community Education Specialist Rachel Parrent, who coordinates the CU's Money Matters program spent the morning with Kerr. Money...

  • Postal CU Taps Students for Teen Marketing

    WOODBURY, Minn. - Who better than a teen to know what would appeal to other teens? Postal Credit Union (PCU) has teamed up with Tartan High School DECA students for the fourth consecutive year to create marketing pieces that will appeal to the credit union's teenage members. The students conduct...

  • LA DOTD FCU Awards Millions -in Points

    BATON ROUGE, La. - LA DOTD Federal Credit Union members William and Sherry Pousson are the lucky "million and more" scorecard point winners of the LA DOTD Federal Credit Union and Certegy Score Card Rewards Program Drawing. The Score Card Rewards Program is a bonus for members to gain prizes,...

Tech Bytes

  • GrooveCar Taps TCI for Indirect Lending Platform

    HAUPPAUGE, N.Y. - GrooveCar, an auto buying and support program for credit union in members in New York City and surrounding areas, will now be using the DecisionLender Web-based indirect decisioning system from Teledata Communications Inc., the companies announced. GrooveCar will use the DecisionLender system as an ASP service under...

  • ShareOne Sees Income Surge in `04

    MEMPHIS, Tenn. - Share One, a credit union data processing and Internet services CUSO, said its net income came in at $485,000 last year on gross receipts of almost $3.8 million. Gross income increased by $288,562 over fiscal year '03, while net income rose by $750,477. Share One is a...

  • AOD FCU's New CEO Makes Core Processing Pick

    BYNUM, Ala. - The first big decision by AOD Federal Credit Union's new president and CEO was to select a core processor to handle his 22,000 members' basic financial transactions. Ken Reynolds was named to the top spot at the $144 million CU (www.aodfcu.com) in September and after a due...

  • Alaska USA Streamlines Credit Counseling Payments by Tapping into MasterCard RPPS

    ANCHORAGE, Alaska - Alaska USA believes it is the first credit union in the nation to tap into the power of the MasterCard RPPS network to receive electronic payments from credit counseling agencies and pro-rating firms. Many credit unions have relationships with credit counseling agencies that help consumers repay their...

  • Corillian Adds Web Visitor Locator Specialist to Phishing Fight

    PORTLAND, Ore. - Corillian Corp. has added a Web geo-locator service to its Corillian Fraud Detection Service, bolstering its ability to thwart phishing attacks before they get under way, the company says. The Corillian Fraud Detection System uses Web log analysis to identify phishing behaviors before an attack is launched,...

  • CBC FCU Deploys COWWW Software

    OXNARD, Calif. - CBC Federal Credit Union is the latest to deploy the Web-based document-management solution from COWWW Software. The $260 million CU (www.cbcfcu.org) says it will use the Michigan company's imaging system and browser-based retrieval package to improve teller service and reduce annual maintenance fees for COLD storage and...

  • Seven Credit Unions Commit to SAIL Indirect Lending Platform

    AUSTIN, Texas - Three-year-old Teres Solutions continues to gain traction in credit union land, announcing seven new credit union users of its indirect auto lending software solution - SAIL (Software Application for Integrated Lending.) The new clients are $1.7 billion Redstone FCU in Huntsville, Ala.; $890.2 million Central Florida Educators...

Letters to the editor

Opinion

  • Dark Shadows

    Bright Lines? More like dark shadows. Answering `how will we know what to originate' is easy once we understand who's behind the Hagel Bill: big banks and the Mortgage Bankers Association of America. If S.190 becomes law, U.S. mortgage lending will be controlled by the largest lenders. Smaller lenders -...

  • NCUA Issues Appraisal FAQ Sheet with Banking Regulators

    ALEXANDRIA, Va.-NCUA jointly released a frequently asked questions guide with the other federal banking regulators last week. NCUA, together with the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision prepared the FAQ...

  • The Need for Legislation and Financial Reform

    Accounting issues unearthed at Freddie Mac and at Fannie Mae point up the need for stronger financial oversight of the GSEs. Customers of financial institutions and financial service providers have a right to expect their safety and soundness. I fully support the need for legislation and regulation that strengthens the...

  • Legislation and Oversight v. Public Policy

    Homeownership has been U.S. public policy since the Franklin Roosevelt Administration. The GSEs were chartered as a matter of public policy, to ensure that a constant source of affordable credit would be available to all geographic regions of the U.S. so that people everywhere could become homeowners. It's worked. Homeownership...

  • Business Services: There's More to Risk Management than Meets the Eye

    Business services offer tremendous growth opportunities for our industry. It's obvious that credit unions must manage risks when doing business lending. But there are many other aspects of a business services program that carry risk, and credit unions must be prepared to manage them properly. When we consult with a...

  • What Can You Do?

    Dark Shadows was pseudo-scary. Hagel's Bill is truly scary. If you're frightened, do three things now. First: support legislation that strengthens financial oversight of the GSEs. Fiscal responsibility and adequate capital levels make sense. Second, oppose - strenuously - legislation that limits our ability as lenders to provide our members...

  • Bright Lines or Dark Shadows: The Other Side of GSE Reform

    Dark Shadows was a campy 1960s, pseudo-scary soap opera that tempted its audience with mysterious goings-on just out of the viewer's sight, at least until the next episode. Pending legislation that reforms regulatory and business oversight of Fannie Mae and Freddie Mac has that same feeling: there's more to it...

  • Bright Lines

    Hagel's bill, co-sponsored by Senators Elizabeth Dole (R-N.C.) and John Sununu (R-N.H.), includes a proposal to `clarify the mission' of the GSEs by defining their permissible activities. The Hagel Bill makes direct or indirect loan origination impermissible by the GSEs. It does so by defining primary and secondary mortgage activities....

People

  • SOUTH

    Truliant Federal Credit Union, Winston-Salem, N.C., has promoted Troy Martens to vice president, consumer/real estate lending. Gulf Winds Federal Credit Union, Pensacola, Fla., President/CEO Chris J. Rutledge has been appointed Southeast Corporate board director. Innovations Federal Credit Union, Panama City, Florida, has named Scott Gladden vice president operations.

  • EAST

    North Jersey Federal Credit Union, Totowa, N.J., has named Bob Mark business development representative. Dutch Point Credit Union, Inc., Wethersfield, Conn., has named Charlyn Reese vice president finance. Jeanne D'Arc Credit Union, Lowell, Mass., Executive Vice-President/Chief Financial Officer and Investment Officer Gerald Freitas and Senior Vice-President of Human Resources Elaine...

  • WEST

    Orange County's Credit Union, Santa Ana, Calif., has named Ka'Ree Chatman vice president of retail branch administration and Reza Mahdavi St. Andrew branch manager. In addition, OCCU has promoted Christine Bass to assistant vice president, retail support services. Redwood Credit Union, Santa Rosa, Calif., has named Carol Parish Novato branch...

  • MIDWEST

    TopLine Federal Credit Union, Maple Grove, Minn., has promoted Michael Edwards to vice president of lending/administration and Katie Pitman to vice president of sales/ marketing. Western Credit Union, Columbus, Ohio, has named Carrie Patrick Delaware branch manager.

From the Board Room

Quotes Worth Quoting

  • Quotes Worth Quoting

    "We also had things that did not happen. In March, anyway, we did not have a Thomas hearing." - CUNA Vice President of Legislative Affairs and Senior Legislative Counsel Gary Kohn speaking about legislative activity and inactivity during the month of March, specifically noting that the House Ways and Means...

Publisher's Column

  • Conversion Attempts Continue To Make Headlines

    News stories about credit unions seeking to convert to a bank charter were once just a sometimes thing in Credit Union Times. No longer. Now almost every weekly issue contains at least one timely news story on the subject. The reason for the stepped up coverage is simple. There is...

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